Pacific Blue Energy Corp. Provides Update on Acquisition of Gila Bend Property

PHOENIX, Sept. 23 /PRNewswire-FirstCall/ - Pacific Blue Energy Corp. (OTCBB: PBEC), a publicly traded developer of renewable energy projects, today announced that an option for the purchase of 100 acres in the town of Gila Bend in Maricopa County, Arizona has been extended to December 10, 2010 from the original closing date of September 10, 2010.

When the sale is final, PBEC plans to take advantage of the town's favorable support for renewable energy by building a utility-scale solar energy project. That support, which was previously expressed by members of the Gila Bend Town Council in a past news release, will hopefully provide an opportunity for PBEC to fast-track the permitting process.

"This land will be an important part of PBEC's portfolio," says PBEC CEO Joel Franklin. "With Gila Bend's commitment to the solar industry, PBEC is interested in capitalizing on the opportunity to expand its ability to deliver renewable energy to the region."

In order to secure the extension on the purchase of the 100 acres, PBEC had to cancel the option on the 707 acres adjacent to that property. However, the Company's intention remains to purchase and develop all 807 acres.

About Pacific Blue Energy Corp.

Pacific Blue Energy Corp. (PBEC) is a publicly traded solar energy company that seeks to build and manage large renewable energy projects. PBEC's goal is to maximize shareholder value through select property acquisition, timely renewable energy facility construction and informed management of those projects. Headquartered in Arizona, one of the prime solar energy markets in the United States, PBEC is positioned to take advantage of technological advances that will drive the coming surge in the U.S. solar generated electricity market.

More information is available at www.PacificBlueEnergyCorp.com

Safe Harbor for Forward-Looking Statements

Statements that are not statements of historical or current fact constitute "forward-looking statements." Such statements can often be identified by use of words such as "believe," "expect," "estimate," "intend," "anticipate," "plan," to be uncertain and forward-looking. Forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause our actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) future financial results and financing requirements; (ii) our ability to control and manage our growth; (iii) the effectiveness, profitability, and marketability of our current and prospective products and services; (iv) our ability to protect proprietary information; (v), the impact of current, pending, or future legislation and regulation on our industry; and (vi) the impact of competitive products, services, pricing or technological changes. Additional risks and forward-looking statements are set forth from time to time in our filings with the United States Securities and Exchange Commission; including our Annual Reports on Form 10-K and our quarterly reports on form 10-Q, which are available on the Commission's website at www.sec.gov. All forward-looking statements included are made as of the date of this information, and we assume no obligation to update any such forward-looking statements.

SOURCE Pacific Blue Energy

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED