TORONTO, May 19, 2020 /CNW/ – Cannabis Growth Opportunity Corporation (“CGOC“, or the “Company“) (CSE: CGOC), a cannabis focused investment corporation with both public and private cannabis holdings, is pleased to announce that the Company has completed its investment in Grown Rogue International Inc. (CSE: GRIN) (“Grown Rogue“), as initially announced on February 10, 2020. Grown Rogue is a vertically-integrated, multi-state operator, cannabis company with operations in Oregon, California and Michigan.
Pursuant to a subscription agreement, CGOC had committed to invest up to a total of Cdn. $1,500,000 in Grown Rogue though a non-brokered private placement offering (the “Offering“) of units (the “Units“), at a price of Cdn. $0.10 per Unit. Each Unit is comprised of one common share (the “Grown Rogue Shares“) and one common share purchase warrant (the “Grown Rogue Warrants“) in the capital of Grown Rogue. On February 10, 2020, the Company completed an initial investment of Cdn. $500,000 in Grown Rogue and purchased a total of 5,000,000 Units. Furthermore, CGOC had agreed to complete the remaining Cdn. $1,000,000 investment upon the satisfaction of certain corporate milestone events by Grown Rogue.
On May 15, 2020, CGOC completed its remaining Cdn. $1,000,000 investment in Grown Rogue and purchased an additional 10,000,000 Units, at a price of Cdn. $0.10 per Unit. Each Warrant entitles CGOC to purchase one additional Grown Rogue Share for a period of 24 months from the date of issuance at an exercise price of Cdn. $0.13 per share. Furthermore, Grown Rogue may accelerate the expiration date of the Grown Rogue Warrants to a period of 30 days following written notice to the Company in the event that the Grown Rogue Shares close at or above Cdn. $0.25 per share for a period of 10 consecutive trading days on the Canadian Securities Exchange. Proceeds from the Offering are intended to be used by Grown Rogue for general corporate purposes. In connection with the Offering, Grown Rogue has agreed to provide CGOC with a pre-emptive right to participate in future offerings of Grown Rogue securities in order to maintain its respective percentage of ownership at the time of such offering. In addition, Grown Rogue has agreed to nominate one board member of Grown Rogue as recommended by CGOC at future shareholder meetings and the ability, if the Company does not have its nominee on Grown Rogue’s board of directors, to appoint a board observer.
Sean Conacher, Chief Executive Officer of CGOC, commented, “We are thrilled to be increasing our investment in Grown Rogue and to be supporting them in their continued success. They are operationally among the best-in-class and we salute them on their progress and accomplishments thus far in Michigan where we believe there is an opportunity for Grown Rogue to establish significant market share.”
All securities issued pursuant to the Offering are subject to a mandatory hold period of four months and a day under applicable Canadian securities laws.
Early Warning Disclosure Pursuant to National Instrument 62-103
Prior to the completion of the Offering, CGOC held 20,000,000 Grown Rogue Shares and 5,000,000 Grown Rogue Warrants. As of the date hereof, after giving effect to the Offering, the Company beneficially owns or controls 30,000,000 Grown Rogue Shares and 15,000,000 Grown Rogue Warrants, representing approximately 28.19% of the issued and outstanding Grown Rogue Shares on a non-diluted basis and approximately 37.06% of the issued and outstanding Grown Rogue Shares on a partially diluted basis, assuming the exercise of all of the Grown Rogue Warrants by the Company.
The Grown Rogue Shares and the Grown Rogue Warrants were acquired for investment purposes. While Company currently has no plans or intentions with respect to the Grown Rogue securities, the Company may from time to time acquire additional securities of Grown Rogue, may sell all or a portion of its securities of Grown Rogue or may continue to hold the Grown Rogue Shares and Grown Rogue Warrants, or other securities of Grown Rogue, depending on market conditions, the Company’s view of Grown Rogue’s prospects, other investment opportunities and other factors considered relevant the Company.
A copy of the early warning report to be filed by the Company will be available under Grown Rogue’s issuer profile on SEDAR at www.sedar.com or by contacting Sean Conacher, CEO at (647) 660-0566. The Company’s head office is located at 240 Richmond Street West, Suite 4163, Toronto, Ontario, M5V 1V6.
About Grown Rogue
Grown Rogue (CSE: GRIN) is a vertically-integrated, multi-state cannabis family of brands on a mission to inspire consumers to “enhance experiences” through cannabis. Grown Rogue has combined an expert management team, award winning cultivation team, state of the art indoor and outdoor manufacturing facilities, and consumer insight-based product categorization, to create innovative products thoughtfully curated from “seed to experience”. The Grown Rogue family of products includes sun-grown and indoor premium flower, patented nitrogen sealed pre-rolls along with chocolate edibles featuring a partnership with a world‐renowned chocolatier.
