Blue Earth Signs Binding LOA to Acquire Xnergy

Blue Earth, Inc. announced a binding Letter of Agreement to acquire Xnergy, a California-based energy services company, for up to $18.5 million in a mix of restricted stock, cash, and a promissory note. The acquisition is expected to close upon signing a Definitive Agreement.

“Blue Earth, Inc. (OTCBB: BBLU) is pleased to announce that it signed a binding Letter of Agreement (“LOA”) to acquire Xnergy, a California based energy services company for up to $18,513,586, payable in 4,500,000 restricted shares of Blue Earth, Inc. common stock valued at $3.00 per share, cash of $2,013,586 and a promissory note of up to a $3 million maximum, which will be determined prior to signing a Definitive Agreement.”

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