NEW YORK, Aug. 17, 2020 /CNW/ - This press release is being disseminated by Ospraie Ag Science, LLC ("Ospraie"), as required by National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues in relation to their beneficial ownership of common of securities of CO2 GRO Inc. (TSXV: GROW) ("Grow") with its headquarters located at 40 King Street West, Suite 5800, Toronto, Ontario M5H 3S1 according to its website.

On August 14, 2020, Ospraie completed its purchase of 10,000,000 units (the "Units") of Grow for a price of C$0.12 per Unit by way of a non-brokered private placement of Grow, for an aggregate subscription price of C$1,200,000 (the "Transaction").

Each Unit is comprised of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"), each Warrant entitling the holder to purchase one Common Share for a period of 18 months from the closing date at a price of $0.15 per Common Share.

Immediately prior to the closing of the Transaction, Ospraie did not own any securities of Grow.  

Immediately following the closing of the Transaction, Ospraie owns, directly or indirectly, (i) 10,000,000 Common Shares, representing approximately 12.6% of the issued and outstanding common shares of Grow on a non-diluted basis; and (ii) 10,000,000 Warrants, representing, together with the 10,000,000 Common Shares, approximately 22.3% of the issued and outstanding common shares of Grow on a partially diluted basis (assuming only the exercise of the 10,000,000 Warrants held by Ospraie).

The securities of Grow were acquired for investment purposes. Ospraie reviews its holdings in Grow from time to time and may, depending on such review, market and other conditions and subject to compliance with applicable hold periods, increase or decrease its ownership of common shares, other securities of Grow or related financial instruments, whether in the open market, by privately negotiated transaction or otherwise.

A copy of the early warning report to be filed by Ospraie in connection with the Transaction described above will be available on SEDAR under Grow's profile. This news release is issued under the early warning provisions of the Canadian securities legislation.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY OSPRAIE UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:

SOURCE Ospraie Ag Science, LLC

Copyright 2020 Canada NewsWire

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