NEW YORK, Aug. 22, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- GenTech Holdings, Inc. (OTCMKTS: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end CBD food and drinks marketplace, is excited to announce accelerated plans to open its inaugural “Healthy Leaf” CBD-Infusion Café, with final architecture work now currently underway through leading architecture firm, Smith Maran LLC. In addition, the Company has officially extended lease agreement offers for as many as three additional Healthy Leaf locations.
“We have instructed the Smith Maran team to deliver a final plan that maximizes indoor and outdoor seating capacity with ample space for live entertainment,” commented David Lovatt, CEO of GenTech. “They are well aware of our signature high-end CBD lifestyle Café model, and we expect them to deliver finalized plans with a truly special tone and feel. We should have plans finalized by the end of next month, and we expect a relatively quick sprint from there to a tangible Grand Opening.”
Aside from the accelerated path toward a grand opening of Healthy Leaf Café #1, the Company has also made official lease offers for three additional Café locations. As noted in prior communications, the Company is moving along a planned path for coast-to-coast Healthy Leaf CBD-infusion cafés within 24 months.
Management notes that the Company’s accelerated time table for launch and expansion is linked to professional research suggesting faster-than-anticipated mainstream adoption of CBD products by general consumers in North America in 2019, as projected by a number of recently published Wall Street analyst reports. Several factors may account for this increased pace, but the Company believes that increasing availability of CBD-based products on the shelves of physical retail chain stores may be “normalizing” the concept of cannabidiol as a desirable product ingredient for mainstream consumers at an accelerated pace.
“We have seen analyst growth estimates for CBD skyrocket over the past three months,” continues Mr. Lovatt. “Our sense is that this is related to the reduced stigma of CBD now that consumers regularly see CBD based products on the shelