North Bud Capital Distributes 5,000,000 Shares of North Bud Farms Inc. as a Dividend to its Shareholders

MONTREAL, March 13, 2020 /CNW/ - This news release is issued by North Bud Capital Holdings Ltd. ("North Bud Capital") pursuant to the early warning requirements of National Instrument 62-104 and National Instrument 62-103 with respect to the disposition by North Bud Capital of 5,000,000 common shares of North Bud Farms Inc. (the "Issuer") as a dividend in kind to the shareholders of North Bud Capital effective as of the close of business on March 12, 2020.

On March 12, 2020, the board of directors of North Bud Capital authorized the disposition of a total of 5,000,000 common shares of the Issuer held by North Bud Capital by declaring and distributing a dividend in kind comprised of the foregoing shares, on a pro rata basis, to the shareholders of North Bud Capital (the "Dividend Disposition").  The closing price of the common shares of the Issuer on the Canadian Securities Exchange (CSE) on March 12, 2020 was $0.115. 

The Dividend Disposition is in accordance with North Bud Capital's stated intent to dispose of all or substantially all of its assets in an organized fashion, as approved by its shareholders at their last meeting.

Prior to the Dividend Disposition, North Bud Capital owned and controlled 10,417,833 common shares of the Issuer, representing 15.74% of the issued and outstanding common shares of the Issuer.  As a result of the Dividend Disposition, North Bud Capital holds a total of 5,417,833 common shares of the Issuer, representing 8.19% of the issued and outstanding common shares of the Issuer, and, assuming the exercise of the 3,333,333 warrants currently held by North Bud Capital, will hold a total of 8,751,166 common shares, representing a total of 12.58% of the issued and outstanding common shares of the Issuer on a partially diluted basis.

Depending on economic or market conditions, or matters relating to the Issuer, North Bud Capital may in the future choose to either acquire additional securities of the Issuer or dispose of securities of the Issuer.

For further information, and to obtain a copy of the early warning report filed under applicable securities legislation in connection with the transactions described herein, please go to the Issuer's profile on the SEDAR website at www.sedar.com, or contact Mr. Ryan Brown, CEO of North Bud Capital at 855-359-2475.

North Bud Capital Holdings Ltd.
38 Ch. Scott
Chelsea, Quebec
J9B 1R5

SOURCE North Bud Capital Holdings Ltd.