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COLORADO SPRINGS, Colo., July 26, 2019 (GLOBE NEWSWIRE) -- Covalent Collective, Inc. (the “Company”), a burgeoning network of vertically integrated cannabis-centric enterprises, announced today that it has submitted all of the documents in its possession, custody or control that relate to the subpoena issued against the Company by the United States Securities and Exchange Commission (SEC) on October 24, 2018.
“On July 23 we produced all of the documents we believe were necessary to comply with the SEC’s subpoena,” commented Mr. Bill Gregorak, CEO of Covalent Collective. “While we must hold ourselves accountable for missing the initial deadline, once we fully understood what was required by the SEC, we were able to fulfill our obligations and submit a detailed response ahead of the deadline. Although we won’t know if the SEC is satisfied with the content of our submission until a later date, we believe that the significant volume of correspondence and documentation we produced included everything called for by the subpoena,” Mr. Gregorak continued.
Separately, the Company announced today that its founder Geoffrey Thompson has resigned from his positions as a director and officer of the Company and its various subsidiaries and agreed to relinquish all associated corporate responsibilities effective immediately.
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.
Covalent Collective, Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8e76612f-9478-4476-b683-5c82a24e2bd9