Cannabis
Phivida Holdings Inc. Announces Share Issuance
Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) (“Phivida” or the “Company”) announced, pursuant to the policies of the Canadian Securities Exchange, the issuance today of an aggregate of 400,000 shares, on a private placement basis, pursuant to minutes of settlement entered into by the Company on November 18, 2019, in partial settlement of certain outstanding litigation that is not material to the Company. The shares were issued to certain arm’s length parties at a deemed price per share of $0.175, being the closing price of the Company’s shares on the Canadian Securities Exchange on the trading day prior to the date that the Company entered into the minutes of settlement. The shares will be subject to statutory and contractual resale restrictions, including a four month hold period pursuant to Canadian securities laws.
SOURCE Phivida Holdings Inc.
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