City View Green Holdings Inc. Signs LOI to Purchase Blue Heaven Coffee Company
Toronto, Ontario--(Newsfile Corp. - September 3, 2019) - City View Green Holdings Inc. (CSE: CVGR) (the "Company") trading through the facilities of the Canadian Securities Exchange ("CSE") under the symbol "CVGR" is pleased to announce that it has entered into a Letter of Intent ("LOI") with Blue Heaven Coffee Company (BHC) to purchase 100% of the company for a combination of cash and shares. Further details to be provided upon signing of a definitive agreement.
Included in this purchase will be a number of Blue Heaven Cafés under contract with a National coast to coast partner respected as a prominent Canadian institution. The National partner provides high foot traffic and high-volume potential locations that span from coast-to-coast in Canada. A significant expansion is planned that includes a number of Blue Heaven Cafés as well as branded "Blue Heaven" vending machines nationally. Blue Heaven Coffee Company exclusively sells Jamaica Blue Mountain Coffee which is considered by experts to be one of the best coffees produced in the world.
Ian MacDonald, CEO of City View Green Holdings Inc. stated:
"This is a strategic acquisition that will not only offer Canadians the finest coffee in the world, it will also give us a direct route to market for future edibles and consumables and provides CVG a high traffic national footprint with a viable and sustainable business model and revenue stream."
Blue Heaven Coffee Company CEO Justin Defour added:
"We are confident CVG is the right group to take BHC and the brand to the next level. Their experienced team will ensure the success and growth of BHC and the Blue Heaven Brand for years to come."
City View Green 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 Green 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. For more information visit: www.cityviewgreen.ca.
For further information contact:
City View Green Holdings Inc.
Ian MacDonald, CEO
City View Green Holdings Inc.
Rob Fia, President
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 and information related to the acquisition of BHC that are 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. 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.
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