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Greenway Submits its Health Canada Application for its Finished Expansion

Dec 26, 2022 • 5:38 PM EST
3 MIN READ  •  By Michael Berger
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KINGSVILLE, ONDec. 13, 2022 /CNW/ – Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) (“Greenway” or the “Company”) a cultivator of high-quality greenhouse cannabis for the Canadian market, is pleased to announce that it has submitted its application to Health Canada to license additional cultivation and processing space, as well as an application for a Standard Processing licence.

“Submitting the application for the expanded Cultivation licence is the culmination of months of hard work and dedication by our staff and the contractors who have done an amazing job. We were able to finish the expansion on time and on budget, in no small part due to their hard work,” said Jamie D’Alimonte, CEO of Greenway. “We were prudent to start right-sized, and now we look forward to scaling up production and revenue.”

“We have been very methodical with our growth, making sure we could walk before trying to run,” said Carl Mastronardi, President of Greenway. “But now it’s time to start operating with a capacity of up to 24,000 kgs per year. We will scale up production while maintaining an industry low standard for general and administrative expenses.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.

About Greenway

Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on Greenway.ca and updates can be followed on InstagramTwitterFacebook, and LinkedIn.

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.

Cautionary Note Regarding Forward-Looking Statements

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 and include statements regarding the Offering 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 September 3, 2021, a copy of which is available under the Company’s profile at www.sedar.com. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.

SOURCE Greenway Greenhouse Cannabis Corporation

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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