HFG Holdings Inc.

July 10, 2008 16:19 ET

HFG Holdings Inc.: Withdrawal of Proposed Acquisition of Central Mining America, Inc.

CALGARY, ALBERTA--(Marketwire - July 10, 2008) - HFG Holdings Inc. (TSX VENTURE:HFG.P) ("HFG" or the "Corporation") announced today that it has decided not to proceed with the proposed acquisition of Central Mining America, Inc. ("CMA") as press released by the Corporation on June 3, 2008. Trading of the common shares of HFG was halted in connection with the entering into of the original letter agreement among HFG and CMA although HFG expects that its common shares will resume trading shortly under the symbol "HFG.P".

HFG is a capital pool company governed by the policies of the TSX Venture Exchange. HFG's principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.

Forward-looking statements are subject to a wide range of risks and uncertainties, and although HFG believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with the ability to obtain financing, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from inability to obtain required regulatory approvals, the ability to implement corporate strategies, the state of domestic capital markets, currency fluctuations and other factors more fully described from time to time in the reports and filings made by HFG with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, as no assurances can be given as to future results, levels of activity or achievements. Except as required by applicable securities laws, HFG does not undertake any obligation to publicly update or revise any forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • HFG Holdings Inc.
    Timothy P. Halter
    Chief Executive Officer, Chief Financial Officer
    and a Director of the Corporation
    (972) 233-0300
    Email: thalter@halterfinancial.com