GreenSpace Brands Inc. announces that it has signed a definitive investment agreement (the "Agreement") with PenderFund Capital Management Ltd. ("Pender") which, among other things, alters the terms of the Company's previously announced and amended non-brokered private placement (the "Private Placement") and grants Pender certain rights to acquire a control position in the Company, including the right to appoint a majority of the Company's board of directors. Pender's control position and the related restructuring of the board will occur in two stages. At the closing of the first tranche of the Private Placement, it is anticipated that Pender will acquire up to 19.9% of the company's outstanding common shares, four (4) members of the company's current board of directors will resign and three (3) new directors nominated by Pender will be appointed. One of Pender's nominees, Paul Henderson, will also be appointed as Executive Chairman of the Company. Mr. Henderson brings over 30 years of experience in the food industry including serving as CEO of Golden Boy Foods until 2015. Subject to receipt of TSX Venture Exchange approval and the approval of the company's disinterested shareholders authorizing Pender's control position, Pender will acquire the balance of Shares in the Private Placement not taken up by other investors, and one additional director of the company's current board will resign. On completion of the proposed transaction, the company's board of directors will be comprised of five directors, three of whom will have been appointed by Pender.