KINGSVILLE, ON, July 14, 2023 /CNW/ - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTC: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, has entered into a debt settlement agreement with Hybrid Financial Ltd., a marketing services provider, and pursuant thereto shall settle an aggregate debt of $305,100 (the "Debt") through the issuance of 964,285 common shares (the "Settlement Shares") at a deemed issuance price per share of $0.28, and a cash payment of $35,100.
The Settlement Shares will be issued in reliance on a prospectus exemption pursuant to securities legislation and will be subject to a four-month plus one day statutory hold period. The issuance of the Settlement Shares in partial settlement of the Debt remains subject to all necessary regulatory approvals including final acceptance by the Canadian Securities Exchange.
Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on Greenway.ca and updates can be followed on Instagram, Twitter, Facebook, and LinkedIn.
The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements, including statements regarding the successful issuance of the Settlement Shares and the extinguishment of the Debt. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, and includes those risks described in the Company's final prospectus dated September 3, 2021 and the Company's management's discussion & analysis for the fiscal year ending March 31, 2022, copies of which are available under the Company's profile at www.sedar.com. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
SOURCE Greenway Greenhouse Cannabis Corporation
Company Contact: Darren Peddle, Director and CFO, Greenway Greenhouse Cannabis Corporation, [email protected], 1-519-712-0311
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