World News: 00:43 GMT Wednesday 15th May 2019. [NATURAL HEALTH FARM HOLDINGS INC via Globe Newswire via SPi World News]
Vegas, Nevada, May 14, 2019 (GLOBE NEWSWIRE) -- Natural Health Farm Holdings, Inc (OTCQB: NHEL) (the “Company” or “NHF Holdings”), a nutraceutical biotechnology company, reports that the previously announced term sheet to acquire a majority equity interest in Biodelta (Pty) Ltd (“Biodelta”) (see press releases dated March 6 and March 20, 2019) has been terminated.
Vernon Tee, President of NHF Holdings, commented, “Despite our extensive efforts and due diligence, we will not be able to complete a definitive agreement for the acquisition of BioDelta on terms mutually agreeable to all parties. While we are extremely disappointed with this outcome, NHF Holdings continues to pursue other value-enhancing opportunities for the Company and its shareholders.”
In connection with the now terminated acquisition, the Company paid a refundable deposit of US$160,000 to Biodelta. NHF Holdings anticipates issuing a demand letter for the immediate return of this deposit.
Natural Health Farm Holdings, Inc. (OTCQB: NHEL) is a Nevada-based fully integrated nutraceutical biotechnology company offering clinically researched naturopathic products and related services through healthcare practitioners and direct-to-consumers. Since 2017, the Company has developed and commercialized a proprietary web-based Naturopathic Learning Management System that enables consumers and distributors to be educated on health-related aspects of various diseases.
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Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
Globe Newswire: 00:43 GMT Wednesday 15th May 2019
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