BLUE PLANET Env. WKN: A0NGF1 - MEGA News ISIN: CA09579A1093 Target/Ziel: Euro 2,00

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    BLUE PLANET Env. WKN: A0NGF1 - MEGA News

    ISIN: CA09579A1093

    Target/Ziel: Euro 2,00 + X

    BLUE PLANET Environmetal WKN: A0NGF1

    Handelsplatz: Frankfurt und Xetra

    MEGA - NEWS:

    Blue Planet Environmental Completes the Third Tranche of Private Equity Financing

    Blue Planet Environmental zu myNews hinzufügen Was ist das?

    Blue Planet Environmental Inc. (FWK, Stock Symbol- 9BP) entered into a Stock Purchase Agreement (the 'SPA') on December 2, 2011 with BPE Marketing Services LLC ('BPE') providing for an equity investment of up to $3,000,000 USD (Three Million USD). Blue Planet Environmental also signed an exclusive world-wide Marketing Services Agreement with BPE, as of the same date, covering the distribution and licensing of Blue Planet Environmental's commercial technology and products.

    Pursuant to the SPA, BPE made the initial investment of $500,000 USD upon the execution of the agreement. The SPA further provided for additional investments of at least $500,000 USD on the 6th, 9th and 12th month anniversaries of the SPA's execution.

    Blue Planet Environmental is pleased to announce that the third tranche closed on September 4, 2012 with the receipt of $500,000 USD, and the issuance of 2,772,863 common shares of Blue Planet Environmental Inc.

    Blue Planet Environmental Inc. was represented in this matter by Minden Gross LLP of Toronto, Ontario; BPE Marketing Services LLP was represented by the New York office of Seyfarth & Shaw LLP.

    The proceeds of the equity investment will be used to execute the next phase of Blue Planet's strategic plan that was developed by BPE and Blue Planet Environmental to maximize the commercialization of products and processes utilizing nano-bubble gas infusion technology. The strategic plan will place major emphasis on aquaculture, aquaponics, and commercial greenhouse applications in the United States, Canada, and Central America.


    Welcome

    Dear Shareholders: September 4, 2012 (REV 9/18/12)

    I am writing to you today on behalf of the Board of Directors for the Company. Fiscal 2011 was a very interesting and exciting year for Blue Planet. A copy of the financial statements for the year ended December 31, 2011 can be found on our website under Investor Relations. However, the financial statements do not tell ourentire story. Over $1,000,000 of orders for our watering products were placed by mass market retailers in the US and Canada to be on their shelves in the Spring of 2012. On the commercial side, we oversaw the design and construction of a greenhouse near Saratoga Springs , New York, which we have leased and staffed, to be utilized for commercial production as well as a research and testing facility. We expect it will be operational sometime in the Fall of 2012. In December 2011 we closed on a very significant financing with BPE Marketing Services LLC. The terms of the financing provided Blue Planet with $500,000USD initially, with up to three additional follow-on rounds in the following year of $500,000USD each. The second tranche of $500,000USD closed in June 2012, and the third tranche of $500,000USD closed in September 2012. The fourth tranche is expected to close in December 2012. A copy of the press release describing these tranches can be found on our website.

    As you may know we listed our common shares on the Open Market of the Frankfort Stock Exchange (the “Exchange”) in November 2009. Since that time, Blue Planet, like many smaller companies around the globe whose shares are listed was hindered by a lack of liquidity and support in the market. At the time we listed on the Exchange, listing requirements were favourable for start-up and young companies. However, in 2011 the Exchange imposed new requirements on companies seeking a listing of their shares, as well as requiring the preparation of a prospectus by current issuers such as Blue Planet to maintain its listing. The Company elected to fulfill the onerous prospectus requirements, in terms of both time and money, in order to remain on the Open Market. We engaged Collins Barrow LLP to assist us to produce audited financial statements for the current year, and previous years. Our prospectus was accepted by the Exchange in late September 2011.

    However, during the past year the Exchange engaged in another review of its overall operations leading to, among other things, a restructuring of its listing requirements. Consequently the Company will not be in a position to meet all the current and proposed requirements to continue its listing on the Open Market. While it may be possible to negotiate some relief from these requirements, your Board is strongly of the view that the audit, compliance, and other costs ( over $300,000 to-date) associated with membership, the lack of liquidity provided by the Open Market for Blue Planet’s shares, and the possibility of further, more onerous and uncertain requirements



    Letter to Shareholders

    September 4, 2012

    Page 2



    may be imposed by the Exchange in the future, it is in the best interests of all shareholders not to seek Open Marker inclusion for our shares.

    We were initially led to believe that a listing on the Exchange would provide a source of funding for Blue Planet and liquidity for investors. The listing has provided neither and there is little expectation that it will happen given our past experience with the Exchange. There is simply a lack of value and benefit for the company to retain its listing status. Of course, the Board will certainly consider seeking a listing for our shares on another other exchange or trading platform, at the appropriate time in the future.

    The Board is as sensitive to the issues of delisting and becoming a privately held company, as everyone reading this letter. But, after debating the issues, and receiving advice from our legal and financial network, we concluded that delisting the Company in an expedient and non-distracting manner would be the best course of action to take. By doing so we can create, for Blue Planet, the best opportunity to increase the company’s economic and shareholder value over the long run. We will certainly discuss with shareholders of record the implications of the delisting of the Company’s shares, and present our strategy regarding the future of Blue Planet, at our annual meeting on October 29, 2012, 11 am, at the offices of Minden Gross LLP, 145 King Street W., Suite 2200, in Toronto.

    We thank you for your continued support.

    Best Regards,



    Richard Lonetto, President and Director
     
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