City View Green Holdings Inc. Announces Settlement with Infusion Works Inc.
City View Green Holdings Inc. Announces Settlement with Infusion Works Inc.
Toronto, Ontario--(Newsfile Corp. - March 10, 2022) - City View Green Holdings Inc.(CSE: CVGR) (OTCQB: CVGRF) ("City View" or the "Company"), trading through the facilities of the Canadian Securities Exchange ("CSE") under the symbol "CVGR" and on the OTCQB® under the symbol "CVGRF", announces that it has negotiated a settlement (the "Settlement") with Infusion Works Inc. ("Infusion") whereby the amended and restated asset purchase agreement between the parties dated April 20, 2020 (refer to the Company's news release dated April 30, 2020) is now terminated. The profit-sharing agreement between the parties (refer to the Company's news release dated April 30, 2020) is also now terminated. In conjunction with these terminations, Karl Wirtz has resigned as a director of the Company. The Company thanks Karl for his contributions to the Board during his term with the Company.
安大略省多伦多-(Newsfile Corp.-2022年3月10日)-City View Green Holdings Inc.(CSE:CVGR)(场外交易代码:CVGRF)(“城市景观“或”公司),通过加拿大证券交易所(加拿大证券交易所)的设施进行交易。CSE“)在”CVGR“符号下和OTCQB上®在代码为“CVGRF”的情况下,宣布它已通过谈判达成和解(“安置点“)与Infusion Works Inc.(”输液
Under the principal terms of the Settlement, the parties agreed:
根据和解的主要条款,双方同意:
- Infusion will continue to provide its baking, product formulation and related expertise to the Company and its subsidiaries;
- Infusion will provide contract manufacturing services for Pawsperity and Therasnax pet snacks for the Company's wholly-owned subsidiary, Pawsperity Pet Snacks Inc.;
- Infusion will no longer have the right to appoint a nominee to the Company's Board;
- The Company will not issue to Infusion the Tranche 3 consideration shares (being 23,231,057 common shares) previously required under the April 30, 2020 agreement;
- Of the consideration shares previously issued to Infusion under the April 30, 2020 agreement, 8,542,222 common shares are currently held in escrow and were previously to be released as to 1/8 every three months. Under the terms of the Settlement, these shares will be released quarterly over the next three years based on the value of services Infusion contributes to City View or Pawsperity Pet Snacks Inc. during that time;
- Infusion will transfer certain IP relating to Pawsperity and Therasnax;
- Any profits associated with Pawsperity, Therasnax and Pawsperity Pet Snacks Inc. will be for the sole benefit of the Company;
- Infusion will transfer the Panacea trademark and related IP to the Company.
- Fusion将继续为公司及其子公司提供烘焙、产品配方和相关专业知识;
- Fusion公司将为公司的全资子公司Pawsperity宠物零食公司提供Pawsperity和Therasnax宠物零食的合同制造服务;
- 输液公司将不再有权任命一名被提名人进入公司董事会;
- 根据2020年4月30日的协议,本公司将不向Insion发行之前要求的第3批对价股票(2331,057股普通股);
- 根据2020年4月30日的协议,在之前向Insion发行的对价股票中,8542,222股普通股目前以第三方托管形式持有,之前计划每三个月释放1/8。根据和解协议条款,这些股票将在未来三年内根据Infusion在此期间向City View或Pawperity宠物零食公司提供的服务价值每季度发行一次;
- 输液将转移某些与守护神和塞拉斯纳克斯有关的IP;
- 与Pawsperity、Therasnax和Pawsperity宠物零食公司相关的任何利润均为公司独有利益;
- 输液公司将把灵丹妙药商标和相关知识产权转让给该公司。
Rob Fia, CEO, City View, commented:
City View首席执行官罗布·菲亚(Rob FIA)评论道:
"City View and Infusion arrived at a mutually agreed settlement that was in the best interest of both parties to advance City View's business forward. City View will lean on Infusion's expertise in food manufacturing through a contract manufacturing agreement to produce delectable cannabis infused edibles and pet snacks. In addition, this settlement saves City View shareholders over 23,000,000 in share dilution that would have otherwise been issued if not for this settlement. We are pleased to update our shareholders about this development and expect to update our shareholders on other positive developments in the near term."
