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Sustainable Produce Urban Delivery Inc. and Rainy Hollow Ventures Inc. Announce Closing of Subscription Receipt Private Placement

Sustainable Produce Urban Delivery Inc. and Rainy Hollow Ventures Inc. Announce Closing of Subscription Receipt Private Placement
SPUD ) and Rainy Hollow Ventures Inc. (TSXV: RHV.P) (
Rainy Hollow ) are pleased to announce that SPUD has closed its previously-announced private placement of subscription receipts (
Subscription Receipts ) by issuing 3,227,500 Subscription Receipts at a price of $7.50 each, for gross proceeds to SPUD of approximately $24.2 million, pursuant to an agency agreement dated December 23, 2020 between Canaccord Genuity Corp. and Desjardins Securities Inc., who acted as co-lead agents, Cormark Securities Inc., PI Financial Corp. (collectively, the
Agents ), SPUD and Rainy Hollow.
The gross proceeds from the sale of the Subscription Receipts, less the Agents expenses paid at the closing of the private placement, are being held in escrow by Computershare Trust Company of Canada ( ....

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Rainy Hollow Ventures Inc. and Sustainable Produce Urban Delivery Inc. Announce Execution of Arrangement Agreement and Update Regarding Concurrent Private Placement

Rainy Hollow Ventures Inc. and Sustainable Produce Urban Delivery Inc. Announce Execution of Arrangement Agreement and Update Regarding Concurrent Private Placement
Rainy Hollow ) and Sustainable Produce Urban Delivery Inc. (
SPUD ) are pleased to announce that, further to their joint news release dated October 1, 2020, they have entered into an arrangement agreement dated December 21, 2020 between Rainy Hollow and SPUD (the
Arrangement Agreement ), which sets out the terms of the reverse take-over of Rainy Hollow by SPUD by way of a statutory plan of arrangement under Section 288 the
Business Corporations Act (British Columbia) (the
BCBCA ) involving Rainy Hollow, SPUD and the securityholders of SPUD (the ....

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