Captiva Announces Termination of the Agreements with Solargram Farms and Filing of Statement of Defence and Counterclaim
Coquitlam, British Columbia--(Newsfile Corp. - November 5, 2021) - Captiva Verde Wellness Corp. (CSE: PWR) (OTC Pink: CPIVF) ("Captiva") announces that it has terminated its acquisition agreement with Solargram Farms and will file early next week a Statement of Defence and Counterclaim in response to the claim filed by Solargram Farms in New Brunswick, Canada.
A copy of the Statement of Defence and Counterclaim may be obtained from the Office of the Clerk of the New Brunswick Court of Queen's Bench (Trial Division) in the Moncton Judicial District. The Moncton Judicial District (the district where this claim is pending) may require in person attendance in the Clerk's office to obtain a copy.
There have been several instances where Solargram has failed to comply with material provisions of our agreement. Accordingly, we did not feel it was in the best interest of Captiva and its shareholders to complete the transaction and exercised our rights to terminate the agreement. Captiva owns the land and all of the buildings that hosts the current operations of Solargram. In addition to terminating the acquisition agreement, Captiva has also given notice to Solargram that we have terminated Solargram's tenancy in all of our facilities, buildings and farmland. Captiva will be examining and pursuing ways to recover our investment in addition to the counterclaim filed.
On Behalf of the Board of Directors
Chief Executive Officer and Director
Cell: (949) 903-5906
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