TORONTO, May 11, 2020 /CNW/ - Cannabis Growth Opportunity Corporation ("CGOC", or the "Company") (CSE: CGOC), a cannabis focused investment corporation with both public and private cannabis holdings, announced today that the Company has issued an aggregate of 272,000 common shares pursuant to certain directors' fee settlements and has granted an aggregate of 1,300,000 stock options.
On May 11, 2020, CGOC issued an aggregate of 272,000 common shares of the Company, at a price of $0.25 per share, in settlement of $68,000 in accrued directors' fees payable for the year ended October 31, 2019.
On May 11, 2020, CGOC also granted and issued an aggregate of 1,300,000 incentive stock options to a number of the Company's officers, directors and consultants. The stock options were granted in accordance with the Company's stock option plan and are exercisable for a period of four years from the date of issuance at an exercise price of $0.25 per share.
Both the common shares and stock options issued by the Company are subject to a mandatory hold period of four months and a day under applicable Canadian securities laws.
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC's main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the Company's business plan and matters relating thereto, and risks associated with the Company's investments and financial objectives, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's public filings on SEDAR. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
SOURCE Cannabis Growth Opportunity Corporation
For further information: please contact Cannabis Growth Opportunity Corporation: Sean Conacher, CEO, Tel: (647) 660-0566, Website - www.cgocorp.com, Investor Relations - Email: [email protected]