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Green Rise Foods Announces Completion of Private Placement to Chief Financial Officer

News provided by newsfile2024-07-12

July 12, 2024 6:37 PM EDT | Source: Green Rise Foods Inc.

Toronto, Ontario--(Newsfile Corp. - July 12, 2024) - Green Rise Foods Inc. (TSXV: GRF) ("Green Rise" or the "Company") is pleased to announce that its previously announced private placement to George Hatzoglou, the Chief Financial Officer of the Company, has been conditionally accepted for filing by the TSX-V and that the TSX-V has granted permission to close. Accordingly, the transaction, which involved the issue to the Chief Financial Officer of 500,000 Common Shares at a cash purchase price per share of $0.60 or $300,000 in the aggregate, was completed today.

The 500,000 Common Shares are subject to a four-month hold period such that no shares acquired in the private placement may be traded before November 13, 2024, without compliance with all applicable securities legislation. Furthermore, such shares, without prior written approval of the TSX-V, may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX-V or otherwise in Canada or to or for the benefit of a Canadian resident prior to November 13, 2024.

ABOUT GREEN RISE

Green Rise is a "Best‐In‐Class" Controlled‐Environment Agriculture grower of fresh produce. The Company wholly owns three greenhouse ranges, with a total growing capacity of 86.5 acres of greenhouse ranges including a 15 Acre Organic range leased to Mastronardi Produce Ltd. Green Rise is proud to be an environmentally sustainable investment providing bee‐pollinated, high-quality fresh products to meet the growing consumer demand for locally grown fresh produce.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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