"This expansion is the final step of a year long process, expanding Greenway's capacity to 24, 000 KG of annual production," said Jamie D'Alimonte, CEO of Greenway. "I want to thank our team for all of the hard work that has gone into this. The new licensed space will provide Greenway with enough capacity to accommodate both our large and small B2B customers that have been approaching us with increased demand for our products, as well as provide us with the ability to launch our own B2C brands later this year."
"Greenway has been an industry leader in cost of production, all while operating with only 1 acre of cultivation space. Expanding to 4 acres will achieve further cost efficiencies, establishing Greenway as the lowest cost cultivator in the industry," said
About Greenway
The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements, including statements regarding the sale of the greenhouse and the likelihood of closing the sale pursuant to the terms of the Purchase Agreement, and the intended use of proceeds thereof, and the Company's beliefs, plans, expectations, future, strategy, objectives, goals and targets, the development of future operations, and orientations regarding the future as of the date of this news release. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, and includes those risks described in the Company's final prospectus dated
SOURCE
© Canada Newswire, source