TORONTO, ONTARIO -- (Marketwire) -- 12/01/10 -- Blue Vista Technologies Inc. (TSX VENTURE: BV.H) announces that the merger transaction between Blue Vista Technologies Inc. (the 'Company) and SKA International Ltd. ('SKA') detailed in the press release of November 5, 2009, has been terminated. TAG has agreed to pay a breach fee of $25,000 in connection with the termination of the transaction.
The Company will now focus on identifying new opportunities for the Company and will attempt to settle outstanding indebtedness and raising funds by way of private placement in an effort to strengthen its balance sheet.
Shares Outstanding: 3,626,882
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.