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Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA.VN) (US:NDVAF) is pleased to announce it has completed a 9.9% equity investment into RetailGo Inc (or “RGI”). Indiva will contribute leases for 10 proposed retail locations in Ontario, and will receive a 5-year promissory note in the amount of $730,000, plus an additional $300,000 to be repaid separately, representing funds committed to date.
RetailGo Inc will be managed by Koby Smutylo, who has resigned from his position as COO and Director of Indiva, effective immediately, in order to focus his efforts on RGI. Koby is a co-founder of Indiva. The Indiva board would like to thank Koby for his efforts and contribution, and wish him well in his new endeavour.
About IndivaIndiva’s wholly owned subsidiary is licensed under the Cannabis Act and is a supplier of high quality, medical grade cannabis and cannabis products. Indiva’s mission is to offer cannabis products that have a positive impact, improving lives and communities.
Indiva aims to become a house of global marijuana brands, recognized for high quality cannabis products. As marijuana laws liberalize in Canada and internationally, Indiva will expand its product offering to include safe edibles and other client-friendly cannabis products. In Canada, Indiva will produce and distribute Ruby Cannabis Sugar, Sapphire Salt, as well as Bhang Chocolate and other products through license agreements and joint-ventures respectively. In addition, as marijuana laws liberalize internationally, Indiva will use its Canadian operations as a platform to open new markets for its cannabis products.
DISCLAIMER & READER ADVISORYNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to TSX Venture Exchange approval of the transactions contemplated herein, future international expansion, future product offerings, future entry into additional markets, changes to laws and regulations in Canada and internationally, and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary corporate, regulatory and other third parties approvals; licensing and other risks associated with regulated ACMPR entities; and completion of satisfactory due diligence. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE Indiva Limited
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SOURCE: Indiva Limited
Niel Marotta, CEO, INDIVA, Phone: 613-883-8541, Email: email@example.com; Steve Low,Investor Relations, Phone: 647-620-5101, Email: firstname.lastname@example.org