VANCOUVER, British Columbia, March 27, 2018 (GLOBE NEWSWIRE) -- Deer Horn Capital Inc. (CSE:DHC) (the “Company” or “Deer Horn”), announces that it has now closed the first tranche of its private placement previously announced March 8, 2018 and has issued 1,200,000 common shares at a price of $0.10/share for total proceeds of $120,000. No finder’s fee was paid with respect to this 1st tranche closing.
The Company also completed the previously announced debt settlement transactions pursuant to which it has issued 2,300,000 common shares at a deemed price of $0.10/share to settle $230,000 debt. Certain insiders of the Company were issued a total of 1,500,000 shares under the debt settlements, which are considered related party transactions as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider participation.
About Deer Horn
Deer Horn Capital is exploring and developing the Deer Horn Property, a rich gold and silver project with high tellurium grades.
On behalf of the board of directors of
Deer Horn Capital Inc.
“Tyrone Docherty”
Tyrone Docherty
President and CEO
For further information please contact:
| Primary Contact |
| Tyrone Docherty President Deer Horn Capital Inc. 604 789 5653 tyrone.doccap@dccnet.com |
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. 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. 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.