City View Green Holdings (CSE: CVGR) on Wednesday
announced that it has negotiated debt settlements with arm’s length creditors.
In accordance with the debt settlement agreements, CVGR has settled a total
debt of $580,019 as of July 24, 2019. In consideration for this agreement, the
company will issue 2,693,460 common shares at a price of $0.15 each and 977,778
common shares at a price of $0.18 each. Upon being issued, the shares will be
subject to a four month hold period. CVGR also reported that it has agreed to
issue 1,000,000 common share purchase warrants to the landlord of the Brantford
property in conjunction with the pending execution of a new lease agreement.
Each warrant will be exercisable into one common share at a price of $0.18 each
for a period of five years. When issued, these securities will also be subject
to a four month hold period. In addition, CVGR announced that it has granted
300,000 stock options to a consultant that are each exercisable for a common
share at a price of $0.18 for a period of five years. These securities will
have a hold period expiring November 25, 2019 in accordance with the policies
of the CSE.
To view the full press release, visit http://ibn.fm/01V0B
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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