AISI304
3 years ago
Eden Empire secures Cannabis Development Permit; Announces JV (Joint Venture) in Historic Gastown, Vancouver, B.C.
https://webfiles.thecse.com/sedar_filings/00049922/2104071908476191.pdf
VANCOUVER, BC; April 5th, 2021 - EDEN™ (CSE:EDEN), is thrilled to announce that the City of
Vancouver has granted to EDEN™ a development permit for a new retail cannabis location at 348 Water
Street, located in the heart of Gastown, Vancouver. EDEN™ has also entered into a letter of intent with an
arm’s length third party to operate its Gastown location as a joint venture for proceeds of $500,000CAD.
EDEN™ intends to use these funds to expand its footprint in the State of Michigan.
EDEN™ Gastown Vancouver Dispensary
EDEN™ secures a cannabis development permit in Vancouver and brings in proceeds for further
expansion into Michigan. Can't Stop Won't Stop.
Key Takeaways
? Gastown serves as a primary shopping, dining and entertainment district in the heart of Downtown
Vancouver.
? This location sits just steps from the Historic Steam Clock and Terminal SkyTrain Station.
? Expected to use the proceeds for further expansion in the US cannabis market.
Gerry Trapasso, Director & CEO, commented, "Being located just footsteps from Terminal Station and the
historic Gastown Steam Clock makes this location a massive attraction for tourists, visitors and residents
of the area. We are extremely excited about the introduction to this area and feel our boutique style culture
provides an exciting opportunity in Gastown. Obtaining the Gastown location allows EDEN to uniquely
position itself with key retail locations within the City of Vancouver.
The gross proceeds brought in through this JV will be used to further our expansion in the US and comes
after more powerful news is released from the State of Michigan.”
For further information or should you have any questions, please feel free to email us at
investors@edenempire.com.
Gerry Trapasso, CEO
About Eden Empire
EDEN™ is in the business of investments and operations in the cannabis sector and engaging in retail cannabis sales.
EDEN™ intends to expand its retail operations in Canada and to expand its business to cannabis cultivation, extraction
and processing and become a fully integrated cannabis product company in the United States.
EDEN™ has an award winning and established nationwide brand, including a substantial intellectual property
portfolio, and a dedicated management team with extensive cannabis industry experience. Upon completion of
EDEN’s currently intended acquisitions, and approval to operate its retail locations, the Company is expected to have
a significant retail cannabis footprint in Canada and Michigan. Retail cannabis operations are an emerging sector with
significant cash flow potential.
AISI304
3 years ago
Eden Empire completes First Tranche Closing of Non-Brokered Private Placement
https://webfiles.thecse.com/sedar_filings/00049922/2104071908324638.pdf
"VANCOUVER, British Columbia; March 29, 2021 (GLOBE NEWSWIRE) - Eden Empire Inc.
(CSE: EDEN) (the "Company" or "Eden Empire") is pleased to announce that it has closed the
first tranche of its previously announced $1,000,000 private placement. The first tranche consisted
of 4,875,333 units (“Units”) for gross proceeds of $585,040 (the “First Tranche Private
Placement”).
Each Unit consists of one common share at a price of $0.12 per share and one common share
purchase warrant (the “Warrant”) exercisable at $0.20 per share for a period of 24 months from
the date of issuance (the “Warrant Expiry Date”). If the daily volume weighted average price of
the Company’s common shares on the Canadian Securities Exchange (“CSE”) is $0.40 per share
or greater for any ten consecutive trading days during the period where the Warrants are
outstanding, the Company may, by written notice to the holder or by issuing a news release,
accelerate the Warrant Expiry Date of the Warrants to be 30 days following the date of such notice
or news release.
In connection with the First Tranche Private Placement, the Company paid an aggregate cash
finder’s fee of $19,980 and issued 166,500 Warrants to Haywood Securities Inc. and Leede Jones
Gable Inc.. All securities issued in connection with the First Tranche Private Placement will be
subject to a four-month hold period from the closing date under applicable Canadian securities
laws."
