City View Green Holdings Inc. – a Canadian edibles company (CSE CVGR, OTC Pink CVGRF) – announced the sale of remaining units will be open through May 10, 2025. In the First Tranche that was announced December 23, 2024 the company stated it sold 23,475,000 units for a gross profit of C$234,750. The company plans to sell 76,525,000 of these units, generating a gross profit of C$765,250. The company is hoping to raise C$1,000,000 in total.
The company informed investors last month about a 2023 plan to investigate strategic options. The Board stated that it had considered these options:
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a possible spin-off into an independent, publicly traded subsidiary;
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Strategic partnerships with other parties or joint ventures;
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The sale of assets that are not core to the business;
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Additional value-enhancing measures
CEO Rob Fia said in February, “With the recent debt settlements for over $2.3 million, the company is now well positioned to execute on one or more of the various options identified in the strategic review. The cannabis industry is constantly changing, and the Company has committed to a strategy that allows it to adapt quickly to market changes while providing value to shareholders. This debt was paid by the company issuing additional shares.
City View has said that it could leave the cannabis industry or bring in assets other than cannabis. City View said it would consider changing from being an industrial company to one that invests in companies with high growth potential, such as those within Esports and Artificial Intelligence. City View’s announcement said: “The Board will review and identify acquisitions which are accretive and meet the Company’s wider strategy and scope.”
Green Market Report previously wrote that despite receiving its cannabis processing license in April 2021, the Toronto-based company has yet to generate any revenue from its edibles business and reported a C$244,328 loss in its most recent quarter. City View recently moved to a leased facility model after exiting retail operations through its 27.5% stake in Budd Hutt, which surrendered its final Alberta licenses due to fierce competition in small towns.