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City View Green Holdings Inc. (CVGRF) is a Canadian-based cannabis-infused edibles manufacturing company located in Toronto, Ontario. The company recently received approval to extend its non-brokered private placement to raise gross proceeds of up to $1,000,000. With a focus on consumer packaged goods, City View aims to unlock and maximize shareholder value through strategic business alternatives. They own a 27.5% stake in Budd Hutt Inc., a retail-focused cannabis company in Alberta, and are committed to executing their business plan with the support of the Board of Directors.
City View Green Holdings has completed a debt settlement by issuing 78,083,779 common shares at $0.03 per share, clearing approximately $2.3 million in debt from its balance sheet. The shares are subject to a hold period until March 28, 2025. Of the total, 19,372,366 shares were issued to related parties, including directors and officers, settling $581,170.98 in debt. The company relied on MI 61-101 exemptions as the transaction value was below 25% of market capitalization.
City View Green Holdings Inc. extends its non-brokered private placement to raise up to $1,000,000 through the issuance of up to 100,000,000 units at a price of $0.01 per unit. The private placement includes common shares and warrants, with the opportunity to accelerate the expiry date of the warrants under certain conditions. City View intends to utilize the net proceeds for general corporate purposes. Additionally, the company's board of directors is exploring strategic alternatives to maximize shareholder value, including the potential spin-out of a subsidiary as a standalone public company.
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