HALIFAX, Jan. 20, 2020 /CNW/ - ViveRE Communities
Inc. (TSXV: VCOM) ("ViveRE" or the "Company") announces that it
has issued non-transferable warrants of the Company (each, a
"Warrant") to arm's length parties ( collectively the
"Lenders" and each a "Lender"), as a loan bonus
pursuant to promissory notes issued to the Lenders today (the
"Promissory Notes" and each a "Promissory Note"). The
Warrants have been issued pursuant to Policy 5.1 of the TSX Venture
Exchange (the "Exchange")
ViveRE has $150,000 of Promissory
Notes outstanding which have a maximum maturity date of one (1)
year (the "Maturity Date") and provide that, in
consideration of the risk to the Lender in respect of the loans
extended thereunder, the Company may, at its sole option, any time
prior to the Maturity Date, and subject to Exchange acceptance,
grant a loan bonus to the Lender of the maximum number of
non-transferable Warrants permitted to be issued as a loan bonus to
such Lender pursuant to Exchange Policy 5.1, being the principal
sum outstanding under each Promissory Note divided by the Market
Price (as such term is defined in Exchange policy 1.1 –
Interpretation) of the common shares of the Company (the "Common
Shares" and each, a "Common Share"). The board of
directors of the Company (the "Board") determined that it is
in the best interests of the Company to exercise their option to
issue the Warrants as a loan bonus to each Lender as set forth in
their respective Promissory Note.
The trading price of the Common Shares on January 17, 2020 was $0.21. The Company has issued the maximum number
of Warrants permitted under Policy 5.1 with respect to the
aggregate amount of $150,000
outstanding under the Promissory Notes, resulting in 714,000
Warrants being issued, in aggregate, to the Lenders. Each Warrant
is exercisable into one Common Share (each, a "Warrant
Share") for a period of 12 months from the date of issuance, at
an exercise price of $0.21 per
Warrant Share.
The Lenders are Philip Gaunce of
Halifax, Nova Scotia, Raymond Wagner of Halifax, Nova Scotia and IQ Commercial
Mortgage Strategy. Each of the three Lenders is lending
$50,000.
This Loan Bonus in the form of
Warrants of the Issuer pursuant to Exchange Policy 5.1 is subject
to Exchange Approval.
On behalf of the Board of Directors of ViveRE Communities
Inc.
"Mike Anaka"
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Forward-Looking Statements
This news release contains forward-looking statements
relating to the future operations of ViveRE and other statements
that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should", "anticipate",
"expects" and similar expressions. All statements other than
statements of historical fact, included in this release, including,
without limitation, statements regarding the future plans and
objectives of ViveRE Communities Inc, are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from ViveRE Communities Inc.'s
expectations include other risks detailed from time to time in the
filings made by ViveRE Communities Inc. with securities
regulators.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of ViveRE Communities Inc.The reader
is cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and ViveRE Communities Inc.
will only update or revise publicly the included forward-looking
statements as expressly required by Canadian securities
law.
SOURCE ViveRE Communities Inc.