from April 9th, don't remember seeing anything on it here. Quinsam has a pretty good chunk of change in CVGR. I've put a small bid in at .08 to match Roger's bet. I'd really like it at .06 again.
We should be getting our announcement of a declared dividend soon. Hopefully the start of some positive energy news releases to get this thing going!
https://www.newsfilecorp.com/release/80015/City-View-Green-Holdings-Inc.-Announces-Board-Change-and-1st-Tranche-Closing-of-up-to-2000000-Private-Placement-Financing
Toronto, Ontario--(Newsfile Corp. - April 9, 2021) - 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", announces the resignation of Donald Robinson as a director of the Company. The Company would like to thank him for his efforts during the past year and wish him well in his future endeavors.
City View also announces that it is undertaking a non-brokered private placement (the "Private Placement") of up to 25,000,000 units ("Units") at a price of $0.08 per Unit for proceeds of up to $2,000,000 if the Private Placement is fully subscribed. City View previously filed for and has received price protection for this financing from the CSE. The Company has today closed the first tranche (the "First Tranche") of this Private Placement and issued an aggregate of 3,892,500 Units for total gross proceeds of $311,400.
Each Unit consists of one common share of the Company and one-half (0.5) of one warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.15/share for a period of 2 years from the closing date, subject to acceleration from and after the date that is four months and one day after the closing date, if the closing price of the Company's common shares on the CSE is equal to or exceeds $0.20 for 10 consecutive trading days, at which time City View may then accelerate the expiry date of the warrants to the date that is 30 days following the date on which the Company issues notice to all the warrant holders of the new expiry date.
The Units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. A finder's fee in cash and/or non-transferable warrants may be paid to eligible finders in relation to this financing. Proceeds from this financing will be used for general working capital.
Certain Insiders participated in the First Tranche closing (Rob Fia, the Company's President, CEO and director, purchased 1,200,000 Units; Stephen McNeill, a director of the Company, pursuant 312,500 Units, and Quinsam Capital Corporation, an insider by virtue of its shareholdings, purchased 1,250,000 Units). Participation by Insiders in the Private Placement is considered a "related party transaction" pursuant to MI 61-101. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders' participation in the Private Placement in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the Private Placement by the Insiders did not exceed 25% of the fair market value of the Company's market capitalization.