Summit Networks Inc. Announces Revocation of Cease Trade Order

Rhea-AI Summary

Summit Networks (OTCQB: SNTW) announced that the British Columbia Securities Commission has revoked a cease trade order that had been issued January 31, 2025, for failure to file required annual continuous disclosure documents. The revocation is effective February 2, 2026. The company completed limited-scope R&D during the period and says it is strengthening internal compliance and governance.

Positive

• Cease trade order fully revoked effective February 2, 2026
• Completed previously approved, limited-scope research and development during the suspension
• Management commits to strengthened compliance and governance processes

Negative

• Failure to file required annual continuous disclosure documents triggered a regulatory cease trade order
• Regulatory lapse indicates prior weaknesses in disclosure controls or administrative processes

VANCOUVER, British Columbia, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Summit Networks Inc. (OTCQB: SNTW) (the “Company”) announces that the British Columbia Securities Commission (“BCSC”) has issued an order revoking the cease trade order, originally issued in respect of the securities of Company on January 31, 2025.

The cease trade order was issued in connection with the Company’s failure to file certain required annual continuous disclosure documents within the prescribed timeframe. During the relevant period, the Company also completed its previously approved, limited-scope research and development initiatives. Currently, the Company is focused on internal compliance review and governance adjustments to further strengthen its regulatory and administrative framework.

The Company confirms that the cease trade order has been fully revoked and that the revocation is effective as of February 2, 2026.

This news release is issued solely for the purpose of complying with applicable Canadian securities disclosure requirements.

On behalf of the Board

Charlene Huang, CEO

For additional information on Summit Networks, Inc.:

Summit Networks, Inc
3010-8888 Odlin Crescent, Richmond 
British Columbia V6X 3Z8 Canada
Attention: Charlene Huang
Chief Executive Officer Email: sntwus@gmail.com

Forward-Looking Statements:  

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Corporate Contact:

Summit Networks, Inc
sntwus@gmail.com
+ 1-604-232-3968

FAQ

What did Summit Networks (SNTW) announce about the cease trade order on February 5, 2026?

The company confirmed the BCSC revoked the cease trade order effective February 2, 2026. According to the company, the order had been issued January 31, 2025 due to missed annual continuous disclosure filings and has now been fully revoked.

Why was the cease trade order issued against Summit Networks (SNTW) originally?

The order was issued because the company failed to file certain required annual continuous disclosure documents within the prescribed timeframe. According to the company, the regulatory action related specifically to missed filings rather than trading conduct or insolvency.

Does the revocation of the cease trade order mean Summit Networks (SNTW) resumed normal trading?

Yes, revocation of a BCSC cease trade order typically allows normal trading to resume once regulatory conditions are met. According to the company, the revocation became effective February 2, 2026 after required matters were addressed.

What steps is Summit Networks (SNTW) taking after the revocation to prevent future issues?

The company is focused on internal compliance review and governance adjustments to strengthen its regulatory and administrative framework. According to the company, these actions aim to prevent recurrence of missed disclosure filings.

Did Summit Networks (SNTW) carry out business activity during the period of the cease trade order?

Yes, the company completed previously approved, limited-scope research and development initiatives during the relevant period. According to the company, R&D work continued despite the prior cease trade order related to disclosure filings.