City
View Green Holdings (CSE: CVGR) (OTCQB: CVGRF) today amended its
buildout and business strategy to respond to the evolving cannabis market.
According to the update, City View will put the cultivation buildout and
operations on hold until there is a strong business case to enter the
cultivation market, and will focus on extraction, edibles and distribution. The
company continues the buildout of its facility with a focus on designated areas
for extractions and edibles. “We have been witnessing a surplus in both
cannabis and hemp cultivation,” City View Green CEO Ian MacDonald said in the
news release. “City View is focused on targeting higher margin, sustainable
business opportunities that will provide long term growth and favorable returns
for our stakeholders. The reality is we can now acquire both cannabis and hemp
for our extraction purposes for less than the investment of bringing
cultivation in-house. Our focus will be on producing the finest quality
extracts and derivatives as well as being an innovative leader in the edibles
market and maximizing distribution opportunities through our proprietary
distribution network.”
To view the full press release, visit http://ibn.fm/kozdR
About City View Green Holdings Inc.
City View Green is a vertically integrated cannabis company
focused on extraction, edibles production and distribution. Upon receipt of its
Cannabis Act processing and sales licenses, City View will incorporate
extraction and edibles production at its Brantford, Ontario facility. The
company intends to produce the highest quality cannabis and hemp extracts and
derivatives. Once operational, the company expects to produce high quality
oils, edible products, distillates and water-soluble products for the food and
beverage markets. In addition, City View owns a 19.9% stake in Budd Hutt Inc.
Budd Hutt is 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’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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