City View Green's Retail Arm Budd Hutt Inc. Strategically Positioned to Take Advantage of the AGLC Lifting of Alberta Retail Licensing Moratorium
Toronto, Ontario--(Newsfile Corp. - June 3, 2019) - City View Green Holdings Inc. (formerly Icon Exploration Inc.) (the "Company" or "CVG") trading through the facilities of the Canadian Securities Exchange ("CSE") under the symbol "CVGR" is pleased to announce that Budd Hutt Inc. ("Budd Hutt"), is currently involved in pursuing strategic retail cannabis partnerships in Alberta and across the country, including BC, SK and ON., engaging and building strong financial investment partners to fulfill the funding needs of the organization along the way. With the recent news from Alberta on May 29, 2019 (https://aglc.ca/news/retail-cannabis-licence-moratorium-lifted) we are excited about the next few weeks.
Budd Hutt has identified several targets and shortlisted several opportunities in the Alberta marketplace and will likely be prepared to announce a partnership prior to the end of Q3, 2019 that may include existing retail locations including a potential flagship location in Alberta. The addition of bricks & mortar retail stores will cement the brand and the company in the Canadian recreational cannabis market while preparing for expansion into Ontario and other key markets in the near future.
Craig Belcher, CEO, Budd Hutt, commented:
"The retail assets that we are exploring are key strategic pillars for Budd Hutt and our retail concept and business model. We are pleased with the opportunities we have identified with a number of great organizations that will undoubtedly add value along the way in our due diligence process including value-added advice through an extensive network of advisors and if required the potential for future capital investment. We applaud the AGLC's lifting of the licensing moratorium and are laser focused on acquiring the right retail opportunities in the right locations that will showcase Budd Hutt's outstanding design and concept and provide consumers with a best in class experience in and out of our retail locations. It's an exciting time and an opportunity to create something truly unique."
Ian MacDonald, CEO, CVG, commented:
"This expansion will continue to add value to our current equity position in Budd Hutt and ultimately our shareholders. It also provides a direct route to market for CVG's product. The lifting of the licensing moratorium in Alberta is extremely exciting and further motivates CVG towards completing our buildout of our Brantford facility and obtaining our licensing so we can ensure we supply Budd Hutt with unique products of the highest quality and consistency."
Budd Hutt is private company that is contemplating a private placement offering which will be available directly from the Company or at the Stockhouse Deal Room www.stockhouse.com/dealroom. Budd Hutt will inform investors over the next several days when the financing is live. Budd Hutt invites investors to visit www.buddhutt.com to sign up for information as it becomes available. The Stockhouse Deal Room ("Stockhouse") is an equity investment platform created specifically for public companies to access investors. Stockhouse has more than 1 million unique visitors a month and provides access to a large number of qualified and accredited investors.
City View has been structured to be a vertically integrated cannabis company focused on seed to retail. Upon receipt of its Cannabis Act licence, City View will incorporate growing, extraction, production and retail at their Brantford, Ontario facility. It is our intention that City View will grow exceptional quality cannabis and produce high quality extracts. Once legalized, it is our expectation that City View will produce high quality edible products, distillates and water-soluble products for the beverage market. In addition, City View owns a 19.9% stake in Budd Hutt Inc. Budd Hutt is a retail focused Cannabis company with access to licenses in Alberta and other retail opportunities across Canada. We expect that Budd Hutt will secure shelf space and distribution opportunities for City View's products. City View's Future is Green. Follow the Green. For more information visit www.cityviewgreen.ca or www.buddhutt.com.
For further information contact:
City View Green Holdings Inc.
Ian MacDonald, CEO
City View Green Holdings Inc.
Rob Fia, President
Budd Hutt Inc.
Craig Belcher, CEO
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Disclaimer for Forward-Looking Information
This press release contains forward-looking statements regarding a financing and securing recreational cannabis retail licenses across Canada as described in the press release and information that is based on the beliefs of management and reflect the Company's current expectations. By their nature, forward-looking statements involve known and unknown risks, uncertainties 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. 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.
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