"This new license will complement Greenway's B2B business model by allowing the company to provide value-added processing services, as well as allow Greenway to bring its own products to market," said Jamie D'Alimonte, CEO of Greenway. "Having the ability to consumer package cannabis will create a new revenue segment with greater gross margins."
"After seeing the issues that happened early on in cannabis legalization, we wanted to prove we could grow a great product at sustainably low prices before trying to take on creating a final product." Said
"Our goal with the processing license is to provide additional services to current customers, but also to maximize revenue for a portion of our new growing space that will be ready for production soon. Greenway is increasing from a 6,000 to a 24,000 KG annual production capacity, and this is perfect timing to now have the ability to consumer package with the imminent expansion," said
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.
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, including statements regarding the sale of the greenhouse and the likelihood of closing the sale pursuant to the terms of the Purchase Agreement, 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
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