Mr. Tyler Rice reports

VETERAN CAPITAL CORP. TERMINATES LETTER OF INTENT FOR QUALIFYING TRANSACTION WITH POWERHIVE

Veteran Capital Corp. has terminated its letter of intent with Powerhive Inc. for its proposed qualifying transaction as a result of Powerhive's failure to complete its required financing and/or enter into a binding definitive agreement within the time frames set out in the letter of intent, despite repeated extensions.

Additional information

Veteran has applied for exchange approval to lift the halt on its shares. Once approved, the TSX Venture Exchange will issue a bulletin setting forth the timing of the resumption of trading.

Veteran intends to continue its search for a qualified transaction with an alternative party.

We seek Safe Harbor.