CSE New Listing - City View Green Holdings Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2019) - City View Green Holdings (CSE: CVGR) is one of the latest new listing on the Canadian Securities Exchange, having previously traded on the TSX Venture Exchange as Icon Exploration, prior to a change of business. City View, structured to be a vertically integrated cannabis company focused on seed to retail, has submitted its Cannabis Licence Application to Health Canada.
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The company has entered into an exclusive five-year lease, with option to renew for five years, on a facility and surrounding lands in Brantford, Ontario. The 40,000 square foot facility is designed with 20,000 square feet of growing space housing 16 hermetically sealed growing rooms, with the remainder of the space being utilized for processing, packaging and administration. Assuming that City View is granted a Cannabis Licence, it proposes to initially utilize 20,000 square feet of the facility for cultivation of up to 7,500 kilograms per year of pharmaceutical grade cannabis. Initially, City View proposes to produce 200 kilograms of cannabis oil per year with expansion capabilities up to 1,800 kilograms per year, assuming additional capital is raised to purchase additional equipment.
City View also holds a 19.99% equity interest in Budd Hutt Inc., a private company that has the exclusive option to acquire Retailco, a private company that has made application for licences permitting it to operate up to 37 retail cannabis store locations in the Province of Alberta.
Rob Fia, CEO, stated: "Moving to the CSE market was strategic for our Company as we believe it gives us greater flexibility to pursue opportunities around the world in various jurisdictions where cannabis is increasingly becoming legal. Now that we've completed the acquisition of City View and the CSE listing, we will be focusing our efforts on finalizing, within the next short period of time, the assembly of what we believe will be one of the best management teams with an extensive contact base that will differentiate our company from the pack. We look forward to reporting back in the near future as we expand and execute our business plan."
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Barry Morgan, CFO
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