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Blue Horizon not to continue oil exploration in Manitoba


Published Jan 9, 2013
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Blue Horizon Industries Inc.

Blue Horizon Industries Inc. reported that its wholly owned subsidiary Blue Horizon Bio-Diesel Inc (BH Bio-Diesel) has successfully completed a $50,000 short-term loan. The Corporation also announces that its wholly owned subsidiary Blue Horizon Energy Inc. (BH Energy), has decided not to re-new its Waskada oilsands lease in Manitoba.

On August 3, 2012 the Corporation's wholly owned subsidiary, Blue Horizon Bio-Diesel entered into a short-term $50,000 loan agreement with a private lender. The terms of the agreement include an annual 12% interest rate and was payable in full on November 30, 2012. The Corporation and the lender are in discussions to amend the term to a mutually agreed date of repayment.

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