UNITED ~~STATESSECURITIES~~STATES SECURITIES AND EXCHANGE ~~COMMISSIONWashington~~COMMISSION Washington, D.C. 20549

FORM 8-K

CURRENT ~~REPORTPursuant~~REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

~~April~~June 1930, ~~2007Date~~2008 Date of Report (Date of ~~earliest~~ earliest event reported)

BALSAM VENTURES, INC. (Exact name of registrant as specified in its charter)

NEVADA	000-32011	52-2219056
(State or other jurisdiction of	(Commission File	(IRS Employer Identification No.)
incorporation)	Number)
1480 Gulf Road, Suite 204
Point Roberts, WA		98281
(Address of principal executive offices)		(Zip Code)

(360) 306-0230

1480 Gulf Road, Suite 204
Point Roberts, WA	98281
(Address of principal executive offices)	(Zip Code)

(360) 306-0230 Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:

~~______~~____ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

~~______~~____ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

~~______~~____ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

~~______~~____ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On ~~April~~June 1930, ~~2007~~2008, Balsam Ventures, Inc. (the “Company”) ~~entered~~ entered into a ~~loan~~Release ~~agreement (the “Loan~~ Agreement”) with ~~Black~~Norpac ~~Pointe~~Technologies, ~~Holdings~~ Inc. (“~~Black Pointe~~Norpac”), pursuant to which the Company ~~borrowed~~agreed ~~$60,000~~to ~~from~~release ~~Black Pointe.~~Norpac ~~The~~from ~~loan~~any tolegal ~~the~~claims ~~Company~~and ~~extends~~liabilities in ~~for~~connection with a ~~period~~license ofagreement ~~one~~dated ~~year~~November 30, ~~matures~~2003, as amended on ~~April~~January 1912, ~~2008~~2006, (the “License Agreement”) between the Company and ~~accrues~~Norpac ~~interest~~(the “Release”). atUnder athe ~~rate~~terms of 8%the ~~per~~License ~~annum.~~Agreement, ~~The~~Norpac ~~loan~~had ispreviously ~~unsecured~~granted a license to the Company over its self chilling beverage container technology. However, Norpac’s patents over this technology expired. As such, in exchange for the Release, Norpac agreed to:

A copy of the Loan Agreement and the promissory note evidencing the loan agreement are filed as exhibits to this report.

(a)	surrender for cancellation the 5,545,000 shares of the Company’s common stock which were issued to Norpac under the License Agreement; and

(b)	assign an indebtedness owed to Norpac of approximately $612,000 plus accrued interest to the Company. Readers are cautioned that there is substantial doubt that the Company will be able to collect any or all of this indebtedness.

~~SECTION~~The 9summary –of ~~FINANCIAL~~the ~~STATEMENTS~~foregoing ~~AND~~is ~~EXHIBITS~~qualified in its entirety by reference to the Release Agreement, which is included as an exhibit to this Current Report on Form 8-K.

ITEM 9.01		FINANCIAL STATEMENTS AND EXHIBITS.
(d)	Exhibits

SECTION 2 FINANCIAL INFORMATION

Exhibit
Number	Description of Exhibit
10.1	Loan Agreement between Balsam Ventures, Inc. and Black Pointe Holdings Inc. dated as of April 19, 2007
10.2	Promissory Note executed by Balsam Ventures, Inc. dated as of April 19, 2007

ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS

~~SIGNATURE~~The details of the Release Agreement are described under Item 1.01 of this Current Report on Form 8-K.

~~Pursuant~~SECTION ~~to the requirements of the Securities Exchange Act of~~9 FINANCIAL ~~1934,~~STATEMENTS ~~the~~AND ~~registrant~~EXHIBITS ~~has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~

	BALSAM VENTURES, INC.
	By:	/s/ John Boschert
Date:April 20, 2007
		JOHN BOSCHERT
		Chief Executive Officer, Chief Financial Officer
		President, Secretary and Treasurer
		and Director

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

2(d) Exhibits.

Exhibit
Number		Description of Exhibit

10.1		Release Agreement dated June 30, 2008 between Balsam Ventures, Inc. and Norpac Technologies, Inc.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BALSAM VENTURES, INC.

Date: July 7, 2008
	By:	/s/ John Boschert

		JOHN BOSCHERT
		Chief Executive Officer, Chief Financial Officer
		President, Secretary and Treasurer
		and Director

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