City View Green Holdings (CSE: CVGR) (OTCQB: CVGRF) today announced the appointment of Eric Myung as the company’s chief financial officer (“CFO”). Myung succeeds Joseph Heng, who served as City Views’ CFO since November 2014. CVGR also reported that, as of September 18, 2019, the company’s shares began trading under the new ticker symbol, ‘CVGRF’ on the OTCQB. In addition, the company announced its intent to raise up to $2,000,000 through a non-brokered private placement of up to 13,333,334 units at a price of $0.15 per unit. Each unit will be comprised of one common share and one common share purchase warrant. The warrants will be exercisable into one common share for three years from the date of issuance at an exercise price of $0.30 per share. CVGR also reported that it has issued 6,700,000 common share purchase warrants to a consultant in consideration for consulting advisory services. There warrants are exercisable into one common share at a price of $0.15 for six months. The company also negotiated a debt settlement with an arm’s length creditor through the issuance 500,000 common shares at a price of $0.15 per share, settling a total of $75,000 of debt. Additionally, CVGR reportedly granted incentive stock options to certain directors, officers and consultants of the company to purchase up to 4,400,000 common shares pursuant to the company’s share option plan. Half of the options will vest after six months and the remaining half will vest after 12 months. The options are exercisable for five years at $0.15 per share.
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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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