The Note, which was amended on
The Company would like to reiterate its dedication to operate in a fiscally disciplined manner while building long-term shareholder value. The Company will continue evaluating opportunities to eliminate or reduce its debt, and to reduce operational expenses, while striving to increase its revenue and gross margins.
Retail Location – Divestment
The Company has also successfully completed the sale of its last remaining retail asset (the “
Non-Brokered Private Placement
At market close on
The Company filed for price reservation based on the closing price per Common Share of
Closing of the Offering remains subject to the approval of the TSXV. All securities issued pursuant to the Offering will be subject to a statutory hold period lasting four months and one day following the closing of the Offering.
Warrant Extension
Further to the Company’s press release dated
About GTEC Cannabis Co
GTEC Cannabis Co cultivates, markets, and distributes the high-end cannabis products that consumers desire. The Company has four operational facilities licensed by
GTEC’s quality product offering is crafted from rare and unique cultivars. GTEC’s recreational cannabis brands include BLK MKT™, Tenzo™, Cognōscente™ and Treehugger™. The Company’s medical cannabis brand, GreenTec™, is distributed nationally to qualified patients through its GreenTec Medical website and various licensed partners.
To learn more about the Company or to access the most recent Corporate Presentation, please visit our website at www.gtec.co
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation. Forward-looking information is 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 information. The forward-looking information in this news release is generally identified by use of such terms and phrases as “intend,” “goal,” “strategy,” “estimate,” “expect,” “project,” “projections,” “forecasts,” “plans,” “seeks,” “anticipates,” “potential,” “proposed,” “will,” “should,” “could,” “would,” “may,” “likely,” “designed to,” “foreseeable future,” “believe,” “scheduled” and other similar expressions. Examples include statements that the Company will reduce its debt, reduce operational expenses or increase its revenue and gross margins; that the terms of the Offering will be approved by the TSXV; and that the Offering will occur on the terms currently anticipated.
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 and among other things, such risks include that the TSXV does not approve the terms of the Offering; the Company will maintain adequate capital resources and liquidity, including but not limited to, availability of sufficient cash flow, to execute the Company’s business plan (either within the expected timeframe or at all); there can be no assurances regarding potential effects of judicial or other proceedings on the Company’s business, financial condition, results of operations and cash flows; volatility in and/or degradation of general economic, market, industry or business conditions; compliance with applicable environmental, economic, health and safety, energy and other policies and regulations and in particular health concerns with respect to the use of cannabis; the anticipated effects of actions of third parties such as competitors, activist investors or federal, provincial, territorial or local regulatory authorities, self-regulatory organizations, plaintiffs in litigation or persons threatening litigation; changes in regulatory requirements in relation to the Company’s business and products; 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.
Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For additional information, please contact:Source:GTEC Cannabis Co. 1-800-351-6358 contact@gtec.co
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