TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Sumtra Diversified Inc. ("Sumtra" or the "Company") (NEX:SDV.H) today announced that it has terminated its binding letter of intent entered into on October 10, 2016 and amended on September 16, 2017 (the “LOI”) to complete a business combination with Hygea Holdings Corp. (“Hygea”). Neither the Company nor Hygea has any further obligations or commitments or liabilities for any break-up fees in accordance with the termination of the LOI.
About Sumtra Diversified Inc.
Sumtra does not currently have any undertaking or operating assets. Sumtra is seeking interests in viable projects in any sector which could create shareholder value. Any transaction Sumtra seeks to complete is subject to regulatory approval.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information, please contact:
Robert G. Shoniker
President
Sumtra Diversified Inc.
Tel: 416 863-6096
E-mail: bshoniker@couragecapital.com
Forward-Looking Information
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are the risks detailed herein and from time to time in the filings made by the Company with securities regulators, including the following: (i) has stopped active business operations; (ii) investment in the common shares of Sumtra is highly speculative; (iii) there is no assurance that Sumtra will find a profitable undertaking or that it can successfully conclude a purchase of such an undertaking at all or on terms which are commercially acceptable; (iv) the directors and officers of Sumtra will only devote a portion of their time to the business and affairs of Sumtra and some of them are or will be engaged in other projects or businesses such that conflicts of interest may arise from time to time; and (v) there can be no assurance that an active and liquid market for Sumtra’s common shares will develop and an investor may find it difficult to resell its common shares. This list is not exhaustive of the factors that may affect any of Sumtra’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Sumtra’s forward-looking statements. Although Sumtra believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Sumtra disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.