AISI304
3 years ago
Eden Empire's Interim Financial Statements for Six Months ended January 31, 2021 and 2020
https://webfiles.thecse.com/sedar_filings/00049922/2103291811166549.pdf
"8. OPTION AGREEMENT
Option Agreement for the Acquisition of Actium Botanicals
On October 7, 2019, the Company entered into an option agreement (the “Michigan Option”) to purchase all of the issued
and outstanding shares of Actium Botanicals, Incorporated (“Actium”). Actium is in the process of applying for facility
licenses at two locations: its Battle Creek facility and its Stronach facility in Michigan, USA. Pursuant to the Actium Option,
the seller agrees to use reasonable best efforts for Actium to obtain the required licenses, consents and approvals to
initiate the operations of the facilities.
The Company paid a non-refundable deposit of USD$20,000 with respect to the Michigan Option, which may be applied
against future payments due under the option. The Michigan Option was valid for a period of one year, then extended for
up to one year at the cost of US$1,667 for each month extended. On January 5, 2021, Eden Michigan elected to extend
the Michigan Option for three successive periods of 30 days by paying Tondu an extension payment in the amount of
US$5,000 and, as a result, the Option Termination Date is now May 5, 2021. Eden Michigan anticipates extending the
Michigan Option for further periods in the event that the Michigan Option is not exercised prior to May 5, 2021.
As the purchase price for the Michigan Option, the Company shall make payments in an amount equal to 4% of the
amount of all gross receipts received by Actium at the Battle Creek and Stronach facilities, due within 45 days after each
calendar quarter. The Company may terminate its obligation to make payments on gross receipts by making a one-time
payment of US$5,000,000.
The Michigan Option provides that, concurrently with its execution, the Company and Actium will enter into a service
agreement and a lease for the real estate owned by Actium and an affiliate of the vendor, on which the Stronach Facility
is situated. Pursuant to the service agreement, the Company will provide certain services to support Actium’s operation
of the Battle Creek and Stronach facilities prior any exercise of the Michigan Option."
AISI304
3 years ago
Eden Empire (CNSX: EDEN): Management's Discussion and Analysis for the Six Months ended January 31, 2021 - Dated: March 29, 2021
https://webfiles.thecse.com/sedar_filings/00049922/2103291812151532.pdf
"On October 7, 2019, the Company entered into an option agreement (the “Michigan Option”) to purchase all of the
issued and outstanding shares of Actium Botanicals, Incorporated (“Actium”). Actium is in the process of applying for
facility licenses at two locations: its Battle Creek facility and Stronach facility in Michigan, USA. Pursuant to the Actium
Option, the vendor agrees to use reasonable best efforts for Actium to obtain the required licenses, consents and
approvals to initiate the operations of the facilities."
"The Company paid a non-refundable deposit of $20,000 with respect to the Michigan Option, which may be applied
against future payments due under the option. The Michigan Option is valid for a period of one year, and may be
extended for up to an additional year at the cost of US$1,666.67 for each month extended.
As the purchase price for the Michigan Option, and until such time as the Company makes the Option Termination
Payment, the Company shall make payments in an amount equal to 4% of the amount of all gross receipts actually
received by Actium at the Battle Creek and Stronach facilities, due within 45 days after each calendar quarter, until
payment of the Option Termination Payment. The “Option Termination Payment” is a one-time payment to the vendor
of US$5,000,000.
The Michigan Option provides that, concurrently with its execution, the Company and Actium will enter into a service
agreement and a lease for the real estate owned by Actium and an affiliate of the vendor, on which the Stronach Facility
is situated (the “Stronach Lease”). Pursuant to the service agreement, the Company will provide certain services to
support Actium’s operation of the Battle Creek and Stronach facilities prior any exercise of the Michigan Option.
OUTLOOK
The Company’s current goal is to become the most prominent cannabis company in North America. The Company
intends to grow organically in Canada and expand throughout the United States. The Company intends to accomplish
this goal through organic growth and expansion, including acquisitions to allow it to grow vertically, horizontally and to
increase market share. The Company intends to make acquisitions and investments in other entities for the strategic
growth of its business operations with its major focus on the United States."
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CodeBerries
3 years ago
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