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GTEC Provides Updates on Production and Sales

GlobeNewswire

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Kelowna, BC, Feb. 12, 2020 (GLOBE NEWSWIRE) — GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), a multi-licence producer of premium indoor cultivated cannabis, is pleased to present the following updates on production and sales:Produced 434 kilograms (“KG”) of cannabisSold 280 KG of cannabis, with estimated weighted average selling prices of:256 KG of business-to-business (“B2B”) sales at $5.25 per gram for flower and $2.50 per gram for secondary products (trim and popcorn)24 KG of recreational cannabis sales at $9.25 per gramAn estimated cash cost between $2.15 – $2.20 per gram. The increased cash cost was due to labour and packaging relating to recreational salesThe final week of Q4 saw an initial recreational product launch of 24 KG, primarily produced at Grey Bruce FarmsThe Company will report its fiscal 2019 audited results on Tuesday March 17, 2020In 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.Three licensed cultivation facilities, totaling approximately 39,000 square feet, are now operating at full capacity, with Q2 harvests expected to drive increased revenue growth in Q2 and Q3,2020On an ongoing basis, the Company has been selling all cannabis that has been produced; which demonstrates significant demand for GTEC products. The Company also has not experienced any material issues with production, product recalls, quality control, crop loss, or stale dated productsBLK MKT products receiving positive reviews on Lift & CoThe majority of the Company’s harvests are testing above 20% THC, with several harvests testing in the 26-29% range, resulting in certain GTEC products achieving some of the highest THC content in the sectorDue to demand levels for BLK MKT branded products, the BCLDB has implemented an order limit on wholesale purchases by retail storesBLK MKT products rank amongst the highest pricing tiers (on per gram basis) in all retail channelsThe Company is increasing average selling prices and gross margins by transitioning from bulk B2B cannabis sales to CPG cannabis sales (via Provincial sales channels)Completed the successful transition from commercial cultivars to unique premium cultivars, with the final harvests of the commercial cultivars scheduled for February 2020, which allows the Company to enter Q2 solely producing unique premium cultivars, which is projected to increase the Company’s average selling price and gross marginsLaunched single gram SKUs for BLK MKT cultivars in B.C. and Saskatchewan, with an increased selling price per gram than its 3.5 gram SKUsLaunched Tenzo (Purple Punch 2.0) in B.C. and SaskatchewanCommenced the extraction of secondary products (trim and popcorn) into distillate oil, which has been sold to its wholesale partnersCommenced small-scale test harvests of new cultivars which are highly sought-after in other mature markets, to determine viability for commercial CPG productionRecently approved as a Licensed Supplier in the Province of Manitoba“While the overall sector is facing rising inventory, declining selling prices and disappointing consumer reviews, GTEC’s focused business model of high-quality product, expanding distribution channels, and high selling prices are positioning the Company well,” said Norton Singhavon, Founder and CEO of GTEC. “We’re confident that our singular focus on cultivating, selling and marketing premium cannabis products will give us the leading edge in the industry.”Construction at the 3PL joint venture is currently on schedule to complete during the fiscal 2020 year. The JV has the necessary financial resources to complete its build out, pursue licencing and to fund the operating capital. In aggregate, the JV facility is expected to have the capacity to be able to produce up to 6,000 KG of indoor flower annuallyExecuted a term sheet to divest its last remaining retail asset (located in Vancouver, BC). The transaction remains subject to closing; which is anticipated no later than March 31, 2020Hired a Director of Security & Regulatory Affairs, who will play a key-role in maintaining regulatory compliance as the Company’s increases its production footprintAs part of the Company’s mandate to focus on the cultivation of premium indoor flower, it has listed its Spectre Labs warehouse for sale at $1.2 million. The Company has been presented offers and is currently in negotiations with multiple prospective buyers, with the expectation of a completed sale in Q2 2020
About GTEC Holdings Ltd.
For additional information, please contact:
GTEC Holdings Ltd.
1-800-351-6358
contact@gtec.co

Cannabis

This Is Why Investors Are Pouring into the Plant-Based Market

Newsfile

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The plant-based boom shows no signs of slowing

Houston, Texas–(Newsfile Corp. – September 25, 2020) – That’s especially true with a growing number of health-conscious consumers. With that base, analysts at Meticulous Research say the plant-based food market could be worth $74.2 billion by 2027, growing at a CAGR of 11.9%.

