MONTREAL, July 10 /CNW Telbec/ - Capital BLF Inc. (TSX-V : BLF) (the
"Corporation"), announces that it completed on July 9, 2008 a private
placement by Société en commandite immobilière Solim II ("Solim"), which
special partner is the Fonds de solidarité FTQ, of $2,999,999.70 in common
shares. These 9,999,999 shares were issued at a price of $0.30 per share. In
accordance with the policies of the TSX Venture Exchange, the placement was
approved in writing by a majority of the shareholders of the Corporation
since, after giving effect to the placement, Solim holds 33.49% of the issued
and outstanding shares.
The proceeds of the placement will be used for the working capital of the
Corporation and, eventually, for the acquisition of revenue-generating
residential properties. Solim acquired these shares for investment purposes.
An agreement was entered into by and among Fiducie Familiale Closerie,
Claude Blanchet and Solim upon closing of the private placement with respect
to certain tag-along rights.
About Capital BLF Inc.
Capital BLF Inc. is a corporation that solely invests in
revenue-generating residential properties and is initially concentrating its
efforts on properties located in the Province of Quebec. The Corporation owns
two residential properties located respectively at 3465 and 3475 Ridgewood
Avenue in Montreal. A complete description of the business of the Corporation
can be consulted in the Filing Statement of the Corporation dated March 20,
2008 which is available on the website of SEDAR at www.sedar.com.
About Société en commandite immobilière Solim II
Since 1991, Solim's mission has been to stimulate job creation and
economic development by forging business partnerships and participating in
real estate projects.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information:
For further information: With respect to the Corporation: Mr. Pierre L.
Martel, Chief Financial Officer and Secretary, (514) 238-2199; With respect to
Solim: Mr. Guy Gionet, President - CEO, (514) 847-5700