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Captiva Verde Wellness Corp., traded as CPIVF, is a company dedicated to health and wellness. Recently, they signed a binding letter of intent for the acquisition of a professional sports franchise, the Miami Padel Club. Captiva aims to democratize investing in sports franchises through a public company, offering growth opportunities to its shareholders. Padel, the sport of the century, boasts over 25 million players globally, with the Padel market valued at €2 billion per year. Miami Padel Club's participation in the Pro Padel League championship series is set to enhance its value in the sports market. With an impressive roster of top-ranked male and female players, Miami aims to dominate the league. Captiva is actively engaging with players worldwide to convert them into Miami Padel Club shareholders, fostering financial success in the rapidly growing Padel industry. Additionally, the company plans to change its name to Sonny Sports and Wellness Inc., marking a significant transition in its strategic direction.
Captiva Verde Wellness Corp. (CSE: PWR) (OTC Pink: CPIVF) has announced amendments to its share repurchase and option agreements. Key changes include:
1. Extending the completion deadline for the share repurchase transaction to December 31, 2024.
2. Modifying contractual hold periods for Greenbriar Sustainable Living Inc. shares transferred to Ronnie Strasser.
3. Revising the option agreement with the Strasser Group, allowing for phased exercise of options to purchase up to 37 million Captiva shares at C$0.02 per share.
4. Arranging a private placement to issue up to 150 million units at C$0.02 per unit, potentially raising C$3 million for working capital and advancing sustainable real estate projects.
These amendments and the private placement are subject to regulatory approvals and may not close as described.
Captiva Verde Wellness Corp. (CSE: PWR) (OTC Pink: CPIVF) has announced a share repurchase agreement with its subsidiary 1435300 B.C. (Sonny Sports Holdco) and certain shareholders. The company plans to transfer its interest in Sonny Sports Holdco in exchange for the return and cancellation of 89 million common shares at $0.02 per share and 55 million warrants at $0.00001 per warrant. This transaction aims to unwind the August 2023 acquisition of 1435300 B.C. , allowing Captiva to refocus on its original business. Additionally, Captiva will enter into an option agreement to potentially sell up to 37 million shares at $0.02 per share and assume $858,249.09 in liabilities to be settled with 1.5 million shares of Greenbriar Sustainable Living Inc. The deal is subject to regulatory approvals.
Captiva Verde Wellness Corp. (CSE: PWR) (OTC Pink: CPIVF) has announced several key updates:
1. Private Placement: The company has arranged a private placement of 150 million units at $0.02 per unit with European-based Cormel Capital , subject to CSE approval. Each unit includes one common share and one warrant convertible at $0.05 for 3 years.
2. Use of Proceeds: Funds will be used for working capital and to develop affordable homes on the company's 130-acre property in New Brunswick.
3. Miami Padel Team Negotiations: Captiva Verde is in talks with Ronnie Strasser to potentially sell back the Miami Padel team in exchange for the return of 89 million shares and 55 million warrants, plus the option to purchase an additional 37 million shares.
4. Alternative Plan: If negotiations fail, the company plans to sell the Miami Padel Team to the highest bidder and focus on its real estate business.
Captiva Verde Wellness Corp. (CSE: PWR, OTC: CPIVF) announced key updates including the resignation of director Ronnie Strasser as of July 2, 2024. Strasser played a important role in securing full ownership of the Miami Padel Club. The company has added Tommy Sullivan and Chris Harvey to its advisory board to help secure partnerships with major league sports teams. Padel, a rapidly growing sport with 25 million players globally, has gained significant traction, especially with partnerships like the New York Yankees' collaboration with A1 Padel.
The Miami Padel Club, wholly owned by Captiva Verde, achieved notable success by winning Week 1 of the Pro Padel League Championships held in Miami. Captiva Verde aims to leverage this ownership through sponsorships, broadcast deals, and potentially legal sports betting to achieve a billion-dollar league valuation. The club is supported by a strong social media presence, boasting over 100 million followers combined across various platforms.
Captiva Verde plans to convert Padel players into shareholders, offering them a stake in the sport's financial growth. CEO Jeff Ciachurski emphasized the company's unique position as the only publicly traded entity in the fast-growing Padel market, which is valued at €2 billion annually.
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