- Alberta’s cannabis industry regulatory agency has lifted a moratorium on accepting new retail licenses
- Budd Hutt is seeking retail partnerships in Alberta and across Canada
- CVGR CEO indicated that the lifting of the moratorium motivates the company to complete its buildout of a cannabis production facility
City View Green Holdings Inc. (CSE: CVGR) is poised to benefit following Alberta’s AGLC regulatory agency’s decision to lift its moratorium on accepting new retail cannabis licenses, announcing that it will issue five new licenses weekly (http://ibn.fm/dRNM1). CVGR sees the move as providing a direct route to market for its products, as Budd Hutt, the company’s retail arm, seeks strong financial investment partners and retail partnerships in Alberta and across Canada (http://ibn.fm/jR11d). CVGR CEO Ian MacDonald said that the move would add value to the company’s 19.9 percent equity position in Budd Hutt and, ultimately, its shareholders.
For retail-focused cannabis company Budd Hutt, the addition of brick-and-mortar retail stores would cement the brand and the company in the recreational cannabis market while it prepares for growth into Ontario and other key markets in the near future.
The company expects to announce a retail partnership prior to the end of Q3 2019. Budd Hutt CEO Craig Belcher said in a news release that the company is “laser focused on acquiring the right retail opportunities in the right locations that will showcase Budd Hutt’s outstanding design and concept and provide consumers with a best-in-class experience in and out of (its) retail locations.”
“The lifting of the licensing moratorium in Alberta is extremely exciting and further motivates CVG towards completing our buildout of our Brantford facility and obtaining our licensing so we can ensure we supply Budd Hutt with unique products of the highest quality and consistency,” MacDonald stated in a news release.
Toronto, Canada-based CVGR is a vertically integrated, seed-to-sale cannabis company that’s planning to grow high-quality cannabis and produce extracts. The company anticipates producing edible products, distillates and water-soluble products for the beverage market once they become legalized. CVGR is focused on becoming a diversified company that will potentially acquire targets in the cannabis industry.
For more information, visit the company’s website at www.CityViewGreen.ca
NOTE TO INVESTORS: The latest news and updates relating to CVGR are available in the company’s newsroom at http://ibn.fm/CVGR
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