10330698 Canada Inc. Issues Demand Notice to CordovaCann Corp. for Outstanding Debt

10330698 Canada Inc. announced today that it has issued a formal demand notice to CordovaCann Corp. (CSE: CDVA / OTC: LVRLF) regarding the outstanding debts related to 3 promissory notes. The demand notice was served on Thomas (Taz) M. Turner JR, Cordova CEO and Ashish Kapoor, Cordova CFO on October 30, 2024 and outlined that payment was due on or before November 8 2024. 
The 3 notes were defaulted on April 10, 2023. On April 10 2023, both Mr Turner and Mr Kapoor were directly informed of the debt defaults and the associated reporting requirements under both Canadian Securities Administrators National Instrument 51-102 and American SEC regulations requiring timely disclosure of material events. Failure to comply with these regulations can lead to penalties, enforcement actions and potential legal claims by shareholders.

As of November 14, 2024, CordovaCann Corp. has not responded to the demand, nor has the outstanding balance been paid. Due to this lack of response, and as repeated attempts to resolve this matter amicably since April 2023 have failed, 10330698 Canada is now pursuing a civil claim and the company has secured litigation council in Ontario to ensure it's rights are protected.

10330698 Canada Inc remains committed to ensuring that all outstanding obligations are resolved in a fair and timely manner.

10330698 Canada Inc.
10257 Sherman Drive, Lake Country BC, V4V 2N2
For further inquiries, please contact:
David Martyn
President 10330698 Canada
250-307-5805
davemartyn197@gmail.com

About 10330698 Canada Inc
10330698 Canada is the holder of 3 promissory notes with CordovaCann. These notes were entered into during April and June 2020. These debt notes are in material default. Stakeholders seeking additional information or clarification are encouraged to contact David Martyn, President of 10330698 Canada directly at the details provided below. 

For further inquiries, please contact:
David Martyn
President 10330698 Canada
250-307-5805
davemartyn197@gmail.com

This release was published on openPR.