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC’s main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. 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. Such factors include, among others, the following risks: risks associated with the Company’s business plan and matters relating thereto, and risks associated with the Company’s investments and financial objectives, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company’s public filings on SEDAR. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Cannabis Growth Opportunity Corporation
For further information: Please contact Cannabis Growth Opportunity Corporation: Sean Conacher, CEO, Tel: (647) 660-0566; Website – www.cgocorp.com; Investor Relations – Email: [email protected]
Red White & Bloom Announces Participation in Upcoming Investment Conferences – GlobeNewswire
TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is pleased to announce they will be in attendance at two invitational investment conferences this month.
2020 Cantor Fitzgerald Virtual MSO Cannabis Summit
Presentation: Wednesday, December 16th, 2020 – 3:00PM ET
For more information or to schedule a one-on-one meeting with RWB’s management during these events, please contact Red White & Bloom’s Investor Relations at IR@redwhitebloom.com.
About Red White & Bloom Brands Inc.
The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets of Michigan, Illinois, California, Arizona, Oklahoma and Massachusetts with respect to cannabis, and the US and internationally for hemp-based CBD products.
For more information about Red White & Bloom Brands Inc., please contact:
Tyler Troup, Managing Director
Circadian Group IR
Visit us on the web: www.RedWhiteBloom.com
Follow us on social media:
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the new team members expertise and how the Company will benefit from their ability to assist the Company implement its business plan. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
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. Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, and the volatility of the Company’s common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
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. Such factors include, among others, risks related to the Company’s proposed business, such as failure of the business strategy and government regulation; risks related to the Company’s operations, such as additional financing requirements and access to capital, reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to the Company and its business generally. The Company cautions that the foregoing list of material factors is not exhaustive. 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. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. While the Company may elect to, it does not undertake to update this information at any particular time.
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.
Feds should invest to meet climate goals, catalyze recovery: RBC – Investment Executive
“Making these investments now could help underpin a low-carbon transition, drawing in business investment, and complementing the government’s efforts to support jobs and economic recovery,” it said.
The government has planned emissions reductions toward the ultimate goal of net-zero emissions by 2050.
Yet, for major polluters, such as the energy sector and heavy industry (such as concrete and steel), carbon capture is technically feasible but “often seen to be cost prohibitive,” RBC noted.
Carbon capture projects “are capital intensive and high-risk during the extended construction phase,” it said, adding that this discourages private investment.
This is where government should be stepping into the breach with public funding for research, RBC suggested. Ultimately, driving down costs and developing effective technology will help the projects become more viable for private investment.
“As it lays out long-term climate plans, the federal government has an opportunity to write a new chapter in Canadian climate policy: one that acknowledges the importance of the energy sector, encourages abatement across industries, leverages investment from the private sector, and spurs innovation in sectors that contribute the most to our climate challenge,” the report said.
At the same time, government investment can help combat the long-lasting effects of the Covid-19 crisis, the report said.
“While crisis support for the economy has rightly been the government’s focus, investment in new technologies and industries can limit lasting scars from this recession,” it said.
Council varies its investment policy – Houston Today
The District of Houston has bolstered its policy of placing public monies in local financial institutions by allowing the amount to be invested to exceed othwerwise specified limits.
It means that $7.5 million in investments coming due Dec. 31 can be placed with either the Bulkley Valley Credit Union or the Royal Bank or with both and not placed elsewhere.
In a detailed presentation made to council Nov. 17, District of Houston chief administrative officer Gerald Pinchbeck, also the District’s financial officer, noted the District’s existing policy sets dollar amount limits based on a percentage of the District’s total investment account and on a percentage of the assets of the Bulkley Valley Credit Union.
The same policy also sets limits on what can be invested with the Royal Bank, the only other financial institution in the community, based on the percentage of securities within the District’s total investment portfolio.
“If there are any overages, then upon maturity the investments woud need to be made elsewhere,” he said.
The District’s investment mix includes term deposits now at the credit union which are guaranteed and senior government and corporate bonds.
In approving of the move to exceed the investment limits in the policy, council directed that the policy be brought back for a further review at a future date.
“Investments under the temporary policy variance will be made by reviewing the rates being offered, the security of the investments available, and the expected return on investment,” said Pinchbeck.
The money the District invests are not required for its current operating or capital spending obligations.
The District’s long-standing policy of placing investments with financial institutions that have a presence in the community reflects its commitment to recognize and support local businesses.
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