Kuala Lumpur, Malaysia, Nov. 19, 2019 (GLOBE NEWSWIRE) — Natural Health Farm Holdings Inc. (“NHEL”) announced on November 14, 2019 the filing of a Form 15 with the Securities and Exchange Commission (the “SEC”), under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to voluntarily suspend its reporting obligations under Section 15(d) and 12g of the Exchange Act.
The Board of Directors has approved this action primarily as a cost reduction measure. Suspending and ultimately terminating the Company’s SEC reporting obligations will allow it to reduce the substantial legal, accounting, and other expenses associated with reporting compliance and make those savings available for continued operation of the business.
Vernon Tee, Chief Executive Officer commented on the announcement with the following statement, “Our decision to deregister was made after careful consideration of the advantages and disadvantages of being a public company. In making this decision, we believe it will be resulted in a benefit to the Company’s stockholders by reducing expenses and permitting management to focus its energies on operating the company and its operating subsidiaries.”
Upon the filing of the Form 15, NHEL’s obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, was immediately suspended. The Company’s duty to file all other reports under Section 12g with the SEC will be terminated 90 days after the filing of the Form 15. The Company will continue to do everything possible to have its common stock resume trading on the OTC Markets. However, the Company cannot guarantee that trading in its common stock will resume on OTC Markets or any other forum. NHEL is eligible to suspend its reporting obligations because it has fewer than 300 record holders of its common shares.
About Natural Health Farm Holdings Inc.
Natural Health Farm Holdings, Inc. (OTCQB: NHEL) is a Nevada-based fully integrated nutraceutical biotechnology company, offering products and related services through healthcare practitioners and direct-to-consumers. NHEL began a global expansion strategy in 2018, announcing the acquisition of several established revenue generating companies focused on nutraceutical product research and development, manufacturing, quality control, marketing and distribution. The company now owns a research & development laboratory in Malaysia, franchisee management services company and an Australia manufacturing facility producing practitioner only naturopathic and homeopathic medicines.
For further information, please visit www.nhf-holdings.com
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.