Nano Cap Club

[creede]

Look, a pinky that is going to pay another cash Divy.

Wish I would have held on to the 800 or so shares I had earlier in the year.

Think it would be smart to snag a few?



Blue Earth Refineries Inc. Announces Cash Distribution
Dec 22, 2009 7:31:00 AM


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HONG KONG, Dec. 22 /CNW/ -- Blue Earth Refineries Inc. ("Blue Earth") (Pink Sheets: BUERF) announced today that its Board of Directors (the "Board") has approved a payment of a special cash distribution in the amount of US$0.41 per share. The record date for shareholders entitled to receive the payment will be December 29, 2009. The payment date will be January 7, 2010. The distribution is a return of capital and therefore no withholding tax will be payable.


This distribution will limit Blue Earth from making further cash distributions in the near future unless prices for cobalt stay constant, the existing production levels remain the same and until the delivery of the cobalt has occurred to fulfill the forward derivative obligation.


With the extreme volatility and uncertainty of the market price of cobalt, the inherent production and delivery risks, the Board views this transaction as a way to help control its uncertain future and create value for its shareholders as of today.

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About Blue Earth Refineries Inc.

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Based in Hong Kong, Blue Earth Refineries Inc. owns a cobalt ore refinery company.






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CONTACT:
Rene Randall
604-408-8538
[e-mail]