City View Green Holdings Inc.(CSE: CVGR) (OTCQB: CVGRF) (“City View” or the “Company“), trading through the facilities of the Canadian Securities Exchange (“CSE“) under the symbol “CVGR” and on the OTCQB^® under the symbol “CVGRF”, announces that it has negotiated a settlement (the “Settlement“) with Infusion Works Inc. (“Infusion“) whereby the amended and restated asset purchase agreement between the parties dated April 20, 2020 (refer to the Company’s news release dated April 30, 2020) is now terminated. The profit-sharing agreement between the parties (refer to the Company’s news release dated April 30, 2020) is also now terminated. In conjunction with these terminations, Karl Wirtz has resigned as a director of the Company. The Company thanks Karl for his contributions to the Board during his term with the Company.

Under the principal terms of the Settlement, the parties agreed:

• Infusion will continue to provide its baking, product formulation and related expertise to the Company and its subsidiaries;
• Infusion will provide contract manufacturing services for Pawsperity and Therasnax pet snacks for the Company’s wholly-owned subsidiary, Pawsperity Pet Snacks Inc.;
• Infusion will no longer have the right to appoint a nominee to the Company’s Board;
• The Company will not issue to Infusion the Tranche 3 consideration shares (being 23,231,057 common shares) previously required under the April 30, 2020 agreement;
• Of the consideration shares previously issued to Infusion under the April 30, 2020 agreement, 8,542,222 common shares are currently held in escrow and were previously to be released as to 1/8 every three months. Under the terms of the Settlement, these shares will be released quarterly over the next three years based on the value of services Infusion contributes to City View or Pawsperity Pet Snacks Inc. during that time;
• Infusion will transfer certain IP relating to Pawsperity and Therasnax;
• Any profits associated with Pawsperity, Therasnax and Pawsperity…