In This Article:
Calgary, Alberta and Denver, Colorado--(Newsfile Corp. - May 21, 2021) - INDVR Brands Inc. (CSE: IDVR) (the "Company" or "INDVR Brands" or "INDVR"), a premier cannabis brand, consolidator and edibles retailer, announced today it has extended the exercise period of a total of 5,800,558 share purchase warrants ("Warrants"), all of which are exercisable at $0.25 per share. The Warrants were issued in connection with a pre-RTO capital raise in October 2018. The new expiry date for the Warrants has been extended by one (1) year, and accordingly, the new expiry date will be April 17, 2022.
All other terms and conditions of the Warrants will remain unchanged. The Warrant extension is subject to the approval of the CSE.
The Company has also issued 1,000,000 Class B shares (the "Shares") as partial settlement on an outstanding lawsuit claim to an arm's length party. The Shares issued on this settlement will be restricted from trading for up to 24 months from the date of issue.
The Company also announces that Mr. Darcy Campbell has resigned as CFO due to personal reasons. Mr. Campbell has agreed to work under a contract basis in the interim until his successor is found. We thank Mr. Campbell for his hard work and dedication while with INDVR.
About INDVR Brands Inc.
INDVR is focused on aggregating and optimizing popular cannabis brands throughout North America. We are committed to the pursuit of becoming a premier, globally recognized "House of Brands," holding a client portfolio of award-winning products with an extensive market footprint. For consumers, INDVR seeks to become the definitive source for unparalleled product selection, a tireless commitment to quality, exceptional craftsmanship and lifestyle. Whatever the occasion, INDVR's has an inspired cannabis product tailored to meet every taste. INDVR's management team brings expertise in operations, cannabis cultivation and mergers and acquisitions to support its U.S. expansion through accretive acquisitions and organic growth.
Additional Information
Additional information regarding INDVR is available under INDVR's SEDAR profile at www.sedar.com.This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
Investor Information
Company Contact:
Scott Koyich,
Investor Relations
Scott@briscocapital.com
Phone: +1 (403) 619-2200
Disclaimer and Forward-Looking Information
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 "anticipate", "could", "intend", "expect", "believe", "will", "projected", "potential", "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, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following the closing of the Offering, closing of future tranches of the Offering, the use of proceeds of the Offering and the benefit of the Offering to the Company. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.