Mr. Rob Fia reports

CITY VIEW GREEN ANNOUNCES FIRST TRANCHE CLOSING AND EXTENSION OF ITS NON-BROKERED PRIVATE PLACEMENT

City View Green Holdings Inc., further to its May 6, 2024, news release, has now completed a first tranche of its non-brokered private placement. Under the first tranche, the company has issued 9.5 million units for gross proceeds of $95,000. No finders' fees were paid in connection with the first tranche. All securities issued under the first tranche are subject to a hold period expiring Oct. 21, 2024, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

The first tranche comprises the initial portion of the offering, which is hereby extended, under which City View is selling up to $1-million of units of the company at a price of one cent per unit. Each unit consists of one common share in the capital of the company and one-half common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share of the company at a price of five cents per warrant share for a period of three years following the date of issuance, except that, from and after the date that is one year after the closing date, if the average closing price of the company's common shares on the CSE is equal to or exceeds 5.5 cents during any 10-trading-day period, then the company may, at any time thereafter, accelerate the expiry date of the warrants to the date that is 30 days following the date on which the company issues notice to all the warrantholders of the new expiry date (and the company will also issue a news release on the same date as it issues notice confirming the new expiry date of the warrants). Refer to the company's May 6, 2024, news release for further details on the offering.

Rob Fia, the company's president, chief executive officer and director, participated in the first tranche and purchased 1.5 million units for $15,000. Participation by the insider in this financing is considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insider's participation in the offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insider did not exceed 25 per cent of the fair market value of the company's market capitalization. The company did not file a material change report at least 21 days prior to the closing of the first tranche as participation of the insider had not been confirmed at that time.

In addition, City View announces that it has engaged marketing firm Rocket Invest AI Corp., an arm's-length third party, to provide various marketing services through multiple social media platforms, as well as facilitate communication with the financial community. The initial term of the agreement is for three months effective June 20, 2024, for which Rocket Invest AI will be paid $30,000.

About City View Green Holdings Inc.

City View is a leading consumer packaged goods company focused on the development of cannabis-infused edibles with the receipt of its Cannabis Act processing licence on April 30, 2021.

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