Deer Horn Announces Closing of 2nd Tranche of Private Placement
Deer Horn Announces Closing of 2nd Tranche of Private Placement
Vancouver, BC (FSCwire) - Deer Horn Capital Inc. (CSE: DHC) (the "Company" or "Deer Horn") announces that it has now closed the 2nd and final tranche of its previously announced private placement and has issued a total of 750,000 common shares for total gross proceeds of $15,000.The issuance of these shares was completed under the Partial Revocation Order obtained from the BCSC earlier this year.
All of the Company's securities, including the shares issued in connection with this financing, remain subject to the cease trade order issued against the Company on January 30, 2017 (the "CTO") for failing to file certain outstanding continuous disclosure documents in a timely manner.In addition, in accordance with applicable securities legislation, the common shares issued pursuant to this private placement are subject to a hold period of four months and a day from the closing date of the financing.
The Company is in the process of finalizing its outstanding 2016 year end audited financial statements, the subsequent interim statements and all corresponding continuous disclosure documentation and anticipates that it will be in a position to file these documents on SEDAR shortly.Once all outstanding continuous disclosure documents have been filed, the Company expects to then make application for a full revocation of the CTO.
About Deer Horn
Deer Horn is exploring and developing the Deer Horn Property, a rich gold and silver project with high tellurium grades. The Deer Horn Property, located in north-central British Columbia, has produced positive economics in a Preliminary Economic Analysis and, to our knowledge, hosts Canada's only NI 43-101 tellurium resource.
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On behalf of the board of directors of Deer Horn Capital Inc.
"Tyrone Docherty" Tyrone Docherty President and CEO |
For further information please contact:
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Neither the Canadian Securities Exchange nor its regulations services accepts responsibilityfor the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.In particular, this news release contains forward-looking information regarding the completion and filing of outstanding continuous disclosure documents, the application for a full revocation of the CTO. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. These assumptions include, but are not limited to: future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand for, and market acceptance of, the offering. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control.Readers should not place undue reliance on forward-looking statements.Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/DeerHorn09142017.pdf
Source: Deer Horn Capital Inc. (CSE:DHC, OTC Pink:GODYF)
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