HTN Inc.

HTN Inc.

August 31, 2011 18:11 ET

HTN Inc. Completes Assets Sale

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2011) -


HTN Inc. ("HTN" or the "Company") (TSX VENTURE:HET) announces that it has completed the sale of all or substantially all of its assets, the majority of which were held in the wholly owned private subsidiary HTN (Ontario) Inc. ("HTN Ontario") to an arm's length Ontario based private corporation ("Privco") in exchange for cash (the "Transaction").

HTN received $1,600,000 in cash from Privco and has made an agreement (the "Loan Reduction Agreement") with Desperado Collections Inc. ("Desperado"), a company related by common management and directors to the Company to cancel an aggregate of $108,000 of the Company's outstanding indebtedness to Desperado in consideration for assignment to Desperado of up to $200,000 of potential deferred payment amounts under the Asset Purchase Agreement between HTN and Privco.

The Company will use the proceeds received from the sale of its assets to discharge any remaining liabilities of the Company, wind-up and dissolve HTN Ontario and distribute the Company's remaining cash to its shareholders. Management presently anticipates that it will maintain HTN as a public shell for a possible future transaction to attempt to maximize shareholder value. In the event that no suitable transaction for the public shell is found within a reasonable period of time, management anticipates that it would seek shareholder approval to wind-up and dissolve the Company.

Privco, a significantly larger organization than HTN (in terms of annual revenues and resources), offers its own provincially certified Electronic Medical Record ("EMR") product in addition to the assets acquired from HTN. Privco has entered into employment agreements with all of HTN's employees, contractors and management team, ensuring that the Company's current clients will receive continuity in service and additional product opportunities, including the opportunity to receive provincially available funding.

READER ADVISORY: FORWARD-LOOKING STATEMENTS Certain information set forth in this document, including management's assessment of HTN's future plans and operations, creation of a shell company and declaration of a special dividend, contain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. HTN's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that HTN will derive therefrom. HTN disclaims any intention or obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise. The Transaction may not close when planned or at all or on the terms and conditions set forth herein. The completion of the Transaction is subject to several risks including the failure of HTN to obtain the necessary shareholder, regulatory and other third party approvals or satisfy the other conditions to proceed with the Transaction.

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

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