City View Green Holdings (CSE: CVGR) (OTCQB: CVGRF) today amended its buildout and business strategy to respond to the evolving cannabis market. According to the update, City View will put the cultivation buildout and operations on hold until there is a strong business case to enter the cultivation market, and will focus on extraction, edibles and distribution. The company continues the buildout of its facility with a focus on designated areas for extractions and edibles. “We have been witnessing a surplus in both cannabis and hemp cultivation,” City View Green CEO Ian MacDonald said in the news release. “City View is focused on targeting higher margin, sustainable business opportunities that will provide long term growth and favorable returns for our stakeholders. The reality is we can now acquire both cannabis and hemp for our extraction purposes for less than the investment of bringing cultivation in-house. Our focus will be on producing the finest quality extracts and derivatives as well as being an innovative leader in the edibles market and maximizing distribution opportunities through our proprietary distribution network.”
To view the full press release, visit http://ibn.fm/kozdR
About City View Green Holdings Inc.
City View Green is a vertically integrated cannabis company focused on extraction, edibles production and distribution. Upon receipt of its Cannabis Act processing and sales licenses, City View will incorporate extraction and edibles production at its Brantford, Ontario facility. The company intends to produce the highest quality cannabis and hemp extracts and derivatives. Once operational, the company expects to produce high quality oils, edible products, distillates and water-soluble products for the food and beverage markets. In addition, City View owns a 19.9% stake in Budd Hutt Inc. Budd Hutt is a retail focused cannabis company with access to licenses in Alberta and other retail opportunities across Canada. The company expects that Budd Hutt will secure shelf space and distribution opportunities for City View’s products. 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
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.