“The growth in this market is mainly attributed to the increasing incidence of intolerance for animal proteins, nutritional benefits offered by plant-based food, increasing vegan population, and venture investments in plant-based food.”

However, it’s not just food being disrupted by a shift to plant-based products.

It’s transforming the health and wellness market, too.

The global vegan cosmetics market could be worth up to $20.8 billion over the next five years, according to Grand View Research. All on the belief that plant-based products are far better for their health, consumers are pushing for natural alternatives.

Better still, health conscious consumers are shifting to cold-pressed juice.

That the market alone could grow by $275.5 million between 2019 and 2023, according to analysts at Technavio. In addition, “Cold-pressed juice is extremely popular, as it contains nutrients known to boost immunity and general health, but it’s not something that a lot of consumers feel comfortable making at home due to the cleanup, time, and expertise required to get the right taste,” said Penny White, CEO of Better Plant Sciences.

Better Plant Sciences (CSE: PLNT) (OTCQB: VEGGF) is a Driving Force

For one the company just announced that its JUSU Bar juices are now available for online order in Victoria through www.jusubaryyj.com for home delivery.

JUSU Bar currently has one retail juice bar location open in Victoria, British Columbia, and is now delivering cold-pressed JUSU juices directly to customers through its eCommerce store. Better Plant has plans to continue expansion of the juice delivery program across Canada and the U.S. over the next year.

“Organic cold-pressed juice is the perfect fuel to help everyone look after their immune systems, and it has never been more important to do so,” said JUSU Founder, Bruce Mullen. “We have no-contact delivery and pickup available to keep our customers safe.”

Two, Better Plant Sciences just signed an eCommerce lease agreement on August 31, 2020 to take over the day-to-day sales of all Jusu Life and Jusu Body products. The eCommerce lease agreement, along with an inventory purchase, will allow Better Plant to book revenues from all eCommerce and wholesale sales of over 200 JUSU plant-based products for body, baby and home as of September 1, 2020.

“Since the 2017 acquisition of a large plant-based formula library, to the recently announced agreement to acquire JUSU Bar and all JUSU plant-based products, this aligns with our plans to build out our plant-based catalogue and sales,” says CEO Penny White.

And three, Better Plant Sciences just submitted a Natural Health Product application for Ayurveda skin ointment to help combat infectious diseases to Health Canada.

For more information, visit the company’s website at https://betterplantsciences.com

Legal Disclaimer

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.

For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and Better Plant Sciences Inc., Winning Media has been paid two thousand dollars for advertising and marketing services for Better Plant Sciences Inc. We own ZERO shares of Better Plant Sciences Inc. Please click here for full disclaimer.

Contact Information:
2818047972
ty@lifewatermedia.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64647

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Vitalis places No. 3 on The Globe and Mail’s second-annual ranking of Canada’s Top Growing Companies

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KELOWNA, British Columbia, Sept. 25, 2020 (GLOBE NEWSWIRE) — Vitalis Extraction Technology, Inc. (Vitalis) is pleased to announce it has placed No. 3 on the Globe and Mail’s 2020 Report on Business ranking of Canada’s Top Growing Companies.

Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Vitalis earned its spot with a three-year growth of 8,090 per cent.

Vitalis is a world-class manufacturer of industrial-scale supercritical CO2 extraction systems for a broad range of industries, turning their organic materials into pure extracts. Vitalis builds for the future and continues to raise the bar for safety, service and performance to serve its diverse customer base that includes producers of cannabis, hemp, pharmaceuticals, F&B and essential oils.

“What an honour it is to be recognized on this list of great Canadian companies. It is truly a testament to our team and technological innovations, coupled with the trust of our industry-leading clients that has fueled our global growth from our proudly Canadian roots,” said Joel Sherlock, co-founder and chairman of Vitalis. “Vitalis was born on the premise of partnership – we believe that combining a customer-first approach with industry-leading innovation helps drive our clients’ success, which in turn propels our own business. This belief drove our decision to build components in-house, from the initial fabrication of raw steel and customized control systems to live on-site installation and training. We stand firmly behind the quality of every system. We’re proud to reach this milestone as we approach our 5th birthday, and excited to maintain this momentum of growth moving forward with our sights set on new products and new markets.”

Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies had to complete an in-depth application process in order to qualify. In total, 400 companies earned a spot on this year’s ranking.

The full list of 2020 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine—out now—and online at tgam.ca/TopGrowing.

