Greenway Announces Sales Agency Agreement with Green Hedge
KINGSVILLE, ON, Oct. 12, 2023 /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 signed an agreement with Green Hedge to act as an outside sales force, providing coverage to licensed cannabis retailers and provincial wholesalers across Canada.
Green Hedge is a leading cannabis sales and distribution company headquartered in Toronto, Ontario led by Andrew von Teichman. Mr. von Teichman has over two decades of entrepreneurial experience in distribution and consumer packaged goods, and has established Green Hedge as one of Canada's top cannabis distributors. Operating in 9 provinces with more than 2,800 active retail partners in Canada, the company has achieved retail penetration rates in excess of 93% with their customers.
"Green Hedge is a great fit for Greenway, giving us instant access to thousands of stores across Canada in every major market in the most cost-effective manner," said Jamie D'Alimonte, CEO. "As Greenway brands launch into the consumer market, having one of the largest distribution networks in Canada open to us will help position us for success."
Greenway recently announced that its first consumer brands have been accepted into the Ontario Cannabis Stores Winter Launch.
"We have been watching Greenway's success in market over the past two years, and have admired the quality and consistency of their product. To be a part of their brand roll out in 2024 is very exciting for our team and we believe that our collective experience bringing new brands to market will make for an exceptional launch" said von Teichman.
"Investors are impressed with Greenway's cost controls for production as well as our administration and marketing expenses. This partnership with Green Hedge allows us to tap into their developed relationships with retailers across the country, while minimizing the marketing expenses for Greenway," said Darren Peddle, CFO. "It is another prudent step taken to scale up our branded cannabis sales and strive for significant profitability."
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.
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 Instagram, Twitter, Facebook, 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.sedarplus.ca. 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
Company Contact: Darren Peddle, Director and CFO, Greenway Greenhouse Cannabis Corporation [email protected], 1-519-712-0311
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