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.
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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.
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