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
