TORONTO, ONTARIO--(Marketwired - Nov. 11, 2015) - BlueOcean NutraSciences Inc. (TSX VENTURE:BOC) ("BlueOcean" or the "Company") announces that it has entered into a shares-for-debt agreement totaling $2,500, with a non-arm's-length party with regard to outstanding management fees and proposes to settle the debt through the issuance of 50,000 common shares (the "Shares") of the Company at a deemed price of $0.05, subject to the approval of the TSX Venture Exchange. The Shares issued will be subject to a 4-month-plus-1-day hold period from the date of issuance.
This shares-for-debt settlement and subsequent issuance of Shares will not create a new Control Person.
About BlueOcean
BlueOcean is a Canadian company that develops specialty oils from multiple sources, using innovative product platforms targeted at the rapidly growing health and Wellness and Animal Feed markets.
Forward Looking Statements
This news release may contain forward-looking statements that are based on BlueOcean's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the 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.