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CALGARY, Alberta, March 14, 2018 (GLOBE NEWSWIRE) -- Gold Horn International Enterprises Group Limited (TSX-V:GHE.P) (the “Corporation” or “Gold Horn”) a capital pool company (“CPC”) pursuant to TSX Venture Exchange (the “Exchange”) Policy 2.4 – Capital Pool Companies (the “CPC Policy”), wishes to announce that the deadline for the Corporation to complete its Qualifying Transaction (as defined in the CPC Policy) was February 22, 2018. The Corporation held its annual and special meeting of shareholders on December 22, 2017, at which time, pursuant to the CPC Policy, it received approval to transfer its listing to the NEX, a separate trading board of the Exchange, and to cancel an aggregate of 4,950,000 Seed Shares (as defined by the Exchange) held by Non-Arm’s Length Parties of the Corporation (including the officers, directors, insiders and control persons of the Corporation). As the Corporation did not complete a Qualifying Transaction on or before February 22, 2018, the Corporation intends to transfer to the NEX and to cancel 4,950,000 Seed Shares.

The Corporation has applied for transfer to NEX and the Exchange has advised that it has accepted the application and, that soon after dissemination of this news release, it will issue an Exchange bulletin. The trading symbol for the Corporation will change from “GHE.P” to “GHE.H”. Trading in the securities of a capital pool company should be considered highly speculative.

The Corporation is pleased to advise that it is still pursuing a Qualifying Transaction with Cherub Limited, Tai Elaine Tuen Sheung and Tai Kwai Leung Keith details of which were provided in the Corporation’s January 2, 2018 news release, a copy of which is available on the Corporations profile at www.sedar.com.

For further information please contact: 

Gold Horn International Enterprises
Group Limited:
Vick Dusik, Director
Telephone: (604) 818-4100

Cautionary Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the listing of the Corporation’s ordinary shares on the NEX, the cancellation of certain Seed Shares and the Corporation’s proposal to complete the Qualifying Transaction. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, Exchange acceptance of the Corporation’s transfer to the NEX and the risk that the parties will not proceed with the Qualifying Transaction. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, Cherub, their securities, or their respective financial or operating results (as applicable).

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way passed upon the merits of the Qualifying Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.