In the news.
GTEC Reports Third Quarter 2019 Results
KELOWNA, BC – October 9, 2019 – GTEC Holdings Ltd. announces it has reported its third quarter of fiscal 2019 results. As the Company continues its objective in developing purpose-built indoor operations to produce and distribute ultra-premium cannabis in Canada, it has remained committed to operating in a disciplined and fiscally responsible manner while delivering substantial revenue growth, combined with significant reductions in operating...
GTEC Strengthens Balance Sheet with $4 million Loan Repayment and Enters into Agreement to Divest of Cannabis Cowboy Shares
KELOWNA, BC – October 8, 2019 – GTEC Holdings Ltd. is pleased to announce that pursuant to the sale of certain assets, as previously announced on September 4, 2019 (the “Transaction”), between Cannabis Cowboy Inc (“CCI”) and Fire & Flower Inc., a wholly owned subsidiary of Fire & Flower Holdings Corp. (“FFHC”) (TSX:FAF), that...
Norton Singhavon Announces Filing of Early Warning Report for GTEC
KELOWNA, BC – September 26, 2019 – GTEC Holdings Ltd. announces that the Company’s Chief Executive Officer, Norton Singhavon has filed an early warning report (the "Report") under the Company's profile on SEDAR as summarized below. This press release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in...
GTEC Terminates Purchase of Canopy Growth Facility
KELOWNA, BC – September 18, 2019 – GTEC Holdings Ltd., a vertically integrated premium cannabis producer, announces that pursuant to a Purchase and Sale Agreement (the “PSA”) it had entered into with Canopy Growth Corp (TSX:WEED) (NYSE:CGC) on May 16th, 2019, as amended (see press release August 20th, 2019), that GTEC will not proceed with the completion of the transaction...
GTEC Subsidiary Cannabis Cowboy Announces the Sale of Certain Assets and $4 Million Debt Repayment to GTEC
KELOWNA, BC – September 4, 2019 – GTEC Holdings Ltd. is pleased to announce that its 25% owned subsidiary, Cannabis Cowboy Inc. (“CCI”), has signed a definitive agreement to sell assets relating to 8 of its non-operational retail store locations (the “Transaction”) to Fire & Flower Inc., (“Fire & Flower”) a wholly owned subsidiary of Fire & Flower Holdings Corp. (“FFHC”) (TSX:FAF)...
GTEC Provides Update on Acquisition of Canopy Growth Kelowna Cultivation Facility
KELOWNA, BC – August 20, 2019 – GTEC Holdings Ltd. is pleased to provide an update to its plans to acquire a cultivation facility located in Kelowna, British Columbia. On July 22, 2019 GTEC issued a news release regarding its plans to acquire a Kelowna cultivation facility from Canopy Growth Corporation (“Canopy Growth”) (TSX-V:WEED) (NYSE:CGC)...
Health Canada grants Cultivation, Processing & Medical Sales Licences to GTEC Subsidiary Tumbleweed Farms
KELOWNA, BC – August 19, 2019 – GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), a vertically integrated premium cannabis producer, is pleased to announce that its wholly-owned subsidiary, Tumbleweed Farms Inc. (“Tumbleweed”), was granted Standard Cultivation, Standard Processing and Medical Sales Licences, pursuant to...
GTEC Appoints Kendra Blackford as Interim CFO
KELOWNA, BC – August 13, 2019 – GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) would like to announce that effective immediately, Mr. Jeremy Wright will step down as Chief Financial Officer to pursue other opportunities. Mr. Wright will remain a consultant to GTEC on its corporate finance initiatives. The Company will commence a review process internally and externally...
GTEC Announces Q2 Fiscal Results
KELOWNA, BC – July 30, 2019 – GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to report its financial results for the second quarter, period ended May 31, 2019: Key Financial Highlights: Alberta Craft Cannabis (“ACC”) sold 18,569 grams of cannabis at an average price of $5.85 per gram for total revenue of $108,000; Gross margin increased to $75,000 before fair value...
GTEC Subsidiary Granted Processing and Medical Sales Licences by Health Canada
KELOWNA, BC – July 29, 2019 – GTEC Holdings Ltd., a vertically integrated ultra-premium cannabis producer, is pleased to announce that its wholly-owned subsidiary, Alberta Craft Cannabis Inc. (“ACC”), has received both a Standard Processing and a Sale for Medical Purposes licences from Health Canada. These licenses are in addition to the Standard Cultivation licence ACC...
