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VANCOUVER, BC, July 6, 2021 /CNW/ - H-SOURCE HOLDINGS LTD. (the "Company") (TSXV: HSI) (OTCQB: HSCHF)  On May 4, 2021, the Company announced that, for reasons set out in its news release of May 4, 2021, the filing of its annual audited financial statements for the year ended December 31, 2020, the accompanying management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") would not be filed by the prescribed deadline of April 30, 2021.  As a result of the delay in filing the Annual Filings, the Company's March 31, 2021 Q1 interim financial statements, the accompanying management discussion and analysis and related CEO and CFO certificates (the "Q1 Filings") were not filed by the prescribed deadline of May 31, 2021.

The British Columbia Securities Commission, as principal regulator, has notified the Company that a cease trade order will be issued on July 7, 2021 against the Company for failure to file the Annual Filings and Q1 Filings.  As previously announced, the Company requires additional time to file the Annual Filings due to unforeseen impacts arising from the COVID-19 pandemic which have continued to delay the audit of the Company's annual financial statements. We will release additional information later this week.

Reader Advisory

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the timing for preparation and filing of the Annual Filings, and the timing and duration of the cease trade order. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

SOURCE H-Source Holdings Ltd.

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