Crosswinds Announces Update on Letter of Intent

TORONTO, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Crosswinds Holdings Inc. ("Crosswinds" or the "Company") announces that the binding letter of intent previously announced on November 13, 2018, is unlikely to be completed and the Company now expects to make a distribution to shareholders in December 2019.

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J. Roy Pottle
Tel: 1-508-344-2640
[email protected]
www.crosswindsinc.com

Caution Regarding Forward-Looking Information

This release includes certain forward-looking statements within the meaning of applicable securities laws, including statements regarding anticipated distributions to the Company's shareholders. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Reference should be made to the risk factors in the Company's most recent Annual Information Form, in the Management's Discussion and Analysis for the year ended December 31, 2018 and in our other filings with Canadian securities regulators. Additional important factors that could cause actual results to differ materially from expectations include, among other things, settlement of the terms of definitive documentation, general economic and market factors, tax related matters, the ability of the Company to execute its strategies from time to time, the ability to make distributions to shareholders, and the receipt of any regulatory approvals or consents required from time to time.