Eden Empire Inc. has received its Cannabis Retail Store License Authorization (the “License”) from the Liquor & Cannabis Regulation Branch (the “LCRB”) for its cannabis dispensary location at 30 Lakeshore Dr. NW in Salmon Arm, BC (the “Location”). The Company is also pleased to announce that it has entered into a debt settlement agreement (the “Debt Settlement”) with an arm’s length services provider of the Company to settle certain outstanding invoices and completed the closing for the acquisition of certain companies for an aggregate amount of CAD$235,000 (the “Outstanding Amount”).
Corporate Update
In full settlement and satisfaction of the Outstanding Amount, the Company has issued 4,700,000 common shares of the Company at a deemed price of $0.05 per common share (the “Debt Shares”). The issuance of the Debt Shares is subject to approval by the Canadian Securities Exchange. All Debt Shares issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance of the Debt Shares in accordance with applicable securities legislation. For further information or should you have any questions, please feel free to email us at investors@edenempire.com.
About Eden Empire
Eden Empire is in the business of investments and operations in the cannabis sector and engaging in retail cannabis sales. Eden Empire 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.
