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KINGSVILLE, ON, Sept. 27, 2023 /CNW/ - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, announces the culmination of the commercialization process by launching its first two brands and SKUs which have been accepted by the Ontario Cannabis Store ("OCS") through the Winter 2023-2024 product call.
"Going to market with our own products has been part of our long-term strategy for the last few years. As we do with everything, we have been meticulous in every aspect of our go to market strategy. Our team has been hyper focused on finding cultivars that meet the ever-changing tastes of Canadian consumers," said Jamie D'Alimonte, CEO of Greenway. "We are excited that in short order we will be able to go into our local stores, and pick up Greenway branded product. To our shareholders, this was a promise we made, and it's a promise we have kept."
Greenway is introducing:
EPIC Cannabis Co, a craft whole flower brand which will bring new and exciting flower offerings from the vast Greenway Nursery catalogue. Beginning with a 7g package of Berry Sunset, a sought-after fruit driven cultivar that will deliver a unique value proposition for flower nerds and the general consumer alike.
And
MillRite a preroll and milled flower brand that targets the hard working value driven consumer. This first launch of the MillRite brand will include a 2x0.5g preroll sku that will feature Greenway's Lavender Haze, a beloved sativa leaning flower with notes of florals, cedar and citrus. MillRite positions itself as a product "For Those Who Grind".
"Over the past few years millions of grams of Greenway product has been consumed by Canadians from coast to coast through our partners.," said Carl Mastronardi, President of Greenway. "Greenway has a strong opportunity to offer a true value proposition to consumers; high quality at fair prices. We come from a blue collar region and we know that people who work hard want to buy products that both resonate with their values and leaves money in their wallet. We believe that MillRite fulfills that promise and then some."
"Having our own brands in market will have a strong impact on our top line revenue while also increasing our gross profits. We will continue to work closely with our B2B partners and provide them with top quality inputs." Said Darren Peddle, CFO. "Transitioning our business model to a hybrid of B2B and B2C has been a part of our long-term planning for a few years. This commercialization process is going to provide us more avenues to sell cannabis, increase revenues, increase gross profits, and increase Greenway's visibility as a brand to general consumers."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
About Greenway
Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on Greenway.ca and updates can be followed on Instagram, Twitter, Facebook, and LinkedIn.
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 and include statements regarding the Offering 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 September 3, 2021, a copy of which is available under the Company's profile at www.sedarplus.ca. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
SOURCE Greenway Greenhouse Cannabis Corporation
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Company Contact, Darren Peddle, Director and CFO, Greenway Greenhouse Cannabis Corporation, darrenp@greenway.ca, 1-519-712-0311