BluMetric Completes Debt-to-Equity Conversion

About this update from Blumetric Environmental Inc.

[{"type":"text","content":"\n\n\n\nBluMetric Completes Debt-to-Equity Conversion\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Oct. 23, 2017\n\n\n\nOTTAWA, Oct. 23, 2017 /CNW/ - BluMetric Environmental Inc. (TSXV: BLM), a leading Canadian cleantech company, announced today that the Company has completed the conversion of $122,793 of certain existing debt for 511,638 common shares of the Company, a transaction that was previously announced on October 4, 2017.\n\n\"Our thanks to all those who have participated in our ongoing focus on reducing debt and improving our balance sheet,\" said Roger Woeller, CEO of BluMetric Environmental Inc. \"It improves our working capital position and enables us to grow more effectively.\"\n\nThe conversion price was $0.24 per share. All of the securities issuable in connection with the transaction are subject to a hold period ending February 25, 2018.\n\nThe debt-to equity conversion included participation by one insider on the same terms and conditions as the other participants.  Ron Donaldson, through his holding company, is considered a related party within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Board of Directors determined that an exemption is available from the formal valuation and minority shareholder approval requirements under MI 61-101. \n\nAbout BluMetric Environmental Inc.BluMetric Environmental Inc. is a publicly traded cleantech company with a portfolio of industry-leading products, processes, and services in the environment sciences and engineering sectors.  We take pride in our strong record of providing sustainable solutions to the world's environmental challenges.  \n\nHeadquartered in Ottawa, Ontario, BluMetric's award-winning team of industry experts serves clients in Canada, the United States, and Central America.\n\nFor more information, visit www.blumetric.ca, or please contact:\n\nForward-Looking Statements Some of the statements in this press release, including those rela...

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