Blue Note files Plan of Arrangement

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Blue Note Mining is a Canadian mineral exploration and mining company headquartered in Montreal. The company's shares trade on the TSX Venture Exchange under the symbol BNT.

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Blue Note files Plan of Arrangement

posted on Jul 08, 2009 12:43PM

Blue Note Files Plan of Arrangement

Montreal, QC, June 22, 2009 – Blue Note Mining Inc. (“Blue Note” or the “Corporation”) today filed its plan of arrangement and reorganization (the “Plan”) with the Quebec Superior Court. Blue Note will put the Plan to a vote by its creditors (the “Creditors”) on July 17, 2009.

As more fully described in Blue Note’s press release of June 15, 2009, under the Plan the Creditors would receive cash and new common shares of Blue Note under a shares-for-debt transaction. They would also gain the right to appoint two directors to the Corporation’s board in addition to Blue Note’s current directors. The Plan also provides for a one for 30 share consolidation of Blue Note’s shares.