City View Green Holdings (CSE: CVGR) today announced its entry into a Letter of Intent (“LOI”) with Blue Heaven Coffee Company (“BHC”) to purchase 100% of the company for a combination of cash and shares. According to the update, a number of Blue Heaven Cafés under contract with a respected prominent Canadian institution and national coast to coast partner will be included in the purchase, and further details will be provided upon signing of a definitive agreement. “This is a strategic acquisition that will not only offer Canadians the finest coffee in the world, it will also give us a direct route to market for future edibles and consumables and provides CVG a high traffic national footprint with a viable and sustainable business model and revenue stream,” City View Green CEO Ian MacDonald said in the news release.
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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 percent stake in Budd Hutt Inc. Budd Hutt Inc. is 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. For more information, visit the company’s website at www.CityViewGreen.ca.
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