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GTEC Holdings Ltd
Symbol GTEC
Shares Issued 140,723,195
Close 2021-02-02 C$ 0.24
Market Cap C$ 33,773,567
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GTEC Holdings opens GreenTec e-commerce store

2021-02-02 11:05 ET - News Release

Mr. Norton Singhavon reports

GTEC LAUNCHES GREENTEC MEDICAL CANNABIS E-COMMERCE WEBSITE

GTEC Holdings Ltd. has launched its GreenTec medical cannabis e-commerce website.

The launch of the website allows medical patients authorized by Health Canada to purchase cannabis products directly from GTEC. Products will be cultivated and handcrafted at GTEC's cultivation facilities: Alberta Craft Cannabis, Grey Bruce Farms and Tumbleweed Farms. The products will be packaged to order by Alberta Craft Cannabis and sold under the flagship medical brand GreenTec. Authorized medical patients will have access to GTEC's product portfolio for $6 to $10 per gram. Initial product offerings (in 3.5-gram and seven-gram formats) include:

  • Cherry Punch;
  • Watermelon Mojito Zkittlez;
  • Wedding Crasher;
  • Alien SinMint Cookies;
  • Peanut Butter MAC;
  • Dosi-Pie.

The company will continue to explore ways of increasing its product range through its own internal production, introducing new cultivars and larger formats. The company would like to welcome all interested medical patients to visit the GreenTec Medical website or to contact the medical cannabis manager, Melissa Scheuerman, at 587-759-2552 or melissa@albertacraft.com.

"After receiving overwhelming interest and demand from medical patients who wanted to purchase our products directly, we listened," said Norton Singhavon, founder and chief executive officer of GTEC Cannabis. "The GreenTec Medical platform will enable medical patients to have direct access to our high-quality handcrafted products at competitive industry prices. We would like to thank all consumers who have expressed interest in purchasing our products and trust that we will exceed your expectations."

"It has been an exciting journey since I was brought on by the GTEC team to launch and manage the GreenTec Medical platform," said Melissa Scheuerman, medical cannabis manager at GreenTec Medical/Alberta Craft Cannabis. "I look forward to working with our team to provide the highest level of product quality and support to our consumers."

The company expects that the launch of its GreenTec Medical platform will enable GTEC to capture higher gross margins by selling direct to consumers and avoiding the high markups associated with recreational supply chains. The company believes that the business unit will complement its core business of recreational cannabis use and provide fast and reliable access to quality handcrafted products at competitive prices to authorized patients across the country.

About GTEC Cannabis Co.

GTEC Cannabis cultivates, markets and distributes the high-end cannabis products that consumers desire. The company has four operational facilities licensed by Health Canada and is currently distributing cannabis through medical and recreational sales channels.

GTEC's quality product offering is crafted from rare and unique cultivars. GTEC's recreational cannabis brands include BLK MKT, Tenzo, Cognoscente and Treehugger. The company's medical cannabis brand, GreenTec, is distributed nationally to qualified patients through its GreenTec Medical website and various licensed partners.

GTEC is a publicly traded corporation listed on the TSX Venture Exchange (GTEC), OTCQB Venture Market (GGTTF) and Frankfurt Stock Exchange (1BUP). The company's headquarters is located in Kelowna, B.C., and GTEC has operations in British Columbia, Alberta and Ontario.

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