Deer Horn Capital Announces Intention to Enter Organic Supermarket Industry and Non-Brokered Private Placement of up to $1,000,000
Vancouver, British Columbia (FSCwire) - Deer Horn Capital Inc. (the “Company” or “Deer Horn”) announces that its board of directors has approved a proposal from management for the Company to own and operate a new brand of organic supermarkets in Canada. Working with a team of experienced professionals from within the organic foods and grocery industries, Deer Horn is currently assessing locations in British Columbia’s Lower Mainland for the Company’s first store. Plans call for opening the first location in the summer of 2015.
“Canada’s market for organic food is growing quickly as consumers take a greater interest in how their food is produced,” said Tyrone Docherty, President and Chief Executive Officer of Deer Horn Capital. “In our home province of British Columbia, one study indicated that almost two-thirds of people put organic products in their shopping carts each week. We believe our team will quickly differentiate its new brand, offering competitive pricing while leading the way in product quality and customer service. This is an exciting time for our Company and its shareholders.”
Near-term work includes leasing a location for the flagship store and beginning the retrofitting process, finalizing details regarding the new brand and completing a comprehensive marketing plan. Deer Horn expects to debut the brand and introduce the members of its supermarket team in the next few months.
In addition, Deer Horn announces that it plans to raise up to $1,000,000 by conducting a non-brokered private placement of up to 10,000,000 units of the Company at a price of $0.10 per unit. Each unit will consist of one common share in the capital of Deer Horn and one-half of one (½) share purchase warrant. Each whole warrant will be exercisable into one common share for a period of two years at a price of $0.15/share during the first year and $0.20/share during the second year. The proceeds from this private placement will be used to fund the implementation of the Company’s organic supermarket business, including the set-up of the flagship store referenced above, and for general working capital. A finder’s fee of cash, common shares or warrants, or a combination thereof, may be paid to eligible finders in compliance with applicable securities laws.
As previously announced, and due to current market conditions in the resource sector, Deer Horn intends to maintain its current resource portfolio while evaluating new projects that have the potential to bring cash flow to the Company and enhance shareholder value. The decision to enter the organic supermarket sector is one of a number of potential projects management is assessing. The Company will provide shareholders with updates on the status of all projects, plus other opportunities, as information becomes available.
For further information please contact:
Primary Contact
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Tyrone Docherty
President
Deer Horn Capital Inc.
(604) 952 7221
tyrone@deerhorncapital.ca
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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 Company’s intent to enter the organic foods and grocery industry, the private placement offering and the use of proceeds of the financing. 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: locating an acceptable site for a flagship store; creating a brand and business plan with respect to the proposed organic supermarket business; engaging professionals experienced in the organic food and grocery industry to manage the implementation of the business plan and opening of the flagship store and thereafter the operations of the organic supermarket business; future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand for, and market acceptance of, the private placement. 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. The Company’s actual results, performance or achievement could differ materially from those expressed in or implied by, the forward looking information and accordingly, no assurance can be given that any of the events anticipated to occur or transpire form the forward looking information will provide any benefits to the Company. 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 to revise them to reflect the occurrence of future unanticipated events.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility
for the adequacy or accuracy of the contents of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/DeerHornJan152015.pdfSource: Deer Horn Capital Inc. (CSE:DHC, OTC Pink:GODYF)
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