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Primaria Capital CTOs lifted by OSC, BCSC, ASC

2014-12-19 17:12 ET - News Release

Mr. Constantine Papadopoulos reports

PRIMARIA CAPITAL (CANADA) LTD. ANNOUNCES REVOCATION OF CEASE TRADE ORDERS AND NEW MANAGEMENT TEAM

The Ontario, British Columbia and Alberta security commissions have granted a full revocation of the cease trade orders previously filed against Primaria Capital Canada Ltd.

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 Canadian Securities Exchange on Dec. 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 precondition 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 Dec. 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 chief executive officer, director

Mr. Naryan is currently finishing a combined diploma in accounting and finance at the Northern Alberta Institute of Technology, and is an experienced and proven people manager with a successful 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 pediatric facilities and their operating procedures, Ms. Gallevo excels in working in a highly regulated environment; with her medical expertise, she offers a unique perspective to many businesses. She also has clinical expertise in pediatric bone marrow transplant and palliative care. She received a bachelor of arts with a major in linguistics from York University, a bachelor of science in nursing from York University and a master of science in nursing from the University of British Columbia.

Constantine Papadopoulos, interim chief financial officer, director

Mr. Papadopoulos is the president and CEO, and a board member of Circa Pictures & Production Co. International 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.

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 its service offering, the company will provide solutions, advice and guidance on how best to structure an offering to both attract potential investors and avoid the pitfalls of improper corporate financing. To achieve this mandate, the company 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 its 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.

We seek Safe Harbor.

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