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CST: 22/09/2019 16:06:50   

Covalent Collective, Inc. Announces Dismissal of US SEC Enforcement Action

18 Days ago

COLORADO SPRINGS, Colo., Sept. 04, 2019 (GLOBE NEWSWIRE) -- Covalent Collective, Inc. (the “Company”), a burgeoning network of vertically integrated cannabis-centric enterprises, announces that the United States Securities and Exchange Commission (US SEC) has dismissed its subpoena enforcement action against the Company.

On October 24, 2018, the US SEC issued a subpoena against the Company requiring the production of a variety of documents in the Company’s possession, custody or control. On August 15, 2019, the SEC reported to the presiding Judge in the enforcement action that it had received all the subpoenaed documents, and Case No. 1:19−cv−03721 in the United States District Court for the Northern District of Illinois, Eastern Division, was dismissed.  To view the case file follow the following link: Case No. 1:19−cv−03721.  This will take you the the SEC’s recently filed cases.  You will need to register for a PACER account in order to view the official documents.

“When we submitted our document production on July 23, 2019, we were confident that we had provided everything necessary to comply with the SEC’s subpoena,” commented Mr. Bill Gregorak, CEO of Covalent Collective.  “It is gratifying to have received confirmation from the SEC and we are happy to be able to put this issue behind us and move forward with our corporate strategy of acquiring assets in our geographic priorities.”

About Covalent Collective:

Covalent Collective, Inc. is a British Columbia, Canada company founded in 2014 and headquartered in Colorado Springs, CO. The Company is building a diverse network of vertically integrated cannabis-centric enterprises that span the entirety of the legal cannabis and hemp industries. With a vision to build the largest grow capacity in the U.S., Covalent Collective’s mission is to create stronger bonds throughout the greater cannabis community through the execution of an acquisition and joint venture strategy that is strategically positioned to support eventual federal legalization in the United States. For more information, please visit https://covalentcannabis.com.  

Cautionary Note Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release may be identified by the use of words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, including statements with respect to the Company’s acquisition strategies. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance or achievements could differ materially from those expressed in, or implied by, any forward-looking statements in this press release, and readers should not place undue reliance on any such forward-looking statements since they are not guarantees of future results. The Company does not undertake and specifically declines any obligation to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

Investor Contact:
Richard Kaiser
Covalent Collective, Inc.
rkaiser@covalentcannabis.com
757-306-6090

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/530374c3-4dad-4ada-8055-34dd28fd0fe9

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