GTEC Enters into Agreement to Acquire Facility in Kelowna BC
KELOWNA, BC – July 22, 2019 – GTEC Holdings Ltd. is pleased to announce that GTEC and Canopy Growth Corporation entered into a purchase and sale agreement (the “PSA”) pursuant to which GTEC, subject to certain conditions set out below, will acquire the second expansion site in Kelowna, BC (the “Facility”) of Canopy Growth (the “Transaction”). Assuming completion of the Transaction and receipt of a cultivation...
GTEC Announces Voting Results of Annual and Special Meeting of Shareholders
KELOWNA, BC – July 15, 2019 – GTEC Holdings Ltd. is pleased to announce that it held its annual and special meeting of shareholders (the “Meeting”) on Friday, July 12, 2019, at which all director nominees were unanimously elected as directors of the Company and all other resolutions were passed as set out below. 42,220,329 shares were represented at the meeting, all voted...
Health Canada Grants Cultivation License to Grey Bruce Farms, Doubling GTEC's Production Capacity
KELOWNA, BC – July 8, 2019 – GTEC Holdings Ltd. (TSX-V: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Grey Bruce Farms (“Grey Bruce”) has been granted a Standard Cultivation License (the “License”) by Health Canada. Grey Bruce is an automated, state-of-the-art facility located in Kincardine, Ontario...
GTEC Completes Health Canada Sales License Inspection at Alberta Craft Facility
KELOWNA, BC – June 27, 2019 – GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”), a vertically integrated premium cannabis producer, is pleased to announce that its wholly-owned subsidiary, Alberta Craft Cannabis Inc. (“ACC”) has recently completed a Health Canada license inspection. ACC had requested and scheduled the recent inspection...
GTEC Appoints Former CEO of Shoppers Drug Mart and Former Chairman of ALDO to Board of Directors
KELOWNA, BC – June 10, 2019 – GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”), a vertically integrated premium cannabis producer, is pleased to announce that it has appointed Jurgen Schreiber, the former CEO of Shoppers Drug Mart and former Chairman of ALDO, to its Board of Directors as of June 10, 2019...
GTEC Completes Build-out at Grey Bruce Facility and Submits Evidence Package to Health Canada
KELOWNA, BC – May 21, 2019 – GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that its wholly owned subsidiary Grey Bruce Farms (the “Facility”) has completed its build-out and submitted its Affirmation of Readiness and Video Evidence Package (the “Evidence Package”) to Health Canada. The Evidence Package...
GTEC Provides Shareholder Update on Health Canada Changes to Cannabis Licensing
KELOWNA, BC – May 9, 2019 – GTEC Holdings Ltd. (TSX-V:GTEC) (OTC:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to provide management commentary and shareholder updates on the recently announced Statement from Health Canada regarding changes to cannabis licensing. Background: On May 8, 2019, Health Canada announced certain changes to align the approach...
GTEC Provides Retail Initiatives Update
KELOWNA, BC – May 7, 2019 – GTEC Holdings Ltd. (TSX-V:GTEC) (OTC:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that it has completed the previously announced acquisition (the “Acquisition”) of 1203648 B.C. Ltd. (“RetailCo”) for an aggregate purchase price of $2,113,000 (the “Purchase Price”). RetailCo is in the process of obtaining municipal and provincial approvals (collectively, the “Approvals”) to operate a non-medical...
GTEC Announces Increasing Demand for its Premium Cannabis and Provides 2019 Sales Projections
KELOWNA, BC – April 24, 2019 – GTEC Holdings Ltd. (TSX-V:GTEC) (OTC:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that it has been receiving significant demand for its premium cannabis, and provides insight into its current sales initiatives and projections. Summary of sales: $5.86 average selling price of flower shipped in bulk to wholesale buyers, Products are re-packaged...
GTEC Holdings Acquires Cannabis Retail Store Location in Vancouver BC
KELOWNA, BC – April 15, 2019 – GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that it has entered into a definitive agreement dated April 10, 2019 (the “Definitive Agreement”), between GTEC, GreenTec Retail Ventures Inc., a wholly owned subsidiary of GTEC (“GRV”), and the shareholders (the “Vendors”) of 1203648 B.C. Ltd. (“RetailCo”), pursuant to which GRV will acquire all the issued and outstanding...