2013-10-30 14:01:07 -
Montreal, Quebec CANADA, October 30, 2013 /FSC/ - Blue Zen Memorial Parks Inc. (BZM - CNSX"Blue Zen" or the "Company")is pleased to provide its shareholders with this corporate update.
Reference is made to the Company's Press Release of October 28, 2013, in which it was announced that the Company's Board of Directors approved a Share Purchase Agreement ("Agreement") between two shareholders, Mr. Albert Barbusci and Sun Enterprises Group Ltd. ("SEG
Pursuant to the Agreement, Blue Zen has issued an interest-bearing note in the principal amount of 600,000 US dollars to SEG, which Blue Zen promises to pay to SEG on May 1, 2016 (the "Maturity Date Interest will accrue at a rate of 0.5% per annum. Blue Zen may, at
its option, and at any time prior to the Maturity Date, elect to convert the principal as well as any accrued and unpaid interest outstanding into common shares in the capital of Blue Zen, at a conversion price of $0.10 Cdn per share.
There are 36,401,420 common shares of Blue Zen issued and outstanding.
Safe Harbor Statement
This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Blue Zen Memorial Parks Inc. Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Blue Zen will derive there from. Forward-looking information is based on the estimates and opinions of Blue Zen's management at the time the information is released and Blue Zen does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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Source: Blue Zen Memorial Parks Inc. (CNSX: BZM)
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