City View Green Holdings Inc. Completes Issuance of Shares in Settlement of Debt
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 ha completato un accordo di debito emettendo 78.083.779 azioni ordinarie a $0,03 per azione, estinguendo circa $2,3 milioni di debito dal proprio bilancio. Le azioni sono soggette a un periodo di blocco fino al 28 marzo 2025. Di queste, 19.372.366 azioni sono state emesse a parti correlate, inclusi amministratori e dirigenti, riducendo un debito di $581.170,98. L'azienda ha fatto affidamento sulle esenzioni MI 61-101 poiché il valore della transazione era inferiore al 25% della capitalizzazione di mercato.
City View Green Holdings ha completado un acuerdo de deuda emitiendo 78,083,779 acciones comunes a $0.03 por acción, saldando aproximadamente $2.3 millones en deuda de su balance. Las acciones están sujetas a un período de retención hasta el 28 de marzo de 2025. De la cantidad total, 19,372,366 acciones fueron emitidas a partes relacionadas, incluidos directores y funcionarios, liquidando $581,170.98 en deuda. La empresa se basó en las exenciones MI 61-101 ya que el valor de la transacción estaba por debajo del 25% de la capitalización de mercado.
City View Green Holdings는 주당 $0.03에 78,083,779주를 발행하여 부채 정산을 완료하였으며, 약 $2.3 백만의 부채를 재무제표에서 제거하였습니다. 이 주식은 2025년 3월 28일까지 보유 기간이 적용됩니다. 총 발행 주식 중 19,372,366주는 이사 및 임원을 포함한 관련 당사자에게 발행되어 $581,170.98의 부채를 정리했습니다. 회사는 거래 가치가 시장 가치를 25% 미만으로 유지했기 때문에 MI 61-101 면제를 이용했습니다.
City View Green Holdings a réalisé un règlement de dettes en émettant 78 083 779 actions ordinaires à 0,03 $ par action, effaçant environ 2,3 millions de dollars de dettes de son bilan. Les actions sont soumises à une période de blocage jusqu'au 28 mars 2025. Parmi le total, 19 372 366 actions ont été émises à des parties liées, y compris des administrateurs et des dirigeants, réglant 581 170,98 $ de dettes. La société s'est appuyée sur les exonérations MI 61-101, car la valeur de la transaction était inférieure à 25 % de la capitalisation boursière.
City View Green Holdings hat einen Schuldenausgleich abgeschlossen, indem 78.083.779 Stammaktien zu je $0,03 ausgegeben wurden, wodurch etwa $2,3 Millionen an Schulden aus der Bilanz getilgt wurden. Die Aktien unterliegen bis zum 28. März 2025 einer Haltefrist. Von der Gesamtzahl wurden 19.372.366 Aktien an nahestehende Parteien, einschließlich Direktoren und leitenden Angestellten, ausgegeben, wodurch $581.170,98 an Schulden beglichen wurden. Das Unternehmen hat sich auf MI 61-101-Ausnahmen gestützt, da der Transaktionswert unter 25 % der Marktkapitalisierung lag.
- Elimination of $2.3M in debt from balance sheet
- Improved financial flexibility for business operations
- Significant shareholder dilution through issuance of 78.1M new shares
- Related party transactions involving company insiders for $581K of the debt settlement
Company Clears over
Toronto, Ontario--(Newsfile Corp. - November 27, 2024) - City View Green Holdings Inc. (CSE: CVGR) (OTC Pink: CVGRF) ("City View" or the "Company"), an innovative Canadian-based cannabis-infused edibles manufacturing company, announces that further to its press release of October 31, 2024, it has now issued an aggregate of 78,083,779 common shares at a deemed price of
Some of these debt settlements constituted related party transactions within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as certain directors and officers, and a company with common directors and officers, were issued an aggregate of 19,372,366 shares in settlement of an aggregate
Rob Fia, CEO and President of the Company stated: "City View has removed a substantial amount of indebtedness from the balance sheet which provides greater flexibility for management to execute on the business plan. We are excited about our prospects and look forward to providing additional updates on the vision for City View soon."
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.
For further information contact:
City View Green Holdings Inc.
Rob Fia, CEO & President
Phone: 416.722.4994
Email: rob@cityviewgreen.ca
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
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 such as future business prospects 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 epidemics or pandemics 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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231561
FAQ
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