Toronto, Ontario--(Newsfile Corp. - December 19, 2014) - Primaria Capital (Canada) Ltd. (CSE: PCA) ("Primaria" or the "Company") a company listed on the Canadian Stock Exchange ("CSE") under the symbol PCA is pleased to announce that the Ontario, British Columbia and Alberta Security Commissions have granted a full revocation of the cease trade orders (the "CTOs") previously filed against the Company .
The CTOs were imposed for the Company's failure to file interim financial statements, interim management's discussion and analysis and certification of interim filings. The trading of the Company's shares was also suspended by the CSE on December 18, 2013 for failure to file monthly activity reports and pay associated filing fees. In conjunction with the revocation of the CTOs, the Company has made an application to resume trading of the suspended shares.
As a pre-condition of the CTO revocation, the Company has also filed on SEDAR all of the outstanding interim financial statements and management's discussion and analysis for the interim periods ended December 31, 2013, March 31, 2014 and June 30, 2014.
As the Company moves forward in achieving its corporate goals, effective immediately, the Company's Board of Directors and Officers will consist of the following appointees:
Sachin Rao Narayan, President and CEO, Director
Mr. Naryan currently finishing a combined diploma in accounting and finance at the Northern Alberta Institute of Technology, is an experienced and proven people manager, with a successful track record of delivering results having spent in excess of 10 years working in the treasury management branch at the City of Edmonton.
Joanne Gallevo, Corporate Secretary, Director
As a Clinical Nurse Manager/Clinical Nurse Specialist in charge of various paediatric facilities and their operating procedures, Ms Gallevo excels in working in a highly regulated environment along with her medical expertise offers a unique perspective to many businesses. Joanne also has clinical expertise in paediatric bone marrow transplant, and palliative care. She received a Bachelor of Arts with a major in Linguistics from York University, Bachelor of Science of Nursing from York University, and a Master of Science of Nursing from the University of British Columbia.
Constantine Papadopoulos, Interim CFO, Director
Mr. Papadopoulos is the President, CEO, and a Board Member of Circa Pictures and Prod. Co., Intl. Inc, he is well established in the television and film industries, first with Cinemax Pictures and now Circa Pictures as CEO where he is bridging the gap with Canadian and United States film markets.
Messrs. Henry Kloepper and Ivan Buzbuzian recently resigned as directors of the Company. Their assistance to Primaria has been deeply appreciated.
The new Management of Primaria intends to raise funds and find new target companies to invest in through either equity or debt instruments. The Company will also provide unique opportunities to clients that are interested in raising capital, and as part of our service offering the company will provide solutions, advice and guidance on how best to structure offering to both attract potential investors and avoid the pitfalls of improper corporate financing. To achieve this mandate we will recruit a dedicated team to work directly with clients to provide the highest quality solutions possible.
The Company intends to issue further news releases as warranted by the progress of its search in finding appropriate target investments and corporate finance clients. The Company will hold a meeting of the shareholders within 90 days of the CTO revocation order.
In conjunction, with the CTO revocation request, the Company intends to make an application to the CSE to reinstate its listing status.
About Primaria
The Company's listing on the CSE under the symbol PCA is currently halted from trading and has 48,838,667 shares outstanding.
For further information, please contact:
Constantine Papadopoulos
Director
Tel: 905-302-8883
cdap@me.com
Cautionary Note
This press release contains or may be deemed to contain "forward-looking information" within the meaning of applicable Canadian securities legislation, and is not for release in the United States of America. Forward-looking information includes, but is not limited to, statements (express or implied) relating to the impact of the appointment of these officers. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
