KELOWNA, BC, Sept. 27,
2018 /CNW/ - GTEC Holdings Ltd. ("GTEC" or the
"Company") (TSXV: GTEC) (OTCPK: GGTTF) is pleased to
announce the completion of a Letter Agreement (the
"Agreement") to collaborate on cannabis spray products for
the Canadian market with Integrated Cannabis Company, Inc.
("Integrated Cannabis") (CSE: ICAN, OTCQB: ICNAF), a health
and lifestyle products company utilizing advanced delivery systems
and formulations including oral sprays.
The Agreement allows for the co-development and marketing of
novel spray products, utilizing proprietary nanotization technology
containing both Cannabidiol (CBD) and/or Tetrahydrocannabinol (THC)
in the Canadian medicinal and recreational markets. The Agreement
is subject to the implementation of federal legislation in
Canada and corresponding
provincial and territorial legislation that permits the
distribution and sale of certain formats of cannabis products,
including without limitation to sprays.
Over the coming weeks, the companies will engage with their
marketing and distribution teams to streamline the logistics of
developing and ultimately introducing products to the Canadian
marketplace.
"We are very excited to be working with Integrated Cannabis and
their unique line of the X-SPRAY™ products. As we continue to push
towards positioning ourselves as a preeminent cannabis company it
is critical to diversify our product offering with formulations
that are both novel and offer alternative delivery methods," said
Mr. Norton Singhavon, CEO of GTEC.
"Partnering with a Canadian Licensed Producer has been a major
goal of ours in order to facilitate the expansion of our product
line into legal, established marketplaces. The GTEC team is an
ideal partner given their status as a LP and their tenure in the
cannabis industry which provides a great alliance for our
innovative product line," said Mr. John
Knapp, CEO of Integrated Cannabis.
The companies aim to have a definitive agreement in place by
October 31, 2018.
About Integrated Cannabis Company, Inc.
Integrated
Cannabis Company, Inc. is comprised of dedicated scientists and
product engineers who are passionate about health and creating
health and lifestyle products utilizing advanced delivery systems
and formulations. For more information, please visit the company's
website at: www.x-sprays.com.
About GTEC
GTEC was founded in 2017 to capitalize on
opportunities in the nascent and rapidly growing legal cannabis
industry. GTEC is focused on growing premium quality craft
cannabis in purpose-built indoor facilities. The Company also
has a number of retail cannabis initiatives in Western
Canada. GTEC currently holds a 100% interest in GreenTec
Bio-Pharmaceuticals Corp., Tumbleweed Farms Corp., Falcon Ridge
Naturals Ltd., Alberta Craft Cannabis Inc., Grey Bruce Farms Inc.,
Zenalytic Laboratories Ltd. and Spectre Labs Inc. GTEC is a
publicly-traded corporation based in Kelowna, British Columbia. The Company's
shares are listed on the TSX Venture Exchange and OTC Pink
Sheets.
To view more about the company or to request our most recent
corporate presentation, please visit our website
at www.gtec.co.
On behalf of the board,
Norton Singhavon
Founder, Chairman & CEO
778-760-8288
ns@gtec.co
Michael Blady
Co-Founder & Vice President
604-720-3474
mb@gtec.co
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements are 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 statements. Such factors include, but are not
limited to: 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. 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. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE GreenTec Holdings