Sealand Natural Resources, Inc. (OTCMKTS:SLNR) Files An 8-K Other EventsItem 8.01 Order of Suspension of Trading; Order Scheduling Hearing and Designating Presiding Judge: Order Instituting Administrative Proceedings and Notice of Hearing to Section 12(j) of the Securities and Exchange Act of 1934.
On August 5, 2017 the Company received the above orders from the United States Securities and Exchange Commission division of Enforcement. In summary, the Orders combine to immediately suspend trading in the Company’s common stock, schedule a hearing for August 23, 2017 at which the Company must demonstrate, why, in light of the delinquency of its SEC filings the registration of its common stock should not be revoked by the SEC. If such registration is revoked the Company will be required to file a new registration statement with the SEC and a new 152-11 application to FINRA. The registration statement will have to become effective and the 15c2-11 application will have to be approved before trading in shares of the Company’s common stock may resume. Management intends to take all steps necessary to reinstitute trading in the Company’s common shares, however, there can be no assurances that either of the aforementioned events will occur or that trading in shares of the Company’s common stock will ever resume.
Item 9.01 Financial Statements and Exhibits
|Exhibit 1. Order of Suspension of Trading|
|Exhibit 2. Order Scheduling Hearing and Designating Presiding Judge|
|Exhibit 3. Order Instituting Administrative Proceeding and Hearing to Section 12(j) of the Exchange Act.|
Sealand Natural Resources Inc Exhibit…To view the full exhibit click
About Sealand Natural Resources, Inc. (OTCMKTS:SLNR)
Sealand Natural Resources, Inc. is a research and new product development company. The Company is engaged in the manufacture, distribution, sales and marketing of various natural functional beverages, nutriceuticals and health supplements, and the harvesting of organic raw materials. The Company integrates scientific, environmental and medical competencies in various areas, such as exploration/discovery, characterization of health benefits, and the ability to scale up new and natural consumer products for commercial use. The Company primarily focuses on the alternative beverage category, which combines non-carbonated ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still water (flavored, unflavored and enhanced) with new age beverages, including sodas that are considered natural, sparkling juices and flavored sparkling beverages.