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Blackstone Ventures Completes Sale of Kenbridge Nickel Project to Canadian Arrow Mines Ltd.
Published : February 16, 2011

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Mots clés associés :   Nickel |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2011) - Blackstone Ventures Inc. (News - Market indication) ("Blackstone" or the "Company") is pleased to announce that it has agreed to terms on which Canadian Arrow Mines Ltd. ("Canadian Arrow") will acquire a 100% undivided interest in Blackstone's interest in the Kenbridge nickel project in Ontario.

Pursuant to the terms of the original letter agreement dated September 13th, 2006 Canadian Arrow has issued to Blackstone 2,500,000 units in its capital stock and incurred over $9,000,000 in exploration expenditures on the Kenbridge property. Also pursuant to the agreement, Canadian Arrow was required to make a final payment to Blackstone of $1,000,000 by December 31, 2012. Canadian Arrow and Blackstone have now agreed that, subject to the necessary regulatory approvals, such payment will be replaced with a cash payment in the amount of $250,000 plus the issuance of the $250,000 of units ("Units") of Canadian Arrow. Each Unit will be issued at a deemed issue price of $0.0776 and will consist of one common share of Canadian Arrow and one common share purchase warrant. Each warrant entitles Blackstone to purchase one additional common share at a price of $0.10 for a period of two years.

On behalf of Blackstone Ventures Inc.

Donald McInnes, Chairman

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact

Blackstone Ventures Inc.
Investor Relations
604-687-3929
604-682-3727
www.blv.ca

Blackstone Ventures Inc.

EXPLORATEUR
CODE : BLV.V
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Blackstone Ventures est une société d’exploration minière basée au Canada.

Blackstone Ventures détient divers projets d'exploration au Canada, en Norvege et en Suede.

Ses principaux projets en exploration sont NORBOTTEN, LAINJAUR et JERVAS en Suede et DROMEDARY au Canada.

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Financements de Blackstone Ventures Inc.
28/02/2007Closes $10 Million Brokered Private Placement
Projets de Blackstone Ventures Inc.
19/07/2011(Norbotten)Signs Norbotten Option and Joint Venture Agreement
16/02/2011(Kenbridge)Completes Sale of Kenbridge Nickel Project to Canadian Arrow...
Communiqués de Presse de Blackstone Ventures Inc.
16/10/2015Lattice Biologics / Blackstone Ventures Merger Update
04/08/2015IIROC Trading Halt - BLV
01/04/2014IIROC Trading Resumption - BLV
31/03/2014IIROC Trading Halt - BLV
03/04/2007Initial Drill Program in Sweden returns 2.06% Ni and 0.48% C...
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