GreenTec Holdings Ltd. (“GTEC”) is pleased to announce the commencement of cultivation and rebranding of its wholly owned Licensed Producer subsidiary in Edmonton, Alberta. Subsequently, GrenEx Pharms Inc. will hereafter operate as Alberta Craft Cannabis Inc., in order to foster a further alignment with GreenTec’s focus on producing premium quality craft cannabis. Alberta Craft Cannabis recently received its initial shipment of genetics earlier this month, and has since then commenced cultivation at the facility, with a view to acquiring a Sales License, from the Office of Medical Cannabis in a timely manner.

“We are proud to have commenced cultivation at Alberta Craft Cannabis” said Norton Singhavon, Chairman & CEO of GreenTec Holdings.  “This is an important milestone on our mission to produce and market premium quality craft cannabis for the Canadian marketplace. We will continue working diligently to complete the construction and licensing of our other facilities, in our quest to become one of Canada’s leading vertically integrated cannabis companies”.


Director of Quality Assurance – Stefan Sarachie

GreenTec is pleased welcome Stefan Sarachie as Director of Quality Assurance. Stefan is a quality management specialist with 17 years of experience in the food & beverage industry. His areas of expertise include the development and implementation of food safety, quality assurance, quality control and quality system programs. Stefan has extensive knowledge of Health Canada, CFIA (Canadian Food Inspection Agency), FDA (Food and Drug Administration), USDA (United States Department of Agriculture), FSMA (Food Safety Modernization Act) and EU regulations.

Prior to joining GreenTec, Stefan worked at Sun-Rype Products, where he developed, implemented and maintained food safety and quality programs as required by government regulations, customer requirements and SQF (Safe Quality Foods) Certification for GFSI (Global Food Safety Initiative).

Director of Strategic Operations – Chris Williams

GreenTec is pleased welcome Christopher Williams as Director of Strategic Operations. Chris is a former police officer and supervisor with the Royal Canadian Mounted Police (RCMP) with over 25 years of policing experience.  He has a broad range of police experience spanning drug enforcement, intelligence operations, organized crime, criminal apprehension, human smuggling and K9 management.  Chris has worked with partner law enforcement agencies across Canada and internationally.

Chris has extensive experience in operational leadership, project management and strategic planning.  He has a passion for supporting the development of programs to assist with the opioid epidemic and in assisting police and military veteran’s, particularly those suffering with Post Traumatic Stress Disorder (PTSD).   Chris was also nominated for a federal government award for his work with aboriginal youth.

Black Birch Amalgamation

As previously announced on March 13, 2018, GreenTec and Black Birch Capital Acquisition III Corp. (TSXV: BBC.H) (“Black Birch”) have entered into a definitive amalgamation agreement with respect to the proposed acquisition by Black Birch of all of the issued and outstanding shares of GreenTec by way of a three cornered amalgamation. Listing is conditional on GreenTec meeting all regulatory and listing requirements of the TSX Venture Exchange. Subject to meeting all of these necessary requirements, the company anticipates to be listed under symbol “GTEC” in Q2 of 2018

Tumbleweed Farms

Tumbleweed farms has received its building permit from the Thompson Okanagan Regional District and has commenced construction on it’s purpose built 10,000 square foot building. The exterior building has been delivered on site and the building foundation is in the process of being completed.

On behalf of the board (and Happy 420!),

Norton Singhavon
Chairman & CEO

Michael Blady
Co-Founder & Vice President

About GreenTec

GreenTec is a private corporation based out of Kelowna, British Columbia. GreenTec’s mission is to identify and consolidate licensed producers of craft cannabis brands, which GreenTec believes will be the purveyor to the retail market in Canada and internationally. The Company currently holds over 23,000,000 square feet of expansion capabilities throughout Canada and holds a 100% interest in each of GreenTec Bio-Pharmaceuticals Corp., Grey Bruce Farms Incorporated, Zenalytic Laboratories Ltd., Falcon Ridge Naturals Ltd., Tumbleweed Farms Corp., and Alberta Craft Cannabis Inc. (formerly Grenex Pharms Inc.). Additional information concerning GreenTec is available on the Company’s website at www.gtec.co.

