23:46 | 30.07.2021
Grown Rogue Issues Shares for Services
Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE:GRIN) (OTC:GRUSF), a multi-state cannabis company with operations and assets in Oregon and Michigan, has announced that it has issued a total of 131,250 common shares to certain officers of the Company relating to amounts owed for services rendered. All of the above mentioned common shares were issued at a price of $0.20 per share and are subject to a four month and one day hold period expiring on December 1, 2021.
The aforementioned issuances of common shares to certain officers of the Company constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in section 5.5(b) and 5.7(a) of MI 61-101.
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