GTEC Holdings Ltd. (TSXV:GTEC) (OTC:GGTTF) (“GTEC” or the “Company”), is pleased to provide an update on its wholly owned subsidiary, Spectre Labs Inc. (“Spectre Labs” or “Spectre”).
GTEC previously announced that it had acquired a warehouse located in Kelowna, B.C. for the purpose of submitting an application to the Office of Controlled Substances for a Dealer’s Licence. The site will be developed in a phased approach and will serve as a Good Manufacturing Practices (GMP) grade facility with extraction, formulation, compounding and export capabilities to support GTEC’s Licensed Producers and the global medical market. GTEC also intends to utilize this facility to manufacture edible products that are expected to be incorporated into Health Canada’s regulatory framework in 2019. Upon Health Canada approval of phase one, the facility will be capable of producing up to 24,500 grams of cannabis oil per day (equivalent to more than 8,500 kilograms per annum), with capacity to increase production through future phased development.
Spectre Labs’ Acceptance of Application for a Controlled Drugs and Substances Dealer’s Licence was received by Health Canada on July 07, 2018 and accepted for review on July 17, 2018. From the time of receipt of a complete application, the Controlled Drugs Section commits to a service delivery standard of 180 business days for the issuance of a decision on an application for a new Dealer’s Licence for controlled substances.
“We are excited to be making positive progress at Spectre, which will be a cornerstone facility within GTEC’s vertically integrated cannabis supply chain. Given the success and timeline of Zen Labs receiving its license in a timely manner, we remain confident that Spectre’s licensing process will reflect our regulatory team’s efforts.” stated Norton Singhavon, Chairman & CEO of GTEC. “The Spectre facility will allow us to compete in a broad range of value-added cannabis market segments”.
About GTEC Holdings Ltd.
GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. The Company also has a number of retail cannabis initiatives in Western Canada. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Tumbleweed Farms Corp., Falcon Ridge Naturals Ltd., Alberta Craft Cannabis Inc., Grey Bruce Farms Inc., Zenalytic Laboratories Ltd. and Spectre Labs Inc. GTEC is a publicly-traded corporation based in Kelowna, British Columbia. The Company’s shares are listed on the TSX Venture Exchange and OTC Pink.
On behalf of the board,
Founder, Chairman & CEO
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.
The securities of the Company 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 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. 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. 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.
SOURCE GreenTec Holdings
For further information: please contact: GTEC Holdings Ltd., 1-800-351-6358, email@example.com
In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.
Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.
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Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, would like to provide the following dial-in information for the Company’s upcoming Annual and Special Meeting (the “Meeting”) scheduled to be held at 11:00 a.m. Eastern Daylight Time on April 12, 2021. Shareholders and proxyholders may access the Meeting via teleconference by dialing 647-723-3984 or 1-866-365-4406 from Canada or the United States, then entering participation code “8487744” followed by the pound (“#”) sign.
In consideration of the COVID-19 pandemic and the recent restrictions imposed by the Ontario Provincial Government, shareholders and proxyholders will only be able to attend the Meeting via teleconference and will not be permitted to attend the Meeting in person at the address provided on the Notice of Annual and Special Meeting of Shareholders.
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