BLUE RIVER RESOURCES LTD. ANNOUNCES SHARE EXCHANGE AGREEMENT
Vancouver, BC November 7, 2013 - Blue River Resources Ltd. (the "Company" or "Blue River") (TSX VENTURE: BXR) has entered into an agreement with Global Resources Investment Ltd., an arm's-length party to the company, pursuant to which the company has agreed to subscribe for 417,717 new ordinary shares of Global Resources Investment Trust PLC (GRIT) at a subscription price of one pound per share. In consideration of the purchase of the GRIT shares, the company has agreed to issue to GRIT 10 million common shares at a deemed price of 4.177 pence per share, which is the equivalent of approximately 7 cents per share. The value of the transaction is approximately $700,000 based on the current exchange rate. Upon closing the 10 million shares will represent approximately 19 per cent of the then issued and outstanding shares of the company.
GRIT has been established to exploit investment opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium- and long-term capital growth. GRIT is seeking listing of its ordinary shares on the main market of the London Stock Exchange, and will be re-registered as a public company and constituted as a U.K. investment trust with the name Global Resources Investment Trust. The company will subsequently resell the GRIT shares through the facilities of the LSE to realize net cash proceeds. The company intends to use the proceeds to finance development of the Mazama Copper project in Okanagan County, Washington.
Closing of the transaction is subject to a number of conditions precedent, including final acceptance of the TSX Venture exchange, and GRIT successfully listing on the LSE.
ON BEHALF OF THE BOARD
BLUE RIVER RESOURCES LTD.
Tel: (604) 682-7339