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HET.H

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:HET.H TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

HTN Inc. Enters into Agreement to Acquire APT Software & Double Door Communications

07/02/2014 1:00pm

Marketwired Canada


HTN Inc. (TSX VENTURE:HET.H) ("HTN" or the "Company") is pleased to announce
that the Company has agreed to acquire two privately held companies (the
"Target"): APT Software Canada Inc. ("APT") and Double Door Communications Inc.
("Double Door"), both of which are collectively owned as to 100% by Manish Dixit
and Malay Dixit (the "Shareholders"). 


The purchase of the Target (the "Transaction") will form the basis for HTN's
reactivation from the NEX Board of the TSX Venture Exchange (the "Exchange") to
Tier 2 on the Exchange, subject to HTN meeting all of the Tier 2 Initial Listing
Requirements for Technology Issuers following completion of the Transaction.
Completion of the Transaction is subject to a number of conditions, including,
without limitation, execution of definitive agreements and other transaction
documents, completion of due diligence, and receipt of all regulatory approvals,
including approval of the Exchange. 


Transaction Terms:

HTN and the Target have executed a letter of intent which outlines the proposed
terms by which the Company will acquire the Target. As consideration for the
Target, the Company has agreed to issue 10,000,000 common shares of HTN to the
Shareholders on closing of the Transaction. In addition, 5,000,000 common shares
of the Company (the "Performance Shares") will be issued and deposited into a
performance escrow account, with the release terms of the performance escrow to
be settled under the definitive agreement.


Description of the Target:

APT was incorporated under the Canada Business Corporations Act in June 2010 and
since the date of incorporation carries on the IT business of owning, operating
and marketing software development services and developing and owning
proprietary software. Double Door was incorporated under the Canada Business
Corporations Act in November 2008 and since the date of incorporation carries on
the business of providing outsourced digital media services and staffing.


HTN will be focused on the delivery of mobile applications and technology as
well as enterprise onshore/offshore software development.


A comprehensive press release will be issued by the Company once the other
details of the Transaction have been confirmed and a definitive agreement has
been executed.


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


Completion of the Transaction is subject to a number of conditions including
Exchange acceptance. There can be no assurance that the Transaction will be
completed as proposed or at all. Investors are cautioned that any information
released or received with respect to the Transaction may not be accurate or
complete and should not be relied upon. Trading in the securities of HTN Inc.
should be considered highly speculative. 


The TSX Venture Exchange has in no way passed upon the merits of the proposed
Transaction and has neither approved nor disapproved the contents of this press
release.


Forward Looking Statements

Certain statements herein may contain forward-looking statements and
forward-looking information within the meaning of applicable securities laws.
Forward-looking statements or information appear in a number of places and can
be identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate" or "believes" or variations of
such words and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements and information include statements regarding the
Transaction, expected revenues of the Target and mobile strategy of the Target.
Such forward-looking statements and information are subject to risks,
uncertainties and other factors which may cause the Company's actual results,
performance or achievements, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statement or information. There can be no assurance that a
forward-looking statement or information referenced herein will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements or information. Also, many of the factors are
beyond the control of the Company. We undertake no obligation to reissue or
update any forward-looking statements or information except as required by law.
All forward-looking statements and information herein are qualified by this
cautionary statement. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
HTN Inc.
Michael Kraft
President & CEO
416.927.7003
416.927.1222 (FAX)
mkraft@buckinghamgrp.com

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