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City View Green Announces First Tranche Closing and Extension of its Non-Brokered Private Placement

Cannabis Prospect Magazine, Media Partners

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Published: June 24, 2024

City View Green Holdings Inc., an innovative Canadian-based cannabis-infused edibles manufacturing company, announces that further to its May 6, 2024, news release, it has now completed a first tranche (the “First Tranche“) of its non-brokered private placement (the “Offering“). Under the First Tranche, the Company has issued 9,500,000 Units for gross proceeds of $95,000. No finder’s fees were paid in connection with the First Tranche. All securities issued under the First Tranche are subject to a hold period expiring October 21, 2024, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the “CSE”).

The First Tranche comprises the initial portion of the Offering, which is hereby extended, under which City View is selling up to $1,000,000 units of the Company at a price of $0.01/unit. Each unit consists of one common share (each a “Share“) in the capital of the Company and one-half common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder thereof to acquire one common share of the Company (each a “Warrant Share“) at a price of $0.05 per Warrant Share for a period of 3 years following the date of issuance; except that, from and after the date that is one year after the closing date, if the average closing price of the Company’s common shares on the CSE is equal to or exceeds $0.055 during any 10 trading day period, then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 30 days following the date on which the Company issues notice to all the Warrant holders of the new expiry date (and the Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the Warrants). Refer to the Company’s May 6, 2024 news release for further details on the Offering.

Rob Fia, the Company’s President, CEO and director (the “Insider“) participated in the First Tranche and purchased 1,500,000 Units for $15,000. Participation by the Insider in this financing is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insider’s participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the Offering by the Insider did not exceed 25% of the fair market value of the Company’s market capitalization The Company did not file a material change report at least 21 days prior to the closing of the First Tranche as participation of the Insider had not been confirmed at that time.

In addition, City View announces that it has engaged marketing firm Rocket Invest AI Corp (“Rocket Invest AI“), an arm’s length third party, to provide various marketing services through multiple social media platforms as well as facilitating communication with the financial community. The initial term of the agreement is for 3 months effective June 20 2024, for which Rocket Invest AI will be paid $30,000 CAD.

About City View Green Holdings Inc.
City View is a leading consumer packaged goods company focused on the development of cannabis infused edibles with the receipt of its Cannabis Act processing license on April 30, 2021. For more information visit: www.cityviewgreen.ca.

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