RIO VERDE INDUSTRIES INC. ANNOUNCES REVOCATION OF CEASE TRADE ORDER
TORONTO, ONTARIO, CANADA, February 21, 2024 /EINPresswire.com/ -- Rio Verde Industries Inc. (“the "Company") is pleased to announce that the British Columbia Securities Commission has revoked a failure-to-file cease trade order in respect of the Company’s securities under National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions (the “CTO”).
The CTO was issued as a result of the Company’s failure to file its interim financial statements, management’s discussion and analysis and related certifications for the interim period ended January 31, 2023 before March 31, 2023 filing deadline. These documents were filed by the Company on SEDAR+ on July 31, 2023.
In connection with the Company’s application for the revocation of the cease trade order, the Company cancelled 26,118,478 common shares in relation to the private placement of 29,411,763 common shares issued at $0.0034 per share for gross proceeds of $100,000 on May 14, 2021. The company revised its issued and outstanding common shares from 32,705,049 to 6,586,571 with no consideration paid to the holders thereof on February 8, 2024, as further described in the Company’s press release dated February 9, 2024.
About Rio Verde Industries Inc.
The Company is a mineral exploration company with no current activities or operations. The Company has ceased to carry on an active business and is presently engaged in identifying and evaluating suitable assets or businesses to acquire or merge with, with a view to maximizing value for shareholders.
On behalf of the Board of Directors
Binyomin Posen
Chief Executive Officer, Chief Financial Officer & Director
T: 416 481 2222
E: bposen@plazacapital.ca
The CTO was issued as a result of the Company’s failure to file its interim financial statements, management’s discussion and analysis and related certifications for the interim period ended January 31, 2023 before March 31, 2023 filing deadline. These documents were filed by the Company on SEDAR+ on July 31, 2023.
In connection with the Company’s application for the revocation of the cease trade order, the Company cancelled 26,118,478 common shares in relation to the private placement of 29,411,763 common shares issued at $0.0034 per share for gross proceeds of $100,000 on May 14, 2021. The company revised its issued and outstanding common shares from 32,705,049 to 6,586,571 with no consideration paid to the holders thereof on February 8, 2024, as further described in the Company’s press release dated February 9, 2024.
About Rio Verde Industries Inc.
The Company is a mineral exploration company with no current activities or operations. The Company has ceased to carry on an active business and is presently engaged in identifying and evaluating suitable assets or businesses to acquire or merge with, with a view to maximizing value for shareholders.
On behalf of the Board of Directors
Binyomin Posen
Chief Executive Officer, Chief Financial Officer & Director
T: 416 481 2222
E: bposen@plazacapital.ca
Binyomin Posen
Rio Verde Industries Inc.
+1 416-481-2222
email us here
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