GTEC Holdings Ltd. (GTEC.V) (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 submission is the final step required in order to demonstrate and confirm to Health Canada that the Facility is fully built, operationally ready and in compliance with the Cannabis Act and Regulations, prior to being issued its Standard Cultivation License.

Grey Bruce’s initial phase of 15,000 sq. ft., is estimated to produce 1.64 million grams annually. With the completion of Grey Bruce, the Company’s current annual estimated output is approximately 4 million grams.

In addition to the existing Standard Cultivation license at Alberta Craft Cannabis in Edmonton, and the recently completed  Tumbleweed Farms (currently awaiting its Standard Cultivation License) in Chase BC, Grey Bruce is the third facility that GTEC has completed in order to produce, market and distribute its premium indoor flower. The Company’s 2019 planned cultivation facilities are expected to span a total of 120,000 sq. ft., across three Provinces (BC, Alberta and Ontario), with the anticipation of reaching an estimated annual output of 14,000 kg of indoor flower in late 2019 (through the completion of GreenTec Bio-Pharmaceuticals and 3PL, both in BC).

“With the recently announced changes to Health Canada’s licensing system, we remain confident that Grey Bruce will be issued its Standard Cultivation license in a timely manner,” said Norton Singhavon, Founder, Chairman and CEO of GTEC. “We would like to thank our stakeholders for your continued support as we work diligently to increase our overall production and sales over the course of 2019.”

Corporate Presentation
The Company has also updated its Corporate Presentation to reflect its current initiatives and strategy. A copy of this presentation can be downloaded under the Investors page on the GTEC website (www.gtec.co/investors/)

About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis.

The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000 kg to 14,000 kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT, Tenzo, GreenTec, Cognōscente, Treehugger, and FN.

GTEC is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.

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
ns@gtec.co

Michael Blady
Co-Founder & Vice President
mb@gtec.co

Tumbleweed Farms is the first of multiple purpose-built indoor facilities that GTEC is in the process of building in order to produce its ultra-premium flower. The Company’s initial planned cultivation footprint is expected to span a total of 120,000 square feet, across three Provinces, with the anticipation of reaching an estimated annual output of 14,000 kg of indoor flower by Q3 of 2019.

“We are extremely proud of the work that our operations team has put in over the duration of this process,” said Norton Singhavon, Founder, Chairman & CEO of GTEC. “Our team is excited to expand existing production of our ultra-premium indoor flower, with our unique and exotic genetics for the Canadian medical and adult-use markets.”

The Company is in the final stages of compiling its Video Evidence Package, with the expectation of its final submission into Health Canada by next week. Once Health Canada confirms that the requirements of the Cannabis Act and Regulations have been met, a Standard Cultivation license will be issued and the Company will immediately commence cultivation.

GTEC’s initial harvests from Alberta Craft Cannabis are currently available to registered medical patients, under its flagship medical brand GreenTec , exclusively at Namaste’s (TSXV:N.V) (M5BQ.F) (NXTTF) CannMart (www.cannmart.com).

Tumbleweed Farms’ initial phase consists of 10,000 square feet for indoor cultivation, strategically located in Chase BC, about 8kms from the Trans-Canada Highway and situated just outside of the Kamloops city limits. The property sits on 23 acres of land with significant future expansion capabilities and access to an on-site gravity fed natural artesian well.

The Company announces that 200,000 incentive stock options have been granted to Jeremy Wright, the Chief Financial Officer of the Company. The stock options vest immediately and have an exercise price of $0.60 per share and are exercisable for a period of three years from the grant date. The options are subject to, in all respects, the terms of the Company’s stock option plan and the requirements of the TSX Venture Exchange.

About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities.  The company is vertically integrated across all major sectors of the Canadian cannabis industry and holds Cultivation, Extraction and Analytical testing licenses. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies.  GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada.  GTEC’s premium indoor cannabis will be marketed and sold under its flagship trademarked brands; BLK MKT , Tenzo , GreenTec , cognōscente , FN , and Treehugger . The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange and the OTCQB Venture Market. The Company is headquartered in Kelowna, British Columbia.

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
ns@gtec.co

Michael Blady
Co-Founder & Vice President
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.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

Attachment

• Tumbleweed-Farms-Initial-Phase

For additional information please contact:
GTEC Holdings Ltd.
1-800-351-6358
contact@gtec.co