City View Green Holdings (CSE: CVGR), formerly Icon Exploration Inc., today announced the completion of a transaction under which it obtained a $450,000 secured loan from an arm’s length lender. According to the update, the loan is secured by the company’s assets and is repayable in 12 months at a 20% interest rate. In connection, City View Green has issued to the lender 3,000,000 common share purchase warrants, each exercisable into one common share of the company at a price of $0.15 for a period of 13 months. In addition, the company also announced that its retail arm, Budd Hutt Inc., is currently pursuing strategic retail cannabis partnerships in Alberta and across the country. “The retail assets that we are exploring are key strategic pillars for Budd Hutt and our retail concept and business model,” Budd Hutt CEO Craig Belcher stated in the news release. “We are pleased with the opportunities we have identified with a number of great organizations that will undoubtedly add value along the way in our due diligence process including value-added advice through an extensive network of advisors and if required the potential for future capital investment. We applaud the AGLC’s lifting of the licensing moratorium and are laser focused on acquiring the right retail opportunities in the right locations that will showcase Budd Hutt’s outstanding design and concept and provide consumers with a best in class experience in and out of our retail locations. It’s an exciting time and an opportunity to create something truly unique.”
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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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