City View Green Holdings Inc. (CSE: CVGR) Signs LOI, Seeks to Establish Facility as Key Cannabis Grow-and-Extraction Property

May 15, 2019 12:32:19
  • CVGR anticipates closing the transaction within 60 days
  • Terms of the deal call for the new landlord to finance required buildout and capital improvements
  • CVGR has a seed-to-retail model designed to grow and produce high-quality cannabis extracts and edible products

City View Green Holdings Inc. (CSE: CVGR) hopes to close on its letter of intent (LOI) for a purchase leaseback transaction of its Brantford, Ontario, facility and property within 60 days. Terms of the LOI call for the new landlord to finance the buildout and capital improvements required for CVGR to obtain Health Canada licenses. After the licenses are obtained, CVGR anticipates creating an operational cannabis grow-and-extraction facility (http://nnw.fm/3Tefr).

The agreement notes that CVGR would exercise its option to purchase the Brantford property then transfer that option to a financier. CVGR would then enter a five-year lease with a…

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NOTE TO INVESTORS: The latest news and updates relating to CVGR are available in the company’s newsroom at http://nnw.fm/CVGR

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