Welcome!

News Feed Item

BluMetric Environmental Inc. (formerly Seprotech Systems Incorporated) closes reverse takeover transaction with WESA

OTTAWA, Nov. 21, 2012 /CNW/ - BluMetric Environmental Inc. (TSXV: BLM) ("BluMetric" or the "Company") is an integrated product and service organization providing intelligent solutions to complex environmental problems in Canada and abroad.  BluMetric completed its previously announced reverse takeover transaction (the "Transaction") with WESA Group Inc. ("WESA") on November 16, 2012 pursuant to which BluMetric acquired 100% of privately-held WESA, following which it amalgamated with WESA.

Concurrent with the closing of the Transaction the directors of the Company are Mark Stirling, Denis Douville, Jordan Grant, William Touzel and Roger Woeller. Mr. Woeller replaces Harry Marshall on the Board.  Mr. Stirling and Mr. Douville are independent directors.

The Board of Directors has appointed the new executive officers of BluMetric as follows:

William (Bill) M. Touzel, Chief Executive Officer
Roger M. Woeller, Chief Corporate Development Officer
Harry J. Marshall, President - Water & Wastewater Division
Nell van Walsum, President - Professional Services Division
Ian W. Malone, Chief Financial Officer

Prior to the amalgamation, BluMetric completed the consolidation of its issued and outstanding common shares on a one-for-ten basis, and changed its name from "Seprotech Systems Incorporated" to "BluMetric Environmental Inc."  The TSX.V has provided final acceptance of the Transaction and has advised that it will recommence trading of the common shares of BluMetric on November 22, 2012, under the symbol BLM.

Concurrent with completion of the merger, BluMetric completed a brokered Private Placement (the "Private Placement") of 1,558,206 common shares of the Company at a price of $0.67 per share for gross proceeds of approximately $1,044,000.  All securities issued in the Private Placement are subject to a four month hold period expiring March 17, 2013.

Jacob Securities Inc. ("Jacob") acted as agent for the Private Placement.  In consideration for its services as agent, Jacob was paid a cash commission totaling $43,463.  In addition, Jacob has been provided non-transferrable broker warrants to acquire 66,184 common shares exercisable for a period of 24 months from the closing date at a price of $0.67 per share.  Jacob has also been reimbursed for legal and other direct costs of the Private Placement.

About BluMetric

BluMetric is an integrated product and service organization providing intelligent solutions to complex environmental problems in Canada and abroad.

The Company serves clients in many industrial sectors, and at all levels of government, both domestically and internationally.

BluMetric operates through two divisions:

  • a professional services division focussed on environmental earth sciences and engineering, contaminated site remediation, water resource management, industrial hygiene and occupational health & safety, and renewable energy.  This division operates under the names "WESA", "Envir-Eau", and "OEL-HydroSys".
  • a water & wastewater division providing both design-build and pre-engineered product solutions to clients' water and wastewater treatment needs.  This division operates under the names "WESAtech" and "Seprotech".

More information can be obtained at www.blumetric.ca

Forward-looking Statements

This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Readers are cautioned that the plans, intentions or expectations disclosed in any forward-looking statements, and the underlying assumptions may not be achieved and that readers should not place undue reliance on any forward-looking statement, each of which is expressly qualified in its entirety by this cautionary statement.  Although BluMetric believes that the expectations conveyed by the forward-looking information are reasonable based on information currently available to it, these statements are not guarantees and involve a number of risks and uncertainties, both known and unknown, and assumptions. The results or events depicted in these forward-looking statements may differ materially from actual results or events.  Many factors could cause results to differ materially from those stated, including the ability of BluMetric to retain existing customer contracts; risks related to integration upon the completion of the Transaction; and the ability to retain and obtain qualified staff as well as various other factors which are discussed in filings with applicable securities regulatory authorities at www.sedar.com. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, BluMetric disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

The TSX.V has in no way passed upon the merits of the Transaction, and neither TSX.V nor its Regulation Services Provider (as that term is defined in the policies of the TSX.V) accepts responsibility for the adequacy or accuracy of this release.  The TSX.V has neither approved nor disapproved of the information contained herein.

SOURCE BluMetric Environmental Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.