Toronto, Ontario-based City View Green Holdings (CSE: CVGR) is aiming to
close on its letter of intent (“LOI”) for a purchase leaseback transaction of
its Brantford, Ontario, facility and property. Terms of the deal call for the
new landlord to finance required build-out and capital improvements that are
required for CVGR to attain Health Canada licenses (http://ibn.fm/Iqhya). An article
further discussing the company reads, “The agreement notes that CVGR would
exercise its option to purchase the Brantford property then transfer that
option to a financier. CVGR would then enter a five-year lease with a five-year
renewable term. The company would have the right of first refusal to purchase
the facility and property if the new owner decides to sell. . . . ‘This is a
nondilutive way for us to finance and finalize the required build-out of the
Brantford facility,’ CVGR CEO Ian MacDonald said in a news release. ‘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 build-out initiatives are proceeding as planned.’”
To view the full article, visit http://ibn.fm/Isns8
About City View Green Holdings Inc.
City View Green has been structured to be 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. It is the company’s
intention that City View Green will 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 Inc. will secure shelf space and distribution opportunities for City
View Green’s products. City View’s future is green. Follow the green. 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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