Shares Outstanding: 363 Million
Symbol & Exchange: BN.H-NEX
MONTREAL, June 23 /CNW Telbec/ - Blue Note Mining Inc. ("Blue Note" or
the "Corporation") today filed its plan of arrangement and reorganization (the
"Plan") with the Quebec Superior Court. Blue Note will put the Plan to a vote
by its creditors (the "Creditors") on July 17, 2009.
As more fully described in Blue Note's press release of June 15, 2009,
under the Plan the Creditors would receive cash and new common shares of Blue
Note under a shares-for-debt transaction. They would also gain the right to
appoint two directors to the Corporation's board in addition to Blue Note's
current directors. The Plan also provides for a one for 30 share consolidation
of Blue Note's shares.
The Plan will be available on SEDAR at www.sedar.com.
Blue Note Mining is a Canadian mining company headquartered in Montreal
with operations in Bathurst, New Brunswick. The company's shares trade on the
NEX under the symbol BN.
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
The NEX does not accept responsibility for the adequacy or accuracy of
this news release.
For further information:
For further information: Lorne Woods, Vice President, Investor
Relations, Blue Note Mining, (800) 937-3095, email@example.com,