Secova announces revocation of cease trade order and management cease trade order
VANCOUVER, BRITISH COLUMBIA – February 17, 2021 – Secova Metals Corp. (“Secova” or the “Company”) (TSXV: SEK, Frankfurt: N4UN, USA: SEKZF) is pleased to announce that on February 17, 2021, the British Columbia Securities Commission (the “BCSC”) issued a full revocation of the Company’s failure-to-file cease trade order (the “CTO”).
The BCSC imposed the CTO on the Company on December 30, 2019 for failure to file the Company’s audited annual financial statements, the management’s discussion and analysis (“MD&A”) and the related certification for the year ended June 30, 2019 (collectively, the “Annual Filings”), as well as the interim financial statements, MD&A and related certification for the period ended September 30, 2019 (the “Interim Filings”).
For the year ended June 30, 2019, the audit of the year’s transactions lead to restatements and/or reallocations that resulted in a related party loan to Mr. Kitchen of $439,946.
The Company has now filed the Annual Filings and the Interim Filings, and is in full compliance with the continuous disclosure requirements of the BCSC. Both the Annual Filings and the Interim Filings can be found on the Company’s SEDAR profile at www.sedar.com.
The revocation of the CTO constitutes a “material change” as defined by National Instrument 51-102 – Continuous Disclosure Obligations. As such, the Company has filed a material change report in connection with this news release.
The Company is coordinating with the TSX Venture Exchange (the “TSXV”) with respect to reinstatement of trading of the Company’s common shares on the TSXV. The Company expects to provide further updates on reinstatement of trading pursuant to a separate news release.
About Secova Metals Corp.
Secova Metals Corp. is a Canadian exploration company focused on building a strong asset base through exploration of undervalued projects in Canada. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. The Company’s main focus is its 100% ownership of the Eagle River project which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec. Secova will use its expertise in early stage exploration to create shareholder value by attempting to prove out the potential resource in these assets.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
“Brad Kitchen”
Chairman, CEO and Director
Tel: +1 604-506-7555
