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BLUMETRIC ENVIRONMENTAL INC (SEPROTECH)

Seprotech Systems Incorporated (TSX-V: SET; “Seprotech” or the “Company”) is pleased to advise that at the Company’s special meeting of shareholders held on October 24, 2012, the shareholders approved, subject to the final approval of the TSX Venture Exchange (“TSX.V”), the proposed acquisition of WESA Group Inc. (“WESA”).  The resolution was approved by a majority of the votes cast by shareholders, excluding the votes cast by any shareholders required to be excluded from voting.

The shareholders also approved the following:
  1. The change of name of the Company to “BluMetric Environmental Inc.”
  2. The consolidation of the common shares of the Company on a 1-for-10 basis
  3. The reduction in stated capital of the Company to $1
  4. An amendment to the Share Option Plan of the Company increasing the number of shares that may be issued thereunder to 3,200,000 (after giving effect to the share consolidation). Certain Insiders and their affiliates were excluded from voting on the amendment.
Pursuant to the share exchange agreement, Seprotech will acquire 100% of privately held WESA in a reverse takeover (the “Transaction”). Upon completion of the Transaction, the combined entity (the “Resulting Issuer”) is expected to be a leading provider of earth science and environmental engineering services, and wastewater and water treatment systems. The intent is to build an integrated product and service organization that provides intelligent solutions to complex environmental problems both in Canada and abroad.


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