With the help of a Canadian Securites Lawyer and some effort on my part, I was able to be approved to sell my shares in CVHIF through my TD Direct Trading Account on the US OTC market. FYI...I do not have a US address or account with a US brokerage. Here are the details:
First step is to get a PDF copy of the Cease Trade Order (CTO) for Ventura Cannabis & Wellness Corp off of the Canadian Securities Administrators website:
https://www.securities-administrators.ca/ If you review the CTO you will see the following:
Despite this order, a beneficial securityholder of the Issuer who is not, and was not at the date of this order, an insider or control person of the Issuer, may sell securities of
the Issuer acquired before the date of this order if both of the following apply:
1. the sale is made through a “foreign organized regulated market”, as defined in
section 1.1 of the Universal Market Integrity Rules of the Investment Industry
Regulatory Organization of Canada; and
2. the sale is made through an investment dealer registered in a jurisdiction of
Canada in accordance with applicable securities legislation.
You must then contact a trading representative at the Canadian brokerage were your CVHIF shares reside (in my case TD Direct Trading). Inform the rep that you want to sell your shares in CVHIF on the US OTC but a CTO exists. He will need to get approval from his compliance department before you can execute the trade. I was required to provide him with the following:
- Copy of the CTO
- Acknowledgment that I was not an insider with the company
- Copies of trade confirmations for all shares of CVHIF residing in my account(s)
- - this included original trade confirmations for V:CXV and V:BLVD
Once they had this information it was sent to the Compliance Department. I received approval within 24 hours to sell my CVHIF shares. A note was put on my trading account to this effect so that I could call in and speak to any trader to execute my trade for me. You will not be able to execute the trade yourself using your online account. I was required to sell my shares as a "market" order and not a "limit" order.
I hope this will help anybody who has a desire to liquidate their CVHIF shares. I do not know how this will affect VIBE shares/warrants that I am supposed to receive as a result of the VCAN transaction as nothing has yet appeared in my TD trading account in that regards.