All information contained in this news release with respect to GreenTec was supplied by GreenTec for inclusion herein, and Black Birch and its directors and officers have relied on GreenTec for any such information.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the Transaction, the Subscription Receipt Offering or the Offering will be completed as proposed or at all.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction, the Subscription Receipt Offering or the Offering and has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities of Black Birch have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of and the completion of the Transaction, the Subscription Receipt Offering and the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Black Birch disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Source: www.gtec.co

Cannabis Market Update: Q3 2020 in Review

Click here to read the previous cannabis market update.

During the first few months of investment time in 2021, cannabis faced some volatility alongside optimism about federal changes in the most important market for the drug.

The cannabis business found its stride during Q1 thanks to policy change signals and consolidation.

To find out more, the Investing News Network (INN) asked experts about progress in the market during the first major period of the new year, and which developments investors should watch out for.

 

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Cannabis market update: New York and US potential boost operations

New York state’s legalization of recreational cannabis was a huge Q1 announcement that added pressure to the US federal government when it comes to cannabis policy, said George Mancheril, co-founder and CEO of Bespoke Financial, a debt financing business with a particular focus on servicing cannabis businesses.

“It’s going to add to the chorus of voices in the federal scene to basically move sooner rather than later,” he explained to INN.

Following the US election in 2020, the momentum for cannabis businesses went on the upswing, as did company valuations, with the idea of expansion at the heart of it all, according to Mancheril.

Before starting Bespoke Financial, Mancheril learned from traditional investment banks, working in the lending, fixed income and debt markets with Goldman Sachs (NYSE:GS) and Guggenheim Partners.

Nawan Butt, portfolio manager with Purpose Investments, agrees with Mancheril. The financial expert told INN the ongoing legalization process seen in the US market is leading to expansion.

“It’s becoming more of a national move, then small pockets of proliferation. That’s very exciting about cannabis right now,” said Butt, who co-manages the Purpose Marijuana Opportunities Fund (NEO:MJJ).

This proliferation effect is causing a change in valuations and enthusiasm for US-based operations. Mancheril told INN that by the end of Q1, multi-state operators (MSOs) had raised approximately US$3.3 billion.

The cannabis lender said he sees the industry as having grown from the woes of 2019; it is now undergoing a return to form as excitement about the US opening up increases.

The expert explained that there is likely to be a windfall of capital in the wake of major federal changes in US cannabis policy, although the timeline for these changes is becoming increasingly hard to predict.

Leading up to that capital influx, Mancheril said he wants to see operators really drill down on the value of desired assets and whether they make sense.

“What I’d hope is that we continue to see bullish sentiment, but with some measure of responsibility, and let’s not just get over ahead of ourselves,” Mancheril told INN. “The idea is let’s minimize the volatility and continue growing responsibly.”

 

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As far as struggles go, Butt explained that the cannabis industry has cemented itself as a growth-type sector, and as such there are macro pressures affecting the way these assets operate.

“We’ve seen this preference for cash flows at growth in the current or in the near future, rather than in the far future, and that’s what we’re seeing as far as valuations go in the broad market,” Butt said.

Cannabis market update: Volatility continues to rule as industry foundations build

Despite the industry’s potential and the growing pains it has gone through as a whole in both the US and Canada, volatility remains a key factor in the cannabis investment scene.

Butt explained that the current shareholder base, which is dominated by hedge funds and retail investors, still lacks enough institutional support to avoid the day-to-day volatility cannabis has come to be known for.

These two investor groups, Butt said, can be easily spooked and excited by the news of the day when it comes to their investments.

“A lot of these institutions’ strategies are not about short-term profits, but they’re about long-term sustainability of the businesses themselves,” Butt said.

