Deer Horn Announces Late Filing of Annual Financial Statements and Management Cease Trade Order

Vancouver, British Columbia (FSCwire) - Deer Horn Capital Inc. (CSE: DHC) (the “Company” or “Deer Horn”), announces its annual financial statements, the related management’s discussion and analysis and the related officer certifications for the financial year ended July 31, 2016 (collectively, the “Annual Filings”) will be delayed beyond the filing deadline of November 28, 2016.  The Company’s application for a management cease trade order (the “MCTO”) has been approved and the MCTO has been issued effective November 29, 2016.

The reason for the default in filing the Annual Filings prior to the required deadline is that the Company has insufficient funds to pay for such audit.  On October 7, 2016, the Company issued a press release with respect to its proposed private placement.  Upon complete of the financing, it will pay, among other items, the cost of this audit. 

It is anticipated that the Company will complete the year-end audit before the end of December, 2016.  Timing to complete the Company’s audit in prior year periods has not been an issue in past audits employing the same auditor.  Although the Company cannot be certain of timing there is reason to be confident in the audit being completed in this time frame.  Deer Horn will ensure it updates shareholders of the status of this default on a bi-weekly basis as required by the provisions granting the MCTO. 

During the MCTO, the CFO and CEO will be prohibited from trading in the Company’s shares.

About Deer Horn

Deer Horn Capital 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.

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 timing of completing and filing of the Annual Filings and the completion of a previously announced private placement offering. 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 follow Deer Horn Capital Inc. on your favorite social media platform or financial websites, please click on the icons below.

Maximum News Dissemination by FSCwire. http://www.fscwire.com

Copyright © 2016 Filing Services Canada Inc.