GTEC Holdings Ltd. (TSXV:GTEC, OTCQB:GGTTF, FRA:1BUP) (“GTEC” or the “Company”), a vertically integrated premium cannabis producer, is pleased to announce that its wholly-owned subsidiary, Tumbleweed Farms Inc. (“Tumbleweed”), was granted Standard Cultivation, Standard Processing and Medical Sales Licences, pursuant to the Cannabis Act and Regulations by Health Canada on August 16, 2019.

With the licensing of Tumbleweed, management expects the following forecasts across the organization’s three operational cultivation facilities:


  • Estimated Annual production of 4,000 kg of flower and 1,000 kg trim
  • GTEC to achieve positive cash flow in the near future, upon Tumbleweed and Grey Bruce entering into full production and sales

GTEC is currently implementing its new cultivars into Alberta Craft Cannabis (“ACC”) and will transition its sales efforts from B2B wholesale, to Provincial & Territorial adult-use supply chains and direct to medical patients, with the expectation that its average selling price will increase. The Company anticipates the completion of two more facilities (GreenTec Bio-Pharma and 3PL) in the near future, which is expected to increase the organization’s production output in 2020.

Within the most recent six weeks, the Company has successfully executed on accomplishing all three of its cannabis licensing objectives for 2019, which include the following:

  • Standard Cultivation Licence at Grey Bruce Farms – July 5, 2019
  • Standard Processing and Medical Sales Licence at Alberta Craft Cannabis – July 26, 2019
  • Standard Cultivation, Processing and Medical Sales Licence at Tumbleweed Farms – August 16, 2019

“We are incredibly proud of the dedication and commitment of our subsidiaries in accomplishing the most recently issued licences,” said Norton Singhavon, GTEC Founder Chairman and CEO. “As the organization progresses in the direction of profitability, we will persevere to ensure that Tumbleweed and Grey Bruce become cash flow positive in the near future, while striving to complete the build-outs of GreenTec Bio-Pharma and 3PL.”

In accordance with the Cannabis Act and Regulations, Tumbleweed has immediately commenced cultivation of cannabis plants from a portfolio of high-end cultivars (more commonly known as genetics). Management believes that its combination of unique genetics and experienced cultivation techniques will create a long-term sustainable competitive advantage for the Company and provide resistance to overall price compression.

Tumbleweed is a purpose-built cultivation facility located in Chase, British Columbia. This facility was designed, constructed and equipped in a manner intended to optimize its ability to produce the highest quality cannabis flower. The initial phase of the facility is 10,000 sq. ft. and is projected to produce 1,000 kg of cannabis flower annually, with significant expansion capabilities.

About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and currently holds the following licences issued by Health Canada pursuant to the Cannabis Act and Regulations; three Standard Cultivation licences estimated to produce 4,000 kg of indoor flower annually, two Standard Processing licences (for adult-use sales into the Provincial supply chains), two Medical Sales licences (for direct to medical patients), Standard Processing (for extraction), and Analytical Testing.

The management team is comprised of a diverse skill set sourced from leading global food & beverage, CPG and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. GTEC’s retail division is pursuing licensing for recreational cannabis stores across Western Canada.

GTEC’s genetic portfolio is comprised of over 30 unique cultivars that have been developed through a comprehensive phenotyping process, which is expected to deliver a sustainable competitive advantage and provide favourable gross margins. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT™, Tenzo™, GreenTec™, Cognōscente™ and Treehugger™.

GTEC is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.

To view more about the company or to download our most recent corporate presentation, please visit our website at www.gtec.co

On behalf of the board,
Norton Singhavon
Founder, Chairman & CEO

Michael Blady
Co-Founder & Vice President

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. 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, where applicable; and the state of the capital markets. 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. For instance, there can be no assurance that the Company’s overall annual production will increase to 4,000 kg of flower and 1,000 kg of trim; that GTEC will achieve positive cashflow; that the Company’s facilities will enter into full production, output and sales; that GTEC will achieve a weighted average selling price of $5 per gram between both flower and trim; that ACC will successfully transition its sales efforts from B2B to wholesale; that ACC’s average selling price of flower and trim will increase; that GreenTec Bio-Pharma and 3PL facilities (the “Facilities”) will be completed; that upon completion of the Facilities, the Company’s annual production output of flower and trim will increase;  that Tumbleweed will be revenue generating; that Tumbleweed will be able to produce the highest quality cannabis flower; that the Company’s genetics and cultivation techniques will create a sustainable competitive advantage for the Company; that Tumbleweed will be able to produce 1,000 kg of cannabis flower annually. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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.

Click here to connect with GTEC Holdings Ltd. (TSXV:GTEC) (OTC:GGTTF) for an Investor Presentation.

Source: www.globenewswire.com

As “hard seltzer” beverages have sustained their popularity among consumers aged 21+ in the United States, the Company has developed a variant of its Fit Soda™ functional beverage product infused with fermented alcohol to compete in this segment, which in 2020 had approximately USD $4.1 billion in sales, with Goldman Sachs estimating that the hard seltzer market could reach USD $30 billion in sales by 2025 1 . With no sugar content and 15 calories per 12 oz / 355 ml serving, Fit Soda™ Hard could be an appealing alternative to current market leaders in the hard seltzer category. The Company intends to launch Fit Soda™ Hard in Arizona, Colorado, New Mexico, and Utah beginning in June 2021.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that in June 2021 it intends to launch Fit Soda ™ Hard as a “flanker” brand to its existing Fit Soda ™ functional beverage product line. Launched on July 19, 2019 and dubbed by Koios as the “Anti-Soda”, Fit Soda ™ is a sugar-free carbonated beverage with zero calories, containing ingredients to include branched-chain amino acids and electrolytes, which have been shown to improve various aspects of one’s well-being. Fit Soda ™ has enjoyed considerable success to date, including the addition of all four flavours to Walmart’s U.S. online store and 461% growth in order volume from a Wisconsin distributor during the period of May 2020 through June 2020. Between the sustained performance of Fit Soda ™ in the United States in its second year and impressive popularity of canned “hard seltzer” among consumers aged 21+ in the alcoholic beverages category, the Company has identified a promising opportunity to produce a variant of Fit Soda™ infused with fermented alcohol produced using its in-house canning line located in the Denver, Colorado area.

Keep reading... Show less

Centurion to acquire a Disruptive Water-Soluble Cannabinoid Technology Platform Delivering Rapid Onset, Increased Bioavailability, Premium Taste Profiles and Highly Competitive Cost Structure

Centurion Minerals Ltd. (TSXV: CTN) (FSE: XJCB) (“Centurion” or the “Company”) is pleased to announce that it has entered into an Amalgamation Agreement dated February 17, 2021 (the “Agreement”), with HAI Beverages Inc. (“HAI”), whereby Centurion will acquire 100% of the outstanding shares and assets of a wholly-owned subsidiary of HAI (“NewHAI) in exchange for common shares of Centurion (the “Acquisition” or “Transaction”). NewHAI holds all material assets of HAI and the Acquisition will constitute a reverse take-over (“RTO”) of the Company.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less