“City View和Infusion达成了一项双方都同意的和解协议,这符合双方的最佳利益,以推动City View的业务向前发展。City View将依靠InFusion在食品制造方面的专业知识,通过一项合同制造协议,生产美味的大麻浸泡食品和宠物零食。此外,这项和解为City View的股东节省了超过2300万股的股份稀释,如果没有这项和解,这些股份就会被稀释。我们很高兴向我们的股东通报这一进展,并预计在短期内向我们的股东通报其他积极的事态发展。”
For further information contact:
City View Green Holdings Inc.
Rob Fia, CEO & President
Email: rob@cityviewgreen.ca
Follow us on Twitter:
欲了解更多信息,请联系:
城市景观绿色控股公司。
罗布·菲亚(Rob FIA),首席执行官兼总裁
电子邮件:rob@cityviewgreen.ca
在Twitter上关注我们:
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
加拿大证券交易所及其法规服务机构均不对本新闻稿的充分性或准确性承担责任。
About City View
关于城市视图
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 licence on April 30, 2021, City View will incorporate cannabis-infused food production at its Brantford, Ontario high-capacity facility. In addition, City View owns a 27.5% stake in Budd Hutt Inc. ("Budd Hutt"), a retail-focused cannabis company with access to cannabis cultivation and production licences in Alberta and other retail opportunities across Canada. Through its relationship with Budd Hutt, the Company anticipates securing shelf space, product placement, and distribution opportunities for our white label partner products. For more information visit: .
City View是一家领先的消费品包装公司,专注于开发注入大麻的食品。在收到它的收据后大麻法案根据2021年4月30日颁发的加工许可证,City View将在其位于安大略省布兰特福德的高产能工厂生产注入大麻的食品。此外,City View还拥有Budd Hutt Inc.(“Budd Hutt”)27.5%的股份,这是一家专注于零售的大麻公司,可以获得艾伯塔省的大麻种植和生产许可证,以及加拿大各地的其他零售机会。通过与Budd Hutt的关系,该公司预计将确保我们的白标合作伙伴产品的货架空间、产品放置和分销机会。有关更多信息,请访问:。
Disclaimer for Forward-Looking Information
对前瞻性信息的免责声明
This press release contains forward-looking statements which are not composed of historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address 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 to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, availability and costs of financing needed in the future, changes in equity markets, delays in the development of projects, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Accordingly, readers should not place undue reliance on forward-looking statements.
本新闻稿包含不包含历史事实的前瞻性陈述。就其性质而言,前瞻性陈述涉及已知和未知的风险、不确定性和其他因素,这些风险、不确定性和其他因素可能导致我们的实际结果、表现或成就或其他未来事件与此类前瞻性陈述明示或暗示的任何未来结果、表现或成就大不相同。前瞻性陈述包括描述公司未来计划、目标或目标的估计和陈述,包括大意是公司或管理层预计会出现某种情况或结果的文字。前瞻性陈述可以用“相信”、“预期”、“预期”、“估计”、“可能”、“将”或“计划”等术语来识别。由于前瞻性陈述基于假设,涉及未来的事件和条件,因此它们本身就包含固有的风险和不确定因素。虽然这些陈述是基于公司目前掌握的信息,但公司不能保证实际结果符合管理层的期望。有许多重要因素可能导致该公司的实际结果与前瞻性陈述和信息所表明或暗示的结果大不相同。在依赖公司的前瞻性陈述和信息做出决策时,投资者和其他人应仔细考虑前述因素以及其他不确定因素和潜在事件。可能导致实际结果与公司预期大不相同的重要因素包括,除其他外,未来所需融资的可用性和成本、股票市场的变化、项目开发的延迟, 以及预测或抵消新冠肺炎冠状病毒对公司业务相关因素的潜在影响的能力。尽管该公司试图找出可能导致实际结果大不相同的重要因素,但可能还有其他因素导致结果与预期、估计或预期的不同。不能保证这些陈述将被证明是准确的,因为实际结果和未来事件可能与这些陈述中预期的大不相同。因此,读者不应过分依赖前瞻性陈述。
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 PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
本新闻稿中包含的前瞻性信息代表公司在本新闻稿发布之日的预期,因此在该日期之后可能会发生变化。读者不应过分重视前瞻性信息,也不应在任何其他日期依赖这些信息。虽然公司可以选择更新此信息,但IT不承诺在任何特定时间更新此信息,除非根据适用法律的要求。
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