City View Green Holdings Inc. Announces Amendment to Revolving Line of Credit and Extension of Warrant Terms

Toronto, Ontario–(Newsfile Corp. – September 30, 2022) – City View Green Holdings Inc. (CSE: CVGR) (“City view“or the”Company“), trading through the facilities of the Canadian Securities Exchange (“CSE“) under the symbol “CVGR” and on the OTCQB® under the symbol “CVGRF”, announces that it has amended the terms of a revolving line of credit with an arm’s length lender, initially entered into on July 7, 2020 (the “LOCUnder the terms of the amendment, the lender can advance up to $500,000 under the letter of credit by December 15, 2022, subject to certain conditions being met, with the majority of the funds due. be used to make payments under the Company’s facility at 49 Easton Road lease, and the balance to be used for general working capital Such future advances, together with the current unpaid principal balance of approximately $241,000, will bear interest at the rate of 7% per annum from the date of the amendment agreement until redemption or conversion The Lender shall be entitled, at any time up to maturity, to elect, at its sole discretion, to convert all or part of the outstanding amount into fully paid, non-taxable shares at a price of $0.05/share (each “Reimbursement shareCity View shall have the right to require the conversion of all or part of the outstanding amount into Redemption Shares provided that (a) its shares trade at a minimum price of $0.05 for 10 consecutive business days and , (b) since the date of the modification, he has not been in default or breach of the LOC, and (c) he has not breached or breached the terms of the rental agreement, as may be as amended from time to time. the Company enters into a good faith agreement with an arm’s length party to acquire all of the shares or assets of the Company, or to merge with the Company prior to the Maturity Date , then all unpaid principal and accrued interest thereon shall be converted into common shares fully paid and not subject to call by the Company at a price per share equal to the fair market value of each share on the date of completion of this transaction.

The Company also announces that it intends to extend the exercise period of 3,250,000 outstanding stock warrants. Each of the warrants is exercisable for one common share of the Company at a price of $0.10 per share. The exercise price will remain unchanged with the proposed extension. The warrants were originally issued on May 2, 2022 and currently expire on December 31, 2022. The new expiry date for these warrants will be March 31, 2023.

This press release does not constitute an offer to sell or a solicitation of an offer to buy 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 United States Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration be available.

For more information, contact:

City View Green Holdings Inc.
Rob Fia, CEO and President
Email: [email protected]

Neither the Canadian Securities Exchange nor its regulatory departments accept responsibility for the adequacy or accuracy of this release.

About the city view

City View is a leading consumer packaged goods company focused on the development of cannabis-infused edibles. With the reception of sound Cannabis law processing license on April 30, 2021, City View will integrate the production of cannabis-infused foods into its large-capacity facility in Brantford, Ontario. In addition, City View owns a 27.5% interest in Budd Hutt Inc. (“Budd Hutt”), a cannabis retail business with access to cannabis cultivation and production licenses in Alberta and 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.

Disclaimer for forward-looking information

This press release contains forward-looking statements that are not comprised 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 differ materially from the results, performance or future achievements expressed or implied by such forward-looking statements. Forward-looking statements include estimates and statements that describe the company’s future plans, objectives or goals, including words indicating that the company or management expects a stated condition or result to occur. Forward-looking statements can be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will” or “plans”. Because forward-looking statements are based on assumptions and address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company does not guarantee 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 the forward-looking statements and information. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing 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 necessary financing in the future, changes in stock markets, delays in the development of projects and the ability to predict or thwart the potential impact of coronavirus COVID-19 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 intended. 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. Accordingly, readers should not place undue reliance on forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE COMPANY’S EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACK UNBIDDEN IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED UNDER APPLICABLE LAW.

Not for distribution to United States news services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139166

Comments are closed.