City View Green Holdings Inc. obtains treatment license from Health Canada

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Toronto, Ontario – (Newsfile Corp. – April 30, 2021) – City View Green Holdings Inc. (CSE: CVGR) (OTCQB: CVGRF) (“City view“or the” Company “), trading through the facilities of the Canadian Securities Exchange (“CST“) under the symbol” CVGR “and on the OTCQB® under the symbol “CVGRF” is pleased to announce that the Company’s wholly owned subsidiary, 2590672 Ontario Inc. (“259ON“), a licensed producer under the Cannabis Act, received a processing license from Health Canada effective April 30, 2021 (the”Processing licenseThe processing license allows 259ON to produce cannabis edibles and related products and will also allow the Company to conduct development activities, including the formulation of proprietary cannabis infused edibles.

Rob Fia, CEO and President of City View, commented:

“We are delighted to take this important step for City View. Our team has worked hard over the past year to get to this point and our plan positions the company to be a leading manufacturer of edibles for white label customers and City View brand edibles. Our cannabis infused edibles will not only look and taste great, but they will also be differentiated through research and development and be cost competitive. City View will focus on automation and high quality standards by leveraging the know-how of our experienced team. City View will report shortly on the progress of this development. “

The Company also announces that it has now completed a second closing tranche of its broker-less private placement previously announced on April 9, 2021. In connection with this tranche, the Company issued 1,312,500 units for gross proceeds of 105,000 $. No commission or finder’s fees were paid in connection with this closing. All securities issued under this second tranche closing are subject to a hold period expiring September 1, 2021, in accordance with applicable securities laws and CSE policies.

The Company also announces that it has negotiated a debt settlement with an arm’s length creditor. Pursuant to the debt settlement agreement, the Company and the lender under a credit facility have agreed to settle an aggregate amount of $ 220,472 in consideration for 2,755,900 common shares issued at a deemed price of $ 0.08 / share. These debt settlement actions are subject to a hold period expiring September 1, 2021, in accordance with applicable securities laws and CSE policies.

About City View Green Holdings Inc.

City View is a leading consumer packaged product company focused on the development of edibles infused with cannabis. With the receipt of its processing license under the Cannabis Act on April 30, 2021, City View will integrate the production of cannabis-infused foods at its high-capacity facility in Brantford, Ontario. In addition, City View owns a 27.5% interest in Budd Hutt Inc. (“Budd Hutt”), a cannabis retail company with access to cannabis cultivation and production licenses in Alberta and to various cannabis plants. 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 or www.buddhutt.com.

For more information contact:

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

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

Forward-looking information disclaimer

This press release contains forward-looking statements which are not made up 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 be materially different from results, performance. or future achievements expressed or implied by these forward-looking statements. Forward-looking statements include estimates and statements that describe the future plans, objectives or goals of the Company, including words indicating that the Company or management expects a condition or reported result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “could”, “could”, “could”, “will” or “will”. Because forward-looking statements are based on assumptions and deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance 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 forward-looking statements and information. When relying on the Company’s forward-looking statements and information in making decisions, investors and others should carefully consider the above 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 financing required in the future, changes in the stock markets, delays in the development of projects and the ability to predict or counter the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business. Although the Company has attempted to identify significant factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated or anticipated. 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. Therefore, readers should not place undue reliance on forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACH ANY IMPORTANCE TO FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AT ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82518


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