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|Day's Range||0.0567 - 0.0766|
|52 Week Range||0.0300 - 0.5500|
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. LONDON, Ontario, July 21, 2020 -- Indiva Limited (the “Company” or “Indiva”).
MIAMI, July 20, 2020 /CNW/ - Bhang Inc. ("Bhang" or the "Company") (CSE: BHNG) (OTCQX: BHNGF), a global cannabis CPG brand company with an award-winning portfolio of products, announced today that the Company has completed a number of transactions with Cannabis Growth Opportunity Corporation ("CGOC") (CSE: CGOC). Pursuant to a settlement agreement dated July 17, 2020 (the "Settlement Agreement"), the Company and CGOC have settled two convertible promissory notes in the aggregate principal amount of CAD $600,000 (collectively, the "Notes") by the Company issuing to CGOC a total of 6,666,667 subordinate voting shares of Bhang ("Shares"), at a deemed price of $0.09 per share. Furthermore, CGOC has settled and released all other rights and remedies available under its forbearance agreement with Bhang entered into on April 22, 2020 and prior financings in exchange for a lump sum payment of $1,152,857 which was satisfied by the Company with (i) the issuance of 12,809,524 Shares, at a deemed price of $0.09 per share, and (ii) the issuance of warrants for the purchase of 5,261,905 Shares, exercisable for a period of 24 months from the date of issuance at an exercise price of $0.15 per share.
For a more comprehensive overview of the corporate and financial highlights presented in this press release, please refer to Bhang's Management's Discussion and Analysis for the Three Months Ended March 31, 2020 , and the Company's Condensed Consolidated Interim Financial Statements for the Three Months Ended March 31, 2020 and 2019, which are filed on SEDAR. At the end of fiscal 2019, Bhang's Board of Directors asked Jamie L. Pearson , Bhang's Chief Operating Officer to become the Company's President and Chief Executive Officer. Ms. Pearson accepted the responsibility of ensuring Bhang's survival in the developing downturn in the cannabis industry and grow Bhang into a profitable company.