On August 26, 2024, Captiva Verde Wellness Corp., a public company listed on the Canadian Securities Exchange under the trading symbol PWR and on the US OTC Market under the symbol CPIVF, announced several updates. The company has arranged a private placement of 150 million units at $0.02 per unit with Cormel Capital LLC, a European based finder, subject to CSE approval. Each unit consists of one common share and one common share purchase warrant that can be converted to a common share for $0.05 per warrant for 3 years.
The proceeds from this placement will be utilized for general working capital and the development of affordable housing on the company’s 100% owned, debt-free 130-acre property in New Brunswick. Additionally, negotiations are ongoing with Ronnie Strasser and his nominees for the potential sale of the Miami Padel team, with various considerations involved, including the return of shares and warrants to the company for cancellation.
If negotiations with Ronnie Strasser are unsuccessful, the company plans to sell the entire Miami Padel team and its marketing rights through a sales process involving multiple agents. The company aims to focus on the real estate business, as per its original mandate with the CSE, after this sale. Forward-looking statements included in this release provide insights into Captiva’s health and wellness platform expansion. While these statements are based on reasonable assumptions, they are subject to various uncertainties and risks. The Company cautions that actual results may differ from these forward-looking statements and undertakes to update or revise them as required by law.
To access the source version of this press release, please visit https://www.newsfilecorp.com/release/221195.
