Toronto, Ontario--(Newsfile Corp. - April 21, 2022) - City View Green Holdings Inc. (CSE: CVGR) (OTCQB: CVGRF) ("City View" or the "Company"), a leading consumer packaged goods company focused on the development of cannabis-infused edibles is pleased to announce that it has received its Cannabis Research Licence under Health Canada's Cannabis Act and Cannabis Regulations.
This licence permits City View to conduct controlled human sensory (taste) trials of cannabis infused products. Activities granted as per Health Canada include, 1) to possess cannabis for the purpose of research and 2) to produce cannabis for the purpose of research. As an essential part of new product development, taste tests will lead to City View bringing to market high quality edibles that are reflective of market trends and consumer preference.
City View will now be able to partner with companies that would like to develop edible cannabis consumables, create innovative recipes, assess consumer experience, or explore the development process of launching a cannabis infused product.
Rob Fia, CEO, commented:
"Today cannabis consumers have more choice than ever but some of the choices in the marketplace do not achieve the flavour profile desired by consumers. Through this research licence City View will gain an in-depth understanding of consumers' taste preferences ahead of its competitors to produce popular, tasty products. City View and its clients and customers will 'create delicious together' ".
Steve Naraine, Director of Discovery:
"The rigorous structured collection of data, analysis and interpretation of people's response to gustation (taste) and olfactory (smell) stimuli will generate insights into market preference which will lead to consumer driven edibles that will satisfy the different flavour profiles."
City View would also like to announce that it is currently preparing its sale amendment to its processing licence to allow the Company to bring products directly to market.
For further information contact:
City View Green Holdings Inc.
Rob Fia, CEO & President
Email: rob@cityviewgreen.ca
Follow us on Twitter:
https://twitter.com/cityviewgreen1
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
About City View
City View is a leading consumer packaged goods company focused on the development of cannabis-infused edibles. With the receipt of its Cannabis Act processing licence on April 30, 2021, City View will incorporate cannabis-infused food production at its Brantford, Ontario high-capacity facility. In addition, City View owns a 27.5% stake in Budd Hutt Inc. ("Budd Hutt"), a retail-focused cannabis company with access to cannabis cultivation and production licences in Alberta and other retail opportunities across Canada. Through its relationship with Budd Hutt, the Company anticipates securing shelf space, product placement, and distribution opportunities for our white label partner products. For more information visit: www.cityviewgreen.ca.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements which are not composed of historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, availability and costs of financing needed in the future, changes in equity markets, delays in the development of projects, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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