|By Marketwired .||
|July 16, 2014 06:08 PM EDT||
CARLSBAD, CALIFORNIA -- (Marketwired) -- 07/16/14 -- Pacific Vector Holdings Inc. (TSX VENTURE:PVH) (the "Company") announced today that as a result of its financial losses, the defaults by certain lenders and its inability to obtain appropriate financing as previously announced, the Company's three subsidiaries: Ryderz Compound Inc., Reno Wilson Inc. (operating as Gatorz), and PVH DNA Inc. have filed voluntary petitions for Chapter 7 bankruptcy liquidation in the State of California.
All of the Company's operations will cease and the public company will be filing for voluntary bankruptcy proceedings under the Bankruptcy and Insolvency Act of Canada.
All of the directors and officers of the Corporation have resigned.
The Company's shares had previously been suspended on the TSX Venture Exchange as of July 10, 2014 as a result of the Cease Trade Order being issued by the Ontario Securities Commission due to failure to file certain continuous disclosure documents.
About Pacific Vector
Pacific Vector is a premier action sports retail and consumer brands company. www.pacificvector.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts esponsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Pacific Vector assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Pacific Vector.
Pacific Vector Holdings Inc.