Kelowna, BC, March 01, 2019 (GLOBE NEWSWIRE) -- GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that it has retained Oak Hill Financial Inc. (“Oak Hill”) to provide investor relations services to the Company in compliance with regulatory guidelines.
Oak Hill is a Toronto-based firm which develops strategic platforms for its clients that are utilized to gain exposure and recognition to the capital markets. Oak Hill provides asset management, capital market and investor relations services. Its team has marketed corporate issuers ranging in market cap from $10M to $1B in a variety of different sectors to the Canadian retail brokerage channel, family offices and institutional networks. Oak Hill’s team of has experience across equity capital markets, equity research, portfolio management, institutional equity sales, and traditional investor relations – resulting in tailored and highly collaborative solutions. Oak Hill is located at 181 Bay Street, Suite 1030 in Toronto.
Oak Hill will work closely with GTEC to develop and deploy a comprehensive capital markets strategy and campaign. Activities will include providing an investor relations program catering to retail investors, marketing services and an ongoing client services program.
Under the terms of engagement, Oak Hill has been retained for a five-month period at $40,000 for the full term. The Company has also granted 100,000 stock options to Oak Hill at an exercise price of $0.57, expiring March 1, 2022. The options will vest in five equal tranches and will vest in full on March 1, 2020. This agreement is subject to the approval of the TSX Venture Exchange.
About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000 kg to 14,000 kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT ™, Tenzo ™, GreenTec ™, Cognōscente ™, FN ™, and Treehugger ™. The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.
To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co
On behalf of the board,
Norton Singhavon
Founder, Chairman & CEO
ns@gtec.co
Michael Blady
Co-Founder & Vice President
mb@gtec.co
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.