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EXHIBIT 99.1
BLUE ZONE COMPLETES PRIVATE EQUITY PLACEMENT
TORONTO, SEPTEMBER 12, 2000 -- BLUE ZONE, INC. (NASDAQ: BLZN), the interactive
broadcast solutions company and NewsBZ(TM) software developer, announced today
that it has completed a private placement of its securities led by a New
York-based investment fund. Blue Zone will receive US $4 million at closing and
an additional US $1 million when the Company registers the securities with the
SEC.
Warrants issued to the investors in relation to this equity placement contain
anti-dilution provisions and the number of shares underlying the warrants may be
increased in certain circumstances.
Moreover, Blue Zone granted the investors a one-year option to acquire up to an
additional US $2 million in securities, based on then-prevailing market prices.
"This financing caps off a number of successes in the past year," said Blue Zone
CEO Bruce Warren. "We developed and licensed our interactive broadcast software
NewsBZ(TM); significantly expanded our strategic consulting and technology
integration capabilities with key hires and two new studios; and achieved a
listing on the Nasdaq, the preeminent public market for tech stocks. We look
forward to delivering increased value to our shareholders as the result of
substantial US and international growth opportunities presented by this
financing."
"We will use this financing to enhance Blue Zone's research and development,
penetrate new markets and reinforce our position as world leaders in interactive
software and broadcast services," said Blue Zone president Jamie Ollivier.
About Blue Zone
Blue Zone makes news interactive. Blue Zone's NewsBz(TM) software integrates TV,
radio, the Internet and print media. By enhancing interactivity between
broadcasters, advertisers and viewers, NewsBz(TM) enables broadcasters to
develop new revenue streams and new audiences. Blue Zone's clients -- including
Canada's number one news organization CTV -- use customized NewsBz(TM) software
to enrich their programs and simultaneously publish content to television,
radio, set-top-boxes, the Internet, cell phones and other handheld devices.
Prepare to adjust your set.(TM) www.bluezone.net
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by the company) contains statements that are
forward-looking, such as statements relating to anticipated future revenues of
the company and success of current product offerings. Such forward-looking
information involved important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such results may
differ materially from those expressed in any forward-looking statements made by
or on behalf of the company. For a description of additional risks and
uncertainties, please refer to the company's filings with the Securities and
Exchange Commission.
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For more information, please contact
Christopher Moreno
Director of Investor and Regulatory Affairs
Blue Zone
