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Toronto, Ontario – (Newsfile Corp. – August 11, 2021) – City View Green Holdings Inc. (CSE: CVGR) (“City view“or the”Company“), trading through the Canadian Securities Exchange (“CST“) under the symbol” CVGR “and on the OTCQB® under the symbol “CVGRF”, announces that it has closed the first tranche (the “First installment“) of its private placement without intermediary (the”Offer“) previously announced on August 5, 2021. In connection with the first tranche, the Company issued 9,044,142 units for gross proceeds of $ 633,089.94. All securities issued in connection with this private placement are subject to a holding period expiring on December 12, 2021, in accordance with securities laws and CSE policies.
Certain directors and officers of the Company subscribed for a total of 2,357,143 units ($ 165,000). The subscription of Units to insiders in connection with the private placement is considered a “related party” transaction subject to Multilateral Instrument 61-101 (“MI 61-101The Company has relied on the exemptions from the formal assessment and minority shareholder approval requirements set out in sections 5.5 (a) and 5.7 (a) of NI 61-101 on the basis that participation in the offering private by insiders does not exceed 25% of the fair market value of the market capitalization of the Company.
City View also announces that it has now issued 750,000 non-transferable warrants to Quinsam Capital Corporation (“Quinsam“), the lender under a secured loan of $ 225,000. Each warrant may be exercised for one common share of the Company at a price of $ 0.15 / share for a period of 2 years. These securities are subject to a hold period expiring December 12, 2021, in accordance with applicable securities laws and CSE policies. The Company wishes to correct the disclosure in its August 5, 2021, that Quinsam, a public company listed on the CSE, is an insider of City View due to its holdings in the Company being> 10%. Therefore, this loan transaction is considered a “related” transaction subject to multilateral instrument 61-101 (“MI 61-101“). The Company has relied on the exemptions from the formal assessment and minority shareholder approval requirements set out in sections 5.5 (a) and 5.7 (a) of NI 61-101 on the basis that the value of this transaction does not exceed 25% of the fair market value of the Company’s market capitalization.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities law and may not be offered or sold in the United States. United States or to US Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from a such recording is available.
About City View Green Holdings Inc.
City View is a leading consumer packaged products company focused on the development of edibles infused with cannabis. With the receipt of its processing license under the Cannabis Act on April 30, 2021, City View will integrate the production of cannabis-infused foods at its high-capacity facility in Brantford, Ontario. In addition, City View owns a 27.5% interest in Budd Hutt Inc. (“Budd Hutt”), a cannabis retail company with access to cannabis cultivation and production licenses in Alberta and to various cannabis plants. other retail opportunities across Canada. Through its relationship with Budd Hutt, the company plans to secure storage space, product placement and distribution opportunities for our white label partner products. For more information visit: www.cityviewgreen.ca.
For more information contact:
City view Green Holdings Inc.
Rob Fia, CEO and Chairman
Email: [email protected]
Neither the Canadian Securities Exchange nor its regulatory departments accept responsibility for the adequacy or accuracy of this release.
Forward-looking information disclaimer
This press release contains forward-looking statements which are not made up of historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to be materially different from results, performance. or future achievements expressed or implied by these forward-looking statements. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including terms indicating that the Company or management expects a condition or reported result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “could”, “could”, “could”, “will” or “will”. Because forward-looking statements are based on assumptions and deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. When relying on the Company’s forward-looking statements and information in making decisions, investors and others should carefully consider the above factors as well as other uncertainties and potential events. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, the availability and costs of financing required in the future, changes in the stock markets, delays in the development of projects and the ability to predict or counter the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated or forecast. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACH ANY IMPORTANCE TO FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AT ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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