/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, April 10, 2017 /CNW/ - Winston Resources Inc. ("Winston" or the "Company") (CSE: WRW; FSE:WNT) is pleased to announce GT Therapeutics, the targeted acquisition of Winston Resources Inc., has successfully expanded its product line and launched two new vaporizers into the Cannabis market. The two respective vaporizers are the "Slim Vape" and the "Variable Vape."
The Slim Vape is a three piece vape with a detachable mouthpiece that can hold CBD/THC oil in its transparent tank. The "Slim" is approximately 140mm x 8mm making it convenient, light and discrete. The battery is internally stored so users can recharge with ease. The "Slim" is known to be "Slim in Design but Big in function."
The "Variable Vape" is a two piece vape with an atomizer and mouth piece attached. Built to carry CBD/THC oils in its transparent tank, the "Variable" allows users the unique advantage of adjusting the temperature. As certain cannabinoid oils have different optimal vaporizing temperatures the "Variable" allows users to optimize their experience and dosages. The "Variable" is approximately 160mm x 11mm, known to be "Built for Power and Durability."
Quinn Field-Dyte of Winston comments "We believe that the future in the cannabis market is in branding, concentrates, and ancillary products. By releasing these two new products it strengthens our market share and position in these specific fields. Users look for cutting edge custom/functional designs, with the Slim and the Variable vaporizers we feel like this has been achieved .
Update on Proposed Transaction
On Feb. 24, 2017, Winston signed a letter of intent with GT Therapeutics Corp., doing business as Green Tree Therapeutics, an arm's-length private British Columbia company, pursuant to which the company will complete a reverse takeover and acquire from Green Tree Therapeutics' shareholders 100 per cent of the shares of Green Tree Therapeutics, causing Green Tree Therapeutics to become a wholly owned subsidiary of Winston. On completion of the transaction, the business of Green Tree Therapeutics will become the business of Winston, and the company will abandon the Pigeon River property.
The company continues to work through due diligence and negotiation of the definitive agreement. The transaction remains subject to certain closing conditions, including completion of due diligence, the negotiation and signing of a definitive agreement, and obtaining all necessary approvals, including approval of the respective boards, the approval of the Canadian Securities Exchange, and if applicable, shareholders of the company. There can be no guarantees that the transaction will be completed as proposed or at all.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
SOURCE Winston Resources Inc.