Toronto, Ontario--(Newsfile Corp. - July 16, 2018) - Lakefield Marketing Corporation (the "Company") is pleased to announce that the Ontario Securities Commission ("OSC") has issued an order (the "Order") on July 16, 2018, revoking the cease trade order (the "CTO") which was issued by the OSC on July 17, 2006.
The Company does not have any definitive plans in place for the operation of the business at this time. However, the Company will proceed in a search for a business reverse take-over, merger, amalgamation or other form of combination.
The Company also wishes to announce that Ms. Inga Gratcheva joined the Board of Directors on April 13, 2018. Ms. Gratcheva is a Certified Public Accountant and will also serve as a member of the Audit Committee.
The Company is currently being funded by Robert Salna. Mr. Salna is not an office, director nor does he hold more than 10% of the outstanding shares in the Company. The purpose of these funds is for current expenses involving the administration and accounting for the Company. These advances are non-interest bearing, unsecured, with no fixed repayment terms. It is anticipated Mr. Salna will continue to advance funds until management completes a business acquisition. The Board of Directors considers these amounts and the fact that the loans are unsecured to be immaterial to the control of the Company.
The Company has filed a Material Change Report on SEDAR.
A meeting of the shareholders of the Company is scheduled to be held on July 31, 2018.
For more information, please contact
Lakefield Marketing Corporation