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.
安大略省多倫多-(Newsfile Corp.-2022年3月10日)-City View Green Holdings Inc.(CSE:CVGR)(場外交易代碼:CVGRF)(“城市景觀“或”公司),通過加拿大證券交易所(加拿大證券交易所)的設施進行交易。CSE“)在”CVGR“符號下和OTCQB上®在代碼為“CVGRF”的情況下,宣佈它已通過談判達成和解(“安置點“)與Infusion Works Inc.(”輸液
Under the principal terms of the Settlement, the parties agreed:
根據和解的主要條款,雙方同意:
- 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將繼續為公司及其子公司提供烘焙、產品配方和相關專業知識;
- Fusion公司將為公司的全資子公司Pawsperity寵物零食公司提供Pawsperity和Therasnax寵物零食的合同製造服務;
- 輸液公司將不再有權任命一名被提名人進入公司董事會;
- 根據2020年4月30日的協議,本公司將不向Insion發行之前要求的第3批對價股票(2331,057股普通股);
- 根據2020年4月30日的協議,在之前向Insion發行的對價股票中,8542,222股普通股目前以第三方託管形式持有,之前計劃每三個月釋放1/8。根據和解協議條款,這些股票將在未來三年內根據Infusion在此期間向City View或Pawperity寵物零食公司提供的服務價值每季度發行一次;
- 輸液將轉移某些與守護神和塞拉斯納克斯有關的IP;
- 與Pawsperity、Therasnax和Pawsperity寵物零食公司相關的任何利潤均為公司獨有利益;
- 輸液公司將把靈丹妙藥商標和相關知識產權轉讓給該公司。
Rob Fia, CEO, City View, commented:
City View首席執行官羅布·菲亞(Rob FIA)評論道:
"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達成了一項雙方都同意的和解協議,這符合雙方的最佳利益,以推動City View的業務向前發展。City View將依靠InFusion在食品製造方面的專業知識,通過一項合同製造協議,生產美味的大麻浸泡食品和寵物零食。此外,這項和解為City View的股東節省了超過2300萬股的股份稀釋,如果沒有這項和解,這些股份就會被稀釋。我們很高興向我們的股東通報這一進展,並預計在短期內向我們的股東通報其他積極的事態發展。”
For further information contact:
City View Green Holdings Inc.
Rob Fia, CEO & President
Email: rob@cityviewgreen.ca
Follow us on Twitter:
欲瞭解更多信息,請聯繫:
城市景觀綠色控股公司。
羅布·菲亞(Rob FIA),首席執行官兼總裁
電子郵件:rob@cityviewgreen.ca
在Twitter上關注我們:
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
加拿大證券交易所及其法規服務機構均不對本新聞稿的充分性或準確性承擔責任。
About City View
關於城市視圖
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是一家領先的消費品包裝公司,專注於開發注入大麻的食品。在收到它的收據後大麻法案根據2021年4月30日頒發的加工許可證,City View將在其位於安大略省布蘭特福德的高產能工廠生產注入大麻的食品。此外,City View還擁有Budd Hutt Inc.(“Budd Hutt”)27.5%的股份,這是一家專注於零售的大麻公司,可以獲得艾伯塔省的大麻種植和生產許可證,以及加拿大各地的其他零售機會。通過與Budd Hutt的關係,該公司預計將確保我們的白標合作伙伴產品的貨架空間、產品放置和分銷機會。有關更多信息,請訪問:。
Disclaimer for Forward-Looking Information
對前瞻性信息的免責聲明
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.
本新聞稿包含不包含歷史事實的前瞻性陳述。就其性質而言,前瞻性陳述涉及已知和未知的風險、不確定性和其他因素,這些風險、不確定性和其他因素可能導致我們的實際結果、表現或成就或其他未來事件與此類前瞻性陳述明示或暗示的任何未來結果、表現或成就大不相同。前瞻性陳述包括描述公司未來計劃、目標或目標的估計和陳述,包括大意是公司或管理層預計會出現某種情況或結果的文字。前瞻性陳述可以用“相信”、“預期”、“預期”、“估計”、“可能”、“將”或“計劃”等術語來識別。由於前瞻性陳述基於假設,涉及未來的事件和條件,因此它們本身就包含固有的風險和不確定因素。雖然這些陳述是基於公司目前掌握的信息,但公司不能保證實際結果符合管理層的期望。有許多重要因素可能導致該公司的實際結果與前瞻性陳述和信息所表明或暗示的結果大不相同。在依賴公司的前瞻性陳述和信息做出決策時,投資者和其他人應仔細考慮前述因素以及其他不確定因素和潛在事件。可能導致實際結果與公司預期大不相同的重要因素包括,除其他外,未來所需融資的可用性和成本、股票市場的變化、項目開發的延遲, 以及預測或抵消新冠肺炎冠狀病毒對公司業務相關因素的潛在影響的能力。儘管該公司試圖找出可能導致實際結果大不相同的重要因素,但可能還有其他因素導致結果與預期、估計或預期的不同。不能保證這些陳述將被證明是準確的,因為實際結果和未來事件可能與這些陳述中預期的大不相同。因此,讀者不應過分依賴前瞻性陳述。
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.
本新聞稿中包含的前瞻性信息代表公司在本新聞稿發佈之日的預期,因此在該日期之後可能會發生變化。讀者不應過分重視前瞻性信息,也不應在任何其他日期依賴這些信息。雖然公司可以選擇更新此信息,但IT不承諾在任何特定時間更新此信息,除非根據適用法律的要求。
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