02:29:11 EDT Tue 21 May 2024
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Greenway Greenhouse Cannabis Corp
Symbol GWAY
Shares Issued 131,314,524
Close 2024-04-25 C$ 0.34
Market Cap C$ 44,646,938
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Greenway facility receives int'l cannabis accreditation

2024-04-26 10:41 ET - News Release

Mr. Jamie D'Alimonte reports

GREENWAY RECEIVES INTERNATIONAL CANNABIS ACCREDITATION

Greenway Greenhouse Cannabis Corp.'s cultivation facility located in Leamington, Ont., has received CUMS-GAP (Control Union Medical Cannabis Standard Good Agricultural Practice) and GACP (Good Agricultural and Collection Practice) certification. This demonstrates that the facility meets strict international standards, providing the company a way to distribute its product internationally.

The company has entered into conversation with multiple different international cannabis purchasers, including current wholesale customers that already have established international sales routes, opportunities and demand.

"Receiving these certifications opens up a whole new world of opportunities for Greenway. We have been talking to companies that export into multiple countries around the world, who are eager to work with us to bring Greenway's cannabis to the global market," said Jamie D'Alimonte, chief executive officer of Greenway. "With our most recent expansion, we are able to scale up production to meet any new demand for our product internationally. These new sales opportunities should help us increase our revenue, gross margins, and be a key cog in achieving true profitability."

"Canadian medical cannabis is highly regarded, and in great demand around the world," said Carl Mastronardi, president of Greenway. "The export market offers new sales routes for our high-quality products, which we believe may lead to Greenway receiving a higher average sales price than the current domestic market will support. Our goal is for international sales to becomes a regular and significant part of our revenue makeup."

Greenway's cultivation facility is designed for high-quality, low-cost production, and has an annual cultivation capacity of 24,000 kilograms. The CUMS-GAP certificate and GACP compliance certificate follows the World Health Organization and European Medicines Agency GACP guidelines, with the certification being completed through Control Union. These certifications mean that all cannabis that begins to be grown, as of April 17, 2024, meets the criteria to be distributed to certain countries outside Canada.

About Greenway Greenhouse Cannabis Corp.

Greenway is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ont., and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada.

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