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Published on April 12, 2024 • 4 minutes reading time
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TORONTO, April 12, 2024 (GLOBE NEWSWIRE) — Blue Horizon Global Capital Corp. (the “Pursue“) (CSE: BHCC), an investment company whose primary objective is to identify promising companies with outstanding projects, innovative technologies or both, is pleased to announce the following updates:
Mooncor Statement of Intent
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The Company announces that it has signed a letter of intent dated April 2, 2024 (the “LOI“) with an independent party (the “Buyer“) with respect to up to 30% of the issued and outstanding securities in the capital of Mooncor Energy Inc. and Primary Petroleum Company USA Inc. (together the “Subsidiaries“). The buyer is a private company engaged in the oil trade.
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Subject to the terms of the LOI, Buyer has the right to purchase up to 30% of the issued and outstanding securities in the capital of the Subsidiaries for an aggregate purchase price of $300,000 (the “Purchase price“). The purchase price is payable in installments, with the first payment of $12,000 being made upon execution of the LOI. The balance of the purchase price must be paid within 60 days from the date of the LOI. In addition to the purchase price, the company receives securities in the buyer’s capital, with the exact number of securities and the price per security being determined by the parties.
Change of auditors
The Company has its auditors from Wasserman Ramsay, Chartered Professional Accountants (“Former auditor“) to Zeifmans LLP (“Successor auditor“) effective March 14, 2024. The former auditor has submitted to the Company a formal resignation as the Company’s auditor effective June 8, 2023. The former auditor resigned on his own initiative. The Company’s Board of Directors appointed the successor auditor as the Company’s auditor effective March 14, 2024 until the Company’s next annual general meeting.
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There were no reservations in the former auditor’s audit reports for the financial period in which the former auditor was the auditor of the Company. There are no “Reportable Events” (as that term is defined in National Instrument 51-102 – Continuous Disclosure Obligations).IS 51-102“)) between the company and the former auditor.
In accordance with NI 51-102, the Notice of Change of Auditor, together with the required letters from the former auditor and successor auditor, have been reviewed by the Company’s Board of Directors and filed on SEDAR+ at www.sedarplus.ca.
Private placement
The Company will not proceed with its previously announced private placement of up to $1 million, as set forth in its press release dated January 24, 2024
About Blue Horizon
Blue Horizon is an investment company whose primary objective is to identify promising companies with outstanding projects, innovative technologies or both, leveraging management’s extensive experience in sourcing transactions and combining capital to maximize returns for its shareholders. Blue Horizon will invest its funds with the aim of achieving returns from capital appreciation and capital gains. It intends to achieve these objectives by identifying and investing in securities of private and publicly traded companies across a broad range of sectors and industry sectors, including but not limited to the technology, software development and biotechnology industries.
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Contact the company:
Philip Wong
Managing Director
Email: [email protected]
Neither the Canadian Securities Exchange nor its regulation services provider has verified or accepts responsibility for the adequacy or accuracy of this release.
Warning notice
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. These statements relate to future events or future performance. The use of the words “may,” “intends,” “expects,” “believes,” “will,” “projects,” “estimates” and similar expressions and statements in connection with matters that are not historical facts , is intended to identify forward-looking information and is based on Blue Horizon’s current beliefs or assumptions regarding the outcome and timing of such future events. Forward-looking information in this press release includes information relating to the proposed offering, including the amount of expected proceeds, timing of closing, receipt of required regulatory approvals and intended use of proceeds. Forward-looking information is based on reasonable assumptions made by Blue Horizon at the time such information is provided and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information . Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The forward-looking information contained in this press release is made as of the date of this press release and Blue Horizon undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws . The foregoing statements expressly qualify all forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include: the risk that the Company may be unable to obtain the proceeds necessary to complete the offering; the Company’s failure to effectively obtain approval of the Canadian Securities Exchange for the offering; the Company’s inability to satisfy all conditions to the completion of the Offering and the risk of unforeseen delays in completing the Offering, if any, whether due to market conditions or otherwise.
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