Blue Fyre One Inc. completes Initial Public Offering

OTTAWA, Sept. 13 /CNW Telbec/ - Blue Fyre One Inc. (the "Corporation") is
pleased to announce that on September 12, 2005, the Corporation successfully
completed its initial public offering of 2,400,000 common shares (the "Common
Shares") at $0.25 per share for gross proceeds of $600,000. As a result of
this issuance, the Corporation has 3,500,000 Common Shares issued and
outstanding. The Corporation has also granted options to acquire an aggregate
of 350,000 Common Shares at an exercise price of $0.25 per share to the
directors, officers and consultants of the Corporation, which will expire
5 years from the date of grant. In addition, the Corporation granted an option
to acquire an aggregate of 240,000 Shares (the "Agent's Option") at an
exercise price of $0.25 per share to Raymond James Ltd., who acted as agent
for the offering. The Agent's Option will expire 18 months from the date the
Corporation's Common Shares are listed on the TSX Venture Exchange (the
"Exchange"). The Corporation is a capital pool company pursuant to Policy 2.4
of the Exchange.
Investors are cautioned that trading in the securities of a capital pool
company should be considered highly speculative.
The Exchange has conditionally approved the listing of the Corporation's
Common Shares on the Exchange and the Corporation now plans to make
application to the Exchange for final listing approval. It is expected that
the Corporation's trading symbol will be "BLU.P"

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