Indiva Announces Investment in RetailGo Inc.
LONDON, ON, Jan. 22, 2019 /CNW/ – Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (US:NDVAF) is pleased to announce it has completed a 9.9% equity investment into RetailGo Inc (or “RGI”). Indiva will contribute leases for 10 proposed retail locations in Ontario, and will receive a 5-year promissory note in the amount of $730,000, plus an additional $300,000 to be repaid separately, representing funds committed to date.
RetailGo Inc will be managed by Koby Smutylo, who has resigned from his position as COO and Director of Indiva, effective immediately, in order to focus his efforts on RGI. Koby is a co-founder of Indiva. The Indiva board would like to thank Koby for his efforts and contribution, and wish him well in his new endeavour.
Indiva’s wholly owned subsidiary is licensed under the Cannabis Act and is a supplier of high quality, medical grade cannabis and cannabis products. Indiva’s mission is to offer cannabis products that have a positive impact, improving lives and communities.
Indiva aims to become a house of global marijuana brands, recognized for high quality cannabis products. As marijuana laws liberalize in Canada and internationally, Indiva will expand its product offering to include safe edibles and other client-friendly cannabis products. In Canada, Indiva will produce and distribute Ruby Cannabis Sugar, Sapphire Salt, as well as Bhang Chocolate and other products through license agreements and joint-ventures respectively. In addition, as marijuana laws liberalize internationally, Indiva will use its Canadian operations as a platform to open new markets for its cannabis products.