VANCOUVER, March 28, 2017 /CNW/ - Winston Resources Inc. (CSE: WRW) (the "Company" or "Winston") is pleased to announce that GT Therapeutics completes a sale to supply a chain of 35 Marijuana affiliated retail stores for a total purchase of approximately $250,000.00.
"This order coincides with our strategy of capturing shelf space in order to add a large number of new distribution outlets/channels and build customer loyalty to our brand. In the quickly changing landscape of legalized marijuana, we feel those who have captured shelf space are the companies that are going to win the market share."
By completing this transaction, the purchaser has an option to purchase an additional $250,000.00 worth of vaporizers on the same terms and conditions as the initial purchase.
The order is scheduled to be delivered within the next 30 days to all retail stores. GT Therapeutics has also agreed to help educate the sales and marketing of the vape pens throughout the retailers.
"Educating retailers and sales staff is key to building a successful brand culture. We not only look to be on all shelves throughout North America, but also be one of the highest volume products on those shelves."
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 Winston Resources Inc.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Winston Resources Inc. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Winston Resources Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.
SOURCE Winston Resources Inc.
For further information: For more information please contact Sean Bromley at (604) 283 1722.