|An anonymous director reports|
BLACKBIRD INVESTMENTS (BBI-TSXV) QUALIFYING TRANSACTION
The TSX Venture Exchange has accepted for filing Blackbird Investments Inc.'s qualifying transaction described in its filing statement dated Oct. 9, 2009. As a result, effective at the opening Tuesday, Nov. 10, 2009, the trading symbol for Blackbird Investments Inc. will change from BBI.P to BBI, and the company will no longer be considered a capital pool company. The qualifying transaction includes the following matter, which has been accepted by the exchange.
Acquisition of a 75-per-cent interest in the Mathers-Gordon project
The exchange has accepted for filing a purchase and sale agreement between the company's wholly owned subsidiary Blackbird Energy Holdings LLC (as buyer) and Maxwell Operating Inc., a Texas corporation (as seller), dated Aug. 12, 2009, under which Blackbird Energy agreed to purchase from Maxwell, a 75-per-cent right, title, estate and interest in and to assets located in Gray county, Texas, and known locally there as the Mathers-Gordon project.
Pursuant to the terms of the purchase and sale agreement, the purchase price for the assets is the payment to Maxwell on closing of $2.2-million (U.S.) ($2,395,800 (Canadian)), subject to certain adjustments.
Pursuant to a finder's fee agreement between the company and Garth Braun dated Oct. 2, 2009, the company will issue 490,743 common shares to Mr. Braun which represents 5 per cent of the transaction's purchase price, issuable at a deemed price of 25 cents as consideration for his locating the assets, and his assistance with the negotiation, evaluation and due diligence of the qualifying transaction.
The exchange has been advised that the above transaction has been completed. The full particulars of the company's acquisition of the Mathers-Gordon project are set forth in the filing statement, which has been accepted for filing by the exchange and which is available under the company's profile on SEDAR.
Capitalization: Unlimited shares with no par value of which 37,403,208 shares are issued and outstanding
Escrow: 10 million common shares are subject to a 36-month staged release escrow, of which one million are authorized to be released on issuance of this bulletin
Transfer agent: Computershare Investor Services Inc.
Old symbol: BBI.P
New symbol: BBI