Ottawa, Ontario--(Newsfile Corp. - July 5, 2023) - BluMetric Environmental Inc. (TSXV: BLM) ("BluMetric" or "the Company"), a full-service environmental consulting and engineering cleantech firm, announces that it has signed a service agreement ("Agreement") with the Ontario-based Otis Investor Relations Inc. ("Otis IR"), to develop and execute a comprehensive investor relations program. The program's goal is to broaden the Company's shareholder base, manage investor communications and expectations, and provide BluMetric with capital markets advisory.
"With BluMetric entering a new phase of growth, we are enthusiastic about augmenting our investor relations program as we fully capitalize on expansion opportunities," stated Scott MacFabe, CEO of BluMetric. "With a proven track record in addressing environmental challenges and ensuring water security, we are eager to engage with the investment community and leverage Otis IR's expertise in sustainability-linked microcaps."
"I admire BluMetric's evolution in positioning itself to benefit from recurring environmental engineering services and creating new growth with its watertech products," said Brandon Chow, Principal and Founder of Otis IR. "I expect BluMetric to play an important role in servicing the world's increasingly higher standards of environmental stewardship and compliance. I am excited to work with Scott and his team at BluMetric in executing the next phase of its investor relations program."
Pursuant to the Agreement, the Company will pay Otis IR a monthly fee of $6,500, plus applicable taxes and reasonable expenses, on a month-to-month basis. The costs of the activities under the Agreement with Otis IR are expected to be funded with cash on hand. The Agreement remains in force for a period of one year unless either party terminates the Agreement by providing the other party 30 days' prior written notice of termination. Also pursuant to the Agreement, 31,250 options to purchase common shares will be granted to Brandon Chow, principal and sole shareholder of Otis IR. These options are granted effective July 5, 2023 and will vest and be exercisable into common shares on the first anniversary at a price of $0.40 per share. The options will expire after five years. All stock options are subject to the terms and conditions of the Company's previously approved Stock Option Plan and approval by the TSX Venture Exchange.
Brandon Chow, the principal and sole shareholder of Otis IR, currently has direct ownership of 21,000 common shares of BluMetric.
The Agreement is subject to the regulatory acceptance by the TSX Venture Exchange.
About BluMetric Environmental Inc.
BluMetric Environmental Inc. is a publicly traded environmental consulting and engineering company with expertise across professional and trade disciplines and technologies that allow for the design, fabrication and delivery of sustainable solutions to environmental and water challenges. BluMetric has more than 160 employees operating in ten offices and over 40 years of expertise. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Military, Mining and Government clients in Canada and the United States.
For more information, visit www.blumetric.ca or please contact:
Scott MacFabe, CEO
BluMetric Environmental Inc.
Tel: 1-877-487-8436
Email: smacfabe@blumetric.ca
Vivian Karaiskos, CFO
BluMetric Environmental Inc.
Tel: 1-877-487-8436
Email: vkaraiskos@blumetric.ca
Brandon Chow, Principal & Founder
Otis Investor Relations Inc.
Tel: 1-647-598-8815
Email: brandon@otisir.com
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's 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 applicable Canadian 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. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172467
