Vancouver, British Columbia (FSCwire) - Deer Horn Capital Inc. (CSE: DHC)
(the “Company” or “Deer Horn”), announces that the directors of Deer Horn Capital have decided
it is in the best interest of the shareholders to cease operations of our Bodhi Natural Market store in Maple Ridge, B.C.
After 11 months of operation, the store has failed to reach anticipated sales levels. As a result, Deer Horn Capital has
had to continue to finance the store to the detriment of its own corporate cash requirements. The Company is not in a position to
continue providing cash assistance to the Bodhi store.
With the interest in the junior mining sector increasing recently, the board of directors has decided to concentrate its
efforts on advancing the Deer Horn mineral property located near Smithers, B.C. The Deerhorn property was the subject of a
positive Preliminary Economic Assessment report in 2013.
On behalf of the board of directors of
Deer Horn Capital Inc.
“Tyrone
Docherty”
Tyrone Docherty
President and CEO
For further information please contact:
Neither the Canadian Securities Exchange nor its regulations services accepts
responsibility
for 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 shares for debt transaction. 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 shares for debt transaction. 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/DeerHornPRMay172016_0.pdf
Source: Deer Horn Capital Inc. (CSE:DHC, OTC Pink:GODYF)
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