“That’s why you see a lot of volatility in the space, and that’s essentially what we’ve seen over the past, I’d say, three to two months as well,” he added.

That means investors shouldn’t expect an end to volatility anytime soon.

“It’s not about whether we continue to expect volatility, because we do,” Butt said. “We really think that the volatility will be taken out when the shareholder base becomes more institutional, but it’s really about understanding why there is volatility in the first place.”

Cannabis market update: Canadians talk up US business, but questions remain

A surge of mergers and acquisitions has taken over the Canadian cannabis sector recently as more producers see potential in America.

One of the biggest announcements in this regard came when Organigram Holdings (NASDAQ:OGI,TSX:OGI) secured a C$221 million investment deal from British American Tobacco (NYSE:BTI,LSE:BATS).

Using the funds, the two will work in tandem to develop new branded products designed for the international stage, including in the US. Organigram CEO Greg Engel previously told INN that the US represents a critical opportunity for Canadian companies, but the entry point isn’t as clean as it could be.

 

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While the long-term potential may be exciting for investors, Butt told INN he’s still unsure how the approach will work for Canadian companies.

The Purpose Investments expert said there will be plenty of space for the biggest Canadian names to pursue US market entries, beyond the initial hemp-derived CBD moves some operators have mde, since the US represents the biggest market in the world.

“But there’s just way too many unknowns right now to say exactly what that participation is going to look like, or when that participation will happen,” he said.

“What we do know is that currently the US MSOs are in a wonderful sort of position to expand on their market leadership that they have. And it will be tough for Canadians to come in and compete with them,” Butt said.

Canadian players still retain the upper hand at times in terms of valuation, which is confusing for both Butt and Dan Ahrens, chief operating officer and portfolio manager at AdvisorShares.

“The performance in quarterly earnings of US companies has been rather spectacular. They’ve knocked it out of the park in most instances,” Ahrens told INN.

Butt praised the recent performance reports from MSOs across the board, pointing to year-over-year growth lines and projections for continued positive performance. In his view, share prices still don’t reflect company value. “Those are really being discounted at this point,” Butt told INN.

“We’ve seen the Canadian licensed producers be really hot stock performance-wise, outpacing the US (MSOs), and I’ll say it’s rather nonsensical to me,” said Ahrens, who oversees the AdvisorShares Pure Cannabis ETF (ARCA:YOLO) and the recently launched AdvisorShares Pure US Cannabis ETF (ARCA:MSOS).

Cannabis market update: Investor takeaway

The cannabis investment proposition finds itself at an interesting moment in time, as the entire sector eagerly awaits confirmation in the US at the federal level.

While for the Canadian companies waiting on the sidelines, this development may feel like a major necessity to address current financial struggles, for US-based operators, the heat around the corner could represent future positivity for already thriving operations.

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All interested parties can join the conference call by dialing 1-888-231-8191 or 1-647-427-7450, conference ID: 4880609. Please dial in 15 minutes prior to the call to secure a line. The conference call will be archived for replay until May 20, 2021 . To access the archived conference call, please dial 1-855-859-2056 and enter the encore code 4880609.

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Appointment of Dr. Kelmendi, Assistant Professor of Psychiatry at Yale University and co-founder of the Yale Psychedelic Science Group, brings another experienced medical professional to Lobe’s advisory team.

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce the appointment of Benjamin Kelmendi, MD, Assistant Professor of Psychiatry at Yale University School of Medicine, to its Scientific Advisory Board.

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Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or ” Ayurcann “), a Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, is pleased to unveil further details of its Phase 2 expansion plans.

Ayurcann has commenced trading on the Canadian Securities Exchange (” CSE “) on April 8, 2021 and subsequently announced a private placement of up to $500,000 (” Financing “), as per the Company’s press release dated April 12, 2021. The proceeds of the Financing are intended to be used to further pursue Phase 2 of the expansion of the production capacity of the Company’s Pickering facility.

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