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21 december 2020

Rockwell granted full revocation of failure-to-file cease trade order

12 january 2021
Image credit: (Pexels)

Troubled Rockwell Diamonds says the Ontario Securities Commission has granted it full revocation of the failure-to-file cease trade order (FFCTO) previously ordered against the company in 2018.
It said that such revocation is applicable and effective in the provinces of Ontario, Alberta, Québec, Nova Scotia, New Brunswick, Manitoba, Saskatchewan and British Columbia.  
The FFCTO was originally imposed as the company had not filed within the required timeframe its annual audited financial statements and management's discussion and analysis for the year ended February 28, 2018, nor the certifications of the foregoing filings.
Rockwell said it had as at December 15, 2020, filed all outstanding continuous disclosure documents that were required to be filed under applicable securities laws, and it is currently up-to-date in all of its required disclosure filings.
The company's investments and mineral property interests are located in South Africa and, although still owned by Rockwell, have been de-consolidated due to a loss of control and value stemming from being in liquidation since November 2016, and awaiting final liquidation proceedings expected in May 2021.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished