Deer Horn Announces Stock Option Grant
Vancouver, BC, Canada, June 16, 2016 - Deer Horn Capital Inc. (CSE: DHC) (the “Company” or “Deer Horn”), announces that it has granted a total of 1,000,000 incentive stock options to directors, officers and/or consultants under the Company's Stock Option Plan. The options are exercisable at $0.05 per share and will expire June 16, 2021.
The Company also wishes to advise of use of proceeds on its private placement (the "Offering") announced on June 15, 2016. Assuming the entire $300,000 Offering is completed, the proceeds received will be used as follows: trade payables ($200,000), management fees for CEO and CFO ($40,000); consulting fees ($10,000) transfer agent/regulatory and filing fees ($10,000); legal ($10,000) and unallocated/general corporate purposes ($30,000). Although the Company intends to use the proceeds of the Offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Offering is not fully subscribed, the Company will apply the proceeds of the Offering to the above uses in priority and in such proportions as management of the Company determines is in the best interests of the Company.
The Company also confirms that there is no material fact or material change about the Company that has not been generally disclosed.
On behalf of the board of directors of Deer Horn Capital Inc.
President and CEO
For further information please contact:
Deer Horn Capital Inc.
(604) 789 5653
Neither the Canadian Securities Exchange nor its regulations services accepts responsibility for the adequacy or accuracy of this release.
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.