City View Green Holdings (CSE: CVGR) today announced
its entry into an LOI with a financier for the purchase leaseback of its
Brantford facility and property. Under the agreement, City View will exercise
its option to purchase 49 Easton Road in Brantford and transfer that purchase
option to the financier. In exchange, City View will enter into a 5-year lease
with a 5-year renewable term with the right of first refusal to purchase the
property and building back should the new owner decide to sell. The new
landlord will finance all buildout and capital improvements required by City
View to obtain Health Canada Licenses to become a fully operational Cannabis
grow and extraction facility. “We are pleased to enter into negotiations for
the purchase leaseback of our Brantford property,” City View Green CEO Ian
MacDonald stated in the news release. “This is a non-dilutive way for us to
finance and finalize the required buildout of the Brantford facility. We are
confident we have established the framework for a mutually beneficial outcome
with the financier. We hope to have this deal closed within the next 60 days
and our current buildout initiatives are proceeding as planned.”
To view the full press release, visit http://ibn.fm/QmTjA
About City View Green Holdings Inc.
City View Green, which began trading March 5, 2019, is a
vertically integrated cannabis company focused on seed to retail. Upon receipt
of its Cannabis Act license, City View Green will incorporate growing,
extraction, production and retail at its Brantford, Ontario, facility. The
company intends to grow exceptional quality cannabis and produce
high-quality extracts. Once legalized, City View Green expects to produce
high-quality edible products, distillates and water-soluble products for the
beverage market. In addition, City View Green owns a 19.9% stake in Budd Hutt
Inc., a retail-focused cannabis company with access to licenses in Alberta and
other retail opportunities across Canada. The company expects that Budd Hutt
will secure shelf space and distribution opportunities for City View Green’s
products. For more information, visit the company’s website at www.CityViewGreen.ca.
NOTE TO INVESTORS: The latest news and updates
relating to CVGR are available in the company’s newsroom at http://ibn.fm/CVGR
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