July 13, 2009
July 13, 2009 -- Vancouver, British Columbia. Blackbird Investments Inc. ("Blackbird" or the "Corporation"), a capital pool company, is pleased to announce that on July 13, 2009 it successfully completed its initial public offering (the "Offering") through its agent, Canaccord Capital Corporation (the "Agent") of 15,000,000 common shares (the "Shares") for gross proceeds of $1,500,000. The Offering was fully subscribed for the maximum amount sought to be raised. After giving effect to the Offering, Blackbird now has 25,000,000 Shares issued and outstanding. The Corporation also granted to its directors and officers, options to acquire 1,250,000 Shares at a price of $0.10 per Share, for a period of five years from the date the Corporation's Shares are listed on the TSX Venture Exchange (the "Exchange"). In addition, the Corporation granted to the Agent a non-transferable warrant to purchase up to 1,200,000 Shares at a price of $0.10 per Share and which may be exercised for a period of 24 months from the day the Shares are listed on the Exchange. The Agent also received a cash commission equal to 8% of the gross proceeds of the Offering, as well as an administration fee. Blackbird will use the net proceeds of the Offering as described in the Prospectus.
Bill Macdonald, President of Blackbird stated, "in these troubled economic times we are extremely pleased that we were able to achieve the maximum amount of the Offering. We believe that this is a reflection of the strengths of Blackbird's management team and board of directors and the fantastic support from our shareholders and the Agent."
The board of directors of Blackbird consists of William Macdonald, Robert Booth, Ron Schmitz, Michael Sweatman and Cheng Guan Loo.
Blackbird anticipates that its common shares will begin trading on the Exchange on or about July 14, 2009 under the trading symbol "BBI.P".
On behalf of the board of
BLACKBIRD INVESTMENTS INC.
Per: "William Macdonald"
President and DirectorINVESTORS ARE CAUTIONED THAT TRADING IN THE SECURITIES OF A CAPITAL POOL COMPANY SHOULD BE CONSIDERED HIGHLY SPECULATIVE. 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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