Blackbird Investments Inc. Announces Filing of Filing Statement for Proposed Qualifying Transaction

Blackbird Investments Inc. Announces Filing of Filing Statement for Proposed Qualifying Transaction

October 19, 2009

October 19, 2009 -- Vancouver, British Columbia (TSX-V: BBI.P). Further to its previous announcements in regards to its proposed Qualifying Transaction, Blackbird Investments Inc. ("Blackbird" or the "Corporation"), a capital pool company, is pleased to announce that it has filed its Filing Statement in regards to the transaction, as required by the policies of the TSX Venture Exchange (the "Exchange"). The Filing Statement is available under the filings for the Company on the System for Electronic Document Analysis and Retrieval (SEDAR). The Company currently anticipates that the proposed closing date will be October 23, 2009, subject to the receipt of final Exchange approval.

As announced, Blackbird has entered into an agreement with Maxwell Exploration Inc. for the acquisition of a 75% interest in certain oil and gas leases located in Gray County, Texas (the "Acquisition"). The proposed Acquisition will be the Corporation's "Qualifying Transaction" as defined in the policies of the Exchange.

On behalf of the board of
BLACKBIRD INVESTMENTS INC.

Per: "William Macdonald"
William L. Macdonald
President and Director

COMPLETION OF THE TRANSACTION IS SUBJECT TO A NUMBER OF CONDITIONS, INCLUDING BUT NOT LIMITED TO, EXCHANGE ACCEPTANCE AND IF APPLICABLE PURSUANT TO EXCHANGE REQUIREMENTS, MAJORITY OF THE MINORITY SHAREHOLDER APPROVAL. WHERE APPLICABLE, THE TRANSACTION CANNOT CLOSE UNTIL THE REQUIRED SHAREHOLDER APPROVAL IS OBTAINED. THERE CAN BE NO ASSURANCE THAT THE TRANSACTION WILL BE COMPLETED AS PROPOSED OR AT ALL.

INVESTORS ARE CAUTIONED THAT, EXCEPT AS DISCLOSED IN THE MANAGEMENT INFORMATION CIRCULAR OR FILING STATEMENT TO BE PREPARED IN CONNECTION WITH THE TRANSACTION, ANY INFORMATION RELEASED OR RECEIVED WITH RESPECT TO THE TRANSACTION MAY NOT BE ACCURATE OR COMPLETE AND SHOULD NOT BE RELIED UPON. TRADING IN THE SECURITIES OF A CAPITAL POOL COMPANY SHOULD BE CONSIDERED HIGHLY SPECULATIVE.

THE TSX VENTURE EXCHANGE INC. HAS IN NO WAY PASSED UPON THE MERITS OF THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.

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