Phivida Holdings Inc. Announces Share Issuance

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

VANCOUVER and SAN DIEGO, CA, Dec. 18, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") announced, pursuant to the policies of the Canadian Securities Exchange, the issuance today of an aggregate of 400,000 shares, on a private placement basis, pursuant to minutes of settlement entered into by the Company on November 18, 2019, in partial settlement of certain outstanding litigation that is not material to the Company.  The shares were issued to certain arm's length parties at a deemed price per share of $0.175, being the closing price of the Company's shares on the Canadian Securities Exchange on the trading day prior to the date that the Company entered into the minutes of settlement.  The shares will be subject to statutory and contractual resale restrictions, including a four month hold period pursuant to Canadian securities laws.

ABOUT Phivida Holdings Inc.

Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information in this news release relate to future events or future performance and include statements about expectations regarding Phivida's business and the settlement of certain outstanding litigation. Forward-looking information are based on assumptions believed to be reasonable by management of the Company at the time they were made, including assumptions regarding the cannabis industry.  Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated or implied due to a number of factors and risks, including but not limited to delays, increased competition, changes in consumer demand and preferences, and legal and/or regulatory changes.  Accordingly, readers are cautioned not to place undue reliance on forward-looking information.  The forward-looking information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the policies of the Canadian Securities Exchange. The forward-looking information contained in this news release are expressly qualified in their entirety by this cautionary statement.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities 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 Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepted responsibility for the adequacy or accuracy of this release.

SOURCE Phivida Holdings Inc.

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