CANTON, Ga., Feb. 11, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) announces that it has repaid the Convertible Promissory Note owed to Asher Enterprises, Inc. ("Asher") due on June 18, 2014 early and in full. As a result none of that debt can be converted into shares of Blue Water's common stock which nullifies the Schedule 13G filed by Asher on January 17, 2014.
Blue Water's President and CEO, J. Scott Sitra, stated, "Blue Water is always looking at ways to maximize shareholder value. With that in mind our shareholders should be happy to learn that we continue to manage our finances effectively and have chosen to repay our modest debts with cash rather than allow for the conversion of outstanding Asher debt into deeply discounted shares of our common stock, which would result in unnecessary shareholder dilution and a potentially significant market decline from the subsequent sale of those shares." Mr. Sitra added, "For the record, we fully intend to repay our remaining Asher obligations in the same manner: early and in cash."
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.
CONTACT: Investor Relations Contact Craig Fischer 786.375.0556 firstname.lastname@example.orgSource:Blue Water Global Group, Inc.