Toronto, Ontario-based City View Green Holdings (CSE: CVGR) is aiming to close on its letter of intent (“LOI”) for a purchase leaseback transaction of its Brantford, Ontario, facility and property. Terms of the deal call for the new landlord to finance required build-out and capital improvements that are required for CVGR to attain Health Canada licenses (http://cnw.fm/peT19). An article further discussing the company reads, “The agreement notes that CVGR would exercise its option to purchase the Brantford property then transfer that option to a financier. CVGR would then enter a five-year lease with a five-year renewable term. The company would have the right of first refusal to purchase the facility and property if the new owner decides to sell. . . . ‘This is a nondilutive way for us to finance and finalize the required build-out of the Brantford facility,’ CVGR CEO Ian MacDonald said in a news release. ‘We are confident we have established the framework for a mutually beneficial outcome with the financier. We hope to have this deal closed within the next 60 days, and our current build-out initiatives are proceeding as planned.’”
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About City View Green Holdings Inc.
City View Green has been structured to be a vertically integrated cannabis company focused on seed to retail. Upon receipt of its Cannabis Act license, City View Green will incorporate growing, extraction, production and retail at its Brantford, Ontario, facility. It is the company’s intention that City View Green will grow exceptional quality cannabis and produce high-quality extracts. Once legalized, City View Green expects to produce high-quality edible products, distillates and water-soluble products for the beverage market. In addition, City View Green owns a 19.9% stake in Budd Hutt Inc., a retail-focused cannabis company with access to licenses in Alberta and other retail opportunities across Canada. The company expects that Budd Hutt Inc. will secure shelf space and distribution opportunities for City View Green’s products. City View’s future is green. Follow the green. For more information, visit the company’s website at www.CityViewGreen.ca.
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