“The stories of Canada’s Top Growing Companies are worth telling at any time but are especially relevant in the wake of COVID-19 pandemic,” says James Cowan, Editor of Report on Business magazine. “As businesses work to rebuild the economy, their resilience and innovation make for essential reading.”

“Any business leader seeking inspiration should look no further than the 400 businesses on this year’s Report on Business ranking of Canada’s Top Growing Companies,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers.”

About The Globe and Mail
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 5.9 million readers every week in print or digital formats, and Report on Business magazine reaches 2.1 million readers in print and digital every issue. The Globe and Mail’s investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.

About Vitalis
Vitalis Extraction Technology Inc. (Vitalis) is a privately-owned, Kelowna BC -based engineering and manufacturing company, producing industrial supercritical CO2 extraction systems for the cannabis, hemp, pharmaceuticals, F&B and essential oil industries. The company’s core focus on innovation and design has vaulted it to the forefront of the market. Renowned for their reliability, scalability, and continuous operation, Vitalis systems are euGMP-compliant and carry the latest certifications, including the American Society of Mechanical Engineers (ASME), National Board (NB), Canadian Standard Association (CSA/CRN), and European Conformity (CE/PED). Vitalis is one of only a few Original Equipment Manufacturers in the space, with operations in Canada, Australia, USA, Columbia, Denmark, United Kingdom, and Serbia as well as in-country support centers spread across the globe. Visit https://vitaliset.com for more information.

Facebook: @VitalisET
Instagram: @vitalisextractiontech
Twitter: @vitaliset
LinkedIn: Vitalis Extraction Technology Inc.
YouTube: Vitalis Extraction Technology

For media inquiries, please contact:
Shauna MacDonald
Brookline Public Relations, Inc.
smacdonald@brooklinepr.com
403-585-4570

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Red Light Holland’s iMicrodose Packs Are Now Available For Purchase In Stores and Online In The Netherlands Plus Launch Event and Global Livestream Update

Newsfile

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Toronto, Ontario–(Newsfile Corp. – September 25, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce their iMicrodose Packs (“iMicrodose Packs“) powered by Red Light Holland are now available in stores and online for purchase in the Netherlands. Red Light Holland would also like to update the time for their launch event of iMicrodose (the “iMicrodose Launch Event“), Microdosing Packs, in the Netherlands from 5-8pm (CEST) today (Friday, September 25th, 2020) with a global livestream starting at approximately 6:30pm and ending around 7:00pm (CEST) / 12:30-1:00pm (EST). The Global Livestream will be made available at: glsr.live/iMicrodose and/or www.RedLightTruffles.com

“We are so proud. Our small team, including our President Hans Derix, have all worked extremely hard to get us to this momentous day for the company. Seriously, this is truly a magical day. On May 28th, I went on record saying Red Light Holland would aim to have product on shelves by the end of Q3, 2020. We have delivered and achieved that goal,” said Todd Shapiro, Chief Executive Officer and Director of the Company. “Today, from 5-8pm (CEST) at our iMicrodose Launch Event we will celebrate this first big win, but we recognize it’s just an initial step in our overall business plan and ultimate growth strategy in both building a responsible use recreational brand while continuing to develop our Science and Innovation division.”

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Pictured: iMicrodose Packs powered by Red Light Holland

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Red Light Holland’s iMicrodose Packs are now available for purchase in The Netherlands (18+) at www.iMicrodose.nl and currently at the following locations: (i) two Tatanka locations (ii) the Headshop and (iii) plus Tatanka’s website at www.tatanka.nl

Update: The iMicrodose Launch Event time has been updated and will be held today Friday, September 25th, 2020, in Amsterdam at the A’DAM the Loft from 5-8 p.m (CEST) for press, artists, thought-leaders, successful entrepreneurs, local celebrities, and social media influencers. The event will feature a global live stream presentation at approximately 6:30pm (CEST) by CEO Todd Shapiro, as well as President Hans Derix and will feature local live artists and DJs including Manuel Broekman, Geza Weisz, Loes van Delft, Amanda van Effrink, aka #GLITZIEGAL and Daan Noppen.

The link to the global livestream will be available on the company’s website www.redlighttruffles.com and/or at glsr.live/iMicrodose

About Red Light Holland Corp.

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, information the timing and other aspects of the iMicrodose Launch Event, including anticipated guests. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that iMicrodose Launch Event will occur on September 25, 2020, or at all. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64632

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