REOCITO CAPITAL INC. ANNOUNCES APPLICATIONS TO PARTIALLY REVOKE CEASE TRADE ORDERS
TORONTO, ONTARIO, CANADA, May 25, 2021 /EINPresswire.com/ -- REOCITO CAPITAL INC. ANNOUNCES APPLICATIONS TO PARTIALLY REVOKE CEASE TRADE ORDERS
Reocito Capital Inc. (“Reocito” or the “Company”) is pleased to announce it has applied to partially revoke the cease trade orders (the “CTOs”) issued against the Company by the British Columbia Securities Commission (the “BCSC”), the Autorite des Marches Financiers (the “AMF”) and the Alberta Securities Commission (the “ASC”) on May 11, 2009, May 22, 2009 and August 20, 2009, respectively. The CTOs were issued due to the Company’s failure to file certain financial disclosure documents in compliance with National Instrument - 51-102 Continuous Disclosure Obligations.
If the BCSC, AMF and the ASC partially revoke the CTOs, the Company intends to complete a non-brokered private placement for aggregate gross proceeds of up to $150,000 (the “Private Placement”), through the issuance of 50,000,000 common shares in the share capital of the Company (each, a “Common Share” and collectively, the “Common Shares”), at a price of $0.003 per Common Share. All Common Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Cautionary Statements
This press release may contain forward-looking statements including, but not limited to, comments regarding the timing and terms of the Private Placement, and statements regarding the BCSC, AMF and the ASC granting partial revocation orders to the Company. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
On behalf of the Board of Directors
Michael Lerner
Chief Executive Officer, Chief Financial Officer and Director
T: 416-710-4906
E: mlerner10@gmail.com
Reocito Capital Inc. (“Reocito” or the “Company”) is pleased to announce it has applied to partially revoke the cease trade orders (the “CTOs”) issued against the Company by the British Columbia Securities Commission (the “BCSC”), the Autorite des Marches Financiers (the “AMF”) and the Alberta Securities Commission (the “ASC”) on May 11, 2009, May 22, 2009 and August 20, 2009, respectively. The CTOs were issued due to the Company’s failure to file certain financial disclosure documents in compliance with National Instrument - 51-102 Continuous Disclosure Obligations.
If the BCSC, AMF and the ASC partially revoke the CTOs, the Company intends to complete a non-brokered private placement for aggregate gross proceeds of up to $150,000 (the “Private Placement”), through the issuance of 50,000,000 common shares in the share capital of the Company (each, a “Common Share” and collectively, the “Common Shares”), at a price of $0.003 per Common Share. All Common Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Cautionary Statements
This press release may contain forward-looking statements including, but not limited to, comments regarding the timing and terms of the Private Placement, and statements regarding the BCSC, AMF and the ASC granting partial revocation orders to the Company. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
On behalf of the Board of Directors
Michael Lerner
Chief Executive Officer, Chief Financial Officer and Director
T: 416-710-4906
E: mlerner10@gmail.com
Michael Lerner
Reocito Capital Inc.
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