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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  City View Green Holdings Inc.    CVGR   CA1787181025

CITY VIEW GREEN HOLDINGS INC.

(CVGR)
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City View Advances Construction Towards Obtaining a Processing License

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06/30/2020 | 05:35pm EDT

Toronto, Ontario--(Newsfile Corp. - June 30, 2020) - 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, further to its press release on June 10th, 2020, that construction is well underway at City View's facility located at 49 Easton Road, Brantford Ontario. City View is targeting to complete construction and the security installation by July 31st, 2020. City View anticipates submitting the evidence package to Health Canada for its processing license by August 15, 2020.

City View is pleased to announce that product development for its cannabis infused food offerings is progressing well. City View expects to offer cookies, chocolates and a sugar confectionery items and expects to submit these product offerings for approval to Health Canada and the Provincial regulatory bodies by September 2020.

Rob Fia, CEO, commented,

"Our team is moving rapidly and ahead of schedule with the construction of our facility and at a fast pace towards product development. City View expects to offer some exciting cannabis-infused food products to the marketplace during 2020."

About City View

City View Green is a leading cannabis-infused food company focused on the development of food brands, extraction and distribution. Upon the anticipated receipt of its Cannabis Act processing and sales licences ("Cannabis Licences"), City View will incorporate cannabis-infused food production and extraction at its Brantford, Ontario facility. Once operational, it is our expectation that City View will produce high quality cannabis-infused food, oils, distillates, and water-soluble products for the food and beverage markets. 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 City View's products. For more information visit www.cityviewgreen.ca.

For further information contact:

City View Green Holdings Inc.
Rob Fia, CEO & President
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 and other factors related to completing construction at 49 Easton Road and submitting the evidence package to obtain a processing license from Health Canada 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.

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/58920


© Newsfilecorp 2020
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Financials
Sales 2019 - - -
Net income 2019 -24,6 M -18,2 M -18,2 M
Net Debt 2019 4,22 M 3,12 M 3,12 M
P/E ratio 2019 -0,42x
Yield 2019 -
Capitalization 19,3 M 14,2 M 14,3 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 41,3%
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Managers
NameTitle
Rob Fia President, Chief Executive Officer & Director
Mario Meek Head-Operations
Eric Myung Chief Financial Officer
Stephen G. McNeill Independent Director
Andrew Timothy Peterson Independent Director
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