OTTAWA, June 16, 2016 /CNW Telbec/ - BluMetric Environmental
Inc. (TSX.V: BLM), an Ottawa-based cleantech company, announced that it will delay the principal
repayment of its Convertible Debentures (Maturity Date June 27, 2016), and, in accordance with the
terms of those Debentures, will pay the semi-annual instalment of interest accrued on the Debentures and falling due on the
Maturity Date. From the Maturity Date, the Debentures will bear interest at the default rate of 12% per annum until repayment
in full of the principal and interest.
In the Company's press release dated May 30, 2016, the Company stated that it is actively engaging
with an institution to replace the existing convertible debentures with another medium-term financing arrangement. Although
the Company's negotiations have resulted in a letter of intent with the financial institution and continue to progress, BluMetric
does not expect that the replacement financing will be in place prior to the Maturity Date of the Convertible Debentures.
For additional information, please refer to the Company's filings at www.sedar.com.
About BluMetric
BluMetric Environmental Inc. is a diverse water, earth, and energy company providing solution-oriented consultation,
design, products, and construction services to clients with complex environmental issues in more than 61 countries. With our
award-winning team of industry experts and technology, BluMetric provides the finest effective and sustainable solutions to
environmental challenges. BluMetric is a publicly traded Canadian company (TSX-V: BLM), headquartered in Ottawa, Ontario. For more information, visit www.BluMetric.ca.
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's discussions with financial institutions,
repayment of convertible debentures, quarterly and annual results, future products, opportunities and cost initiatives, strategies
and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words
such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking
statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information
concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead
represent only the Company's expectations, estimates, and projections regarding future events. The Company does not undertake any
obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date
of this presentation or to reflect the occurrence of unanticipated events, except as required by law.
Neither 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.
SOURCE BluMetric Environmental Inc.
