- Company recently announced a name change and opened on the Canadian Securities Exchange
- It has acquired a wholly owned subsidiary focused on seed-to-retail offerings in the rapidly growing cannabis industry
- Company is assembling a top management team with an extensive content base focused on long-term returns
On March 5, 2019, the company formally known as Icon Exploration Inc. (TSX.V: IEX.H) opened on the Canadian Securities Exchange under new corporate name City View Green Holdings Inc. (CSE: CVGR). The company’s focus continues to be on assessing and potentially acquiring targets in the cannabis industry through diversification. The full announcement and explanation of consolidation for registered shareholders can be found at http://cnw.fm/dKJ5u.
Following the name change and consolidation, the company acquired City View as a wholly owned subsidiary focused on seed-to-retail offerings in the cannabis industry. This vertically integrated cannabis company aims to grow quality cannabis and produce high-quality extracts. The company plans to enter the edible-cannabis and beverage markets following legalization.
As part of its strategy, City View Green Holdings has secured Master Grower Mario Meek, an original founding partner of WeedMD, and has assembled an equally skilled extraction team. In addition, City View owns a 19.9 percent stake in the retail-focused cannabis company Budd Hutt Inc. Budd Hutt has access to Alberta retail. This positions City View to potentially secure shelf space and distribution for future products.
City View CEO Rob Fia thanked shareholders for their patience during this period of transition. In a news release, he 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.” According to Deloitte (http://cnw.fm/q3X7Z), cannabis has the potential to become a $22.6 billion industry in Canada.
Fia went on to explain that with the acquisition and the CSE listing, the company can now focus its efforts on assembling one of the best management teams with an extensive contact base capable of differentiating City View from the competition. The appointment of Tim Peterson to CVGR’s board of directors following the City View acquisition is evidence of this goal. Peterson brings with him a wealth of education, experience and political connections. He is the brother of two liberal politicians: former premier of Ontario David Peterson and former federal cabinet minister Jim Peterson.
City View Green Holdings is working to create a well-diversified company capable of producing long-term returns for shareholders and investors.
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