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The Company has entered into an arrangement to satisfy fees payable to a consultant for future services rendered under an advisory agreement dated September 20, 2019 , through the issuance of common shares of the Company ("Shares"). The number of Shares issuable will be based on the market price of the Shares following the date services are rendered under the agreement and will be issued pursuant to prospectus exemptions of applicable securities laws.
Indiva also intends to issue a consultant 177,041 Shares, representing a deemed price of $0.4787 per Share, to settle debt in the amount of $84,750 . The Shares will be subject to a four-month hold period in accordance with applicable securities laws.
Indiva's global family of cannabis brands set the standard for quality and innovation. Indiva aims to bring its exceptional portfolio of products to Canadians and cannabis enthusiasts around the world as laws permit. Indiva's production facility, based in London, Ontario , includes aeroponic, environmentally-conscious grow rooms and extraction and manufacturing space, which will be able to process 70 tonnes of biomass annually and produce safe, high-quality cannabis-infused edibles. In Canada , Indiva will produce and distribute Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt and Ruby® Gems, as well as the award-winning Bhang® Chocolate, and other derivative products through licence agreements and joint ventures. Click here to connect with Indiva on social media and here to find more information on the Company and its products.
DISCLAIMER AND READER ADVISORY
Neither 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 the issuance of Shares. 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 regulatory and other third parties' approvals and licensing and other risks associated with regulated entities in the cannabis industry. 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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