|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.1062 - 0.1129|
|52 Week Range||0.0558 - 0.4052|
|Beta (5Y Monthly)||2.41|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that Norton Singhavon, Founder, Chairman and CEO, has agreed to waive a portion of his entitlement to further payments (the “Payments Waiver”) in connection with GTEC’s acquisition of 1118157 B.C. Ltd. (“1118”), GreenTec Bio-Pharmaeuticals Corp. (“GBP”) and Grey Bruce Farms Incorporated (“GBF”). The Company has also secured agreements with certain other vendors of 1118, GBP and GBF to reduce their milestone entitlements and all vendors have agreed to increase the floor price of common shares in the capital of the Company (the “Common Shares”) to be issued in connection with milestone payments still payable.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that on March 13, 2020, it executed a non-binding term sheet with Trichome Financial Corp. (CSE:TFC) (“Trichome”) for a non-brokered senior secured debt financing (the “Financing”) of CAD $4,500,000 (the “Term Sheet”). The Term Sheet provides for a senior secured loan in the amount of $4,500,000 for a term of 24 months, with an annual interest rate of 9.5% to be paid monthly. Beginning on the date that is 12 months following the closing date, the Borrower shall also repay $100,000 of the outstanding principal amount each month until maturity.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that, with the aim to mitigate the dilution to shareholders resulting from the issuance of shares in connection with certain milestone payments, it has entered into an amending agreement on February 4, 2020 (the “Amending Agreement”) with the vendors of Tumbleweed Farms Corp. (“Tumbleweed”) amending certain terms and conditions of the definitive share purchase agreement, dated August 12, 2017, as amended (the “Tumbleweed SPA” and together with the Amending Agreement, the “Agreement”). Among other things, the Amending Agreement raised the floor price of the Common Shares to be issued in connection with the first four harvests to a deemed price per share equal to the greater of (A) the 5-day volume-weighted average trading price of the Common Shares ending on the day preceding this press release and (B) $0.18.
In Q4, the Company commenced a transition from selling its cannabis produced from commercial cultivars on a B2B wholesale basis, to selling cannabis produced from its unique cultivars in a consumer packaged good (“CPG”) format via Provincial supply chains. As a result of logistical factors, certain shipments into Provincial sales channels, which were originally anticipated to ship in Q4 2019 occurred early in Q1 2020. All figures reported above with respect to the quarter ended November 30, 2019 are preliminary and are unaudited and subject to change and adjustment as the Company prepares its consolidated financial statements for the year ended November 30, 2019.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that it has extended and revised its agreement with an Okanagan-based cannabis consulting firm (the “Consultant”) to facilitate acquisition and cultivation of cannabis genetics (“cultivars”), via its wholly owned subsidiary, Tumbleweed Farms Corp. As previously announced, the parties originally signed an agreement dated October 19, 2018 and amendments dated October 19, 2018 and January 8, 2019, and revised terms (the “Amendment”) to: i) replace former royalty payments; ii) extend exclusivity commitments with respect to a broader array of cultivars supplied under the agreement; iii) grant to GTEC a limited right of first refusal on future cultivars developed by the Consultant, and (iv) limit the term of the agreement to June 30, 2023 (the “Term”).
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), a multi-licenced producer of premium indoor flower, announced that it has formally launched its recreational adult-use brands in the Provinces of British Columbia and Saskatchewan. “We set out a mandate to produce ultra-premium cannabis that is superior to the available selection in the current legal marketplace, produced from exclusive cultivars,” said Norton Singhavon, Founder, Chairman and CEO of GTEC.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), 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 the Transaction has been completed. Upon the closing of the Transaction, CCI has settled GTEC’s outstanding $4.06 million debt, in a cash repayment (the “Repayment”). The Repayment will strengthen GTEC’s balance sheet as the Company continues its near-term initiatives of completing the development of its two facilities currently under construction, with the expectation to increase its annual production output from its current 4,000 kg output to approximately 9,000 kg in 2020.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) 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 connection with the filing of an early warning report. Prior to the completion of the transaction set forth in the Report, Mr. Singhavon owned 14,115,490 common shares in the capital of GTEC (“Common Shares”) on a partially-diluted basis (after giving effect to the exercise of warrants and options exercisable today or within 60 days) (“partially-diluted basis”), representing beneficial ownership of 11.06% of the outstanding Common Shares calculated on a partially-diluted basis.
Kelowna, BC, Sept. 18, 2019 -- GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), a vertically integrated premium cannabis producer, announces.
/ NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES / GTEC subsidiary Cannabis Cowboy sale of certain assets including 8 development.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) 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”) (WEED.TO) (CGC). GTEC and Canopy Growth have entered into an Amending Agreement that extends the Purchaser’s Condition Waiver Date to September 16, 2019.
GTEC Holdings Ltd. (GTEC.V) (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 the Cannabis Act and Regulations by Health Canada on August 16, 2019.
GTEC Holdings Ltd. (GTEC.V) (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 to identify a permanent Chief Financial Officer.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), 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.
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to announce that GTEC and Canopy Growth Corporation (“Canopy Growth”) (WEED.TO) (CGC) 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 license by Health Canada, the Facility is estimated to increase GTEC’s annual production capacity by 4,000 kg, bringing the Company’s total projected annual output to 18,000 kg throughout 160,000 sq. ft. of indoor flowering space by 2020.
GTEC Holdings Ltd. (GTEC.V)(GGTTF)(FRA:1BUP) (“GTEC” or the “Company”), a vertically integrated premium cannabis producer, 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 unanimously for each of the directors, being Norton Singhavon, Michael Blady, Derek Sanders, Aaron Dow and Jürgen Schreiber. "We are pleased to receive strong shareholder support for the Board nominees, and we are confident that the collective skill set of the GTEC Board members are a major asset for the company," said Norton Singhavon, Founder, Chairman and CEO of GTEC.