COLORADO SPRINGS, Colo. – 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.
“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.