TORONTO, ONTARIO--(Marketwired - Dec. 5, 2014) - Niagara Ventures Corporation ("NVC") (TSX VENTURE:NIA.P) is pleased to announce that it has completed its previously announced acquisition (the "Transaction") of all of the issued and outstanding common shares of Blu-Dot Beverage Company Inc. ("Blu-Dot"). As a result of the Transaction, Blu-Dot became a wholly-owned subsidiary of NVC. The Transaction constitutes the "Qualifying Transaction" of NVC pursuant to the policies of the TSXV.
The Transaction was completed pursuant to the terms and conditions of a share purchase agreement dated November 24, 2014 entered into between NVC and the shareholders of Blu-Dot (the "Definitive Agreement"). Under the terms of the Definitive Agreement, holders of common shares of Blu-Dot received an aggregate of 7,162,500 common shares of NVC. Up to 2,562,500 additional common shares of NVC are issuable to Kevin Stratton, the President and Chief Executive Officer of Blu-Dot, provided that certain performance criteria are met by Blu-Dot prior to December 31, 2015.
Following the closing of the Transaction, Kevin Stratton, Scot Martin and Stacey Mowbray were elected to the board of directors of NVC (in addition to Larry Phillips, Scott Anderson, Jeffrey Mores and Ron McEachern).
The common shares of NVC are expected to resume trading on the TSX Venture Exchange (the "TSXV") under the symbol "NIA" on or about December 11, 2014. An aggregate of 19,916,032 common shares of NVC are now issued and outstanding following the closing of the Transaction.
Blu-Dot is a corporation engaged in the development, production, distribution and sale of "better-for-you" ready-to-drink beverage products in support of a healthy lifestyle. The current product portfolio of Blu-Dot includes a line of all natural "Protein Teas" currently available in five flavours: Orange Pineapple, Blueberry Acai, Apple Pear, Honey Lemon and Cranberry Pomegranate.
Further information concerning NVC, Blu-Dot and the Transaction is contained in the filing statement of NVC dated November 25, 2014 prepared in connection with the Transaction (the "Filing Statement"). The Filing Statement is available for review under NVC's corporate profile on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.