Cannabis Stock News: City View Green Holdings Inc. (CSE: CVGR) (OTCQB: CVGRF) Receives Automated, Selmi Chocolate Production Line Equipment for Producing Edibles and Appoints Karl Wirtz as a Director
Toronto, Ontario - April 22, 2021 (Newsfile Corp.) (Investorideas.com Newswire) 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" is pleased to provide an operational update related to the receipt of chocolate manufacturing equipment as previously announced on November 24, 2020 and January 14, 2021.
On April 21, 2021, City View's state of the art, scalable Selmi chocolate line arrived at our Brantford, Ontario production facility from Italy. Fit and installation will begin immediately, enabling City View to move to the next stage of edibles development and production planning with our licensed producer clients. Production will commence immediately upon receipt of a processing license from Health Canada under the Cannabis Act which is currently under review. City View is currently awaiting the arrival of gummy equipment as previously announced on January 14, 2021. City View is also pleased to announce that it will secure key bakery equipment to produce baked goods and pet snacks.
City View's management team is currently completing quality systems and operational procedures to produce the following edibles: filled and solid chocolates, gummies in blister packaging as well as baked goods such as cookies, protein and granola bars, and pet snacks. The anticipated launch of City View's white label chocolate, gummy and baked goods products remains on track during 2021.
The Company is also pleased to announce the appointment of Mr. Karl Wirtz as a Director of the Company. Mr. Karl Wirtz has been a professional entrepreneur and business owner for over 33 years. Mr. Wirtz built and presently manages a globally recognized bakery and co-packing business with world class food safety certifications carrying an "A" rating under the Global food safety initiative. Mr. Wirtz is currently servicing many household names in the CPG industry from all over the globe. Recently, Mr. Wirtz partnered with an Ontario based bakery and through this relationship he has built Canada's first cannabis infused bakery, contracted to Ontario's top licensed producer ("LP"). Mr. Wirtz created and managed the full concept and layout for an onsite cannabis packaging line and delivered excellent scores for that LP's order fulfilment upon the launch of the LP's recreational cannabis products.
"Once a processing license is granted by Health Canada, City View expects to commercialize product innovations to enter the Canadian adult recreational and wellness markets with our novel white label CBD and THC infused products for other licensed producers. Upon the receipt of a sales license from Health Canada, City View will produce its own branded chocolate, gummies, and baked goods for the Canadian market. City View's white label and branded strategy stands out from other companies and we believe these products represent the highest growth segments in the Canadian cannabis market. We are pleased to add Karl Wirtz to the Board of City View and the extensive experience and advice he will provide in consumer packaged goods manufacturing.", said Rob Fia, CEO and President.
For further information contact:
City View Green Holdings Inc.
Rob Fia, CEO & President
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
About City View
City View is a leading food company focused on the development of cannabis-infused edibles. Upon the anticipated receipt of its Cannabis Act processing and sales licences ("Cannabis Licences"), City View will incorporate cannabis-infused food production at its Brantford, Ontario high-capacity facility. 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 our white label partner products. For more information visit www.cityviewgreen.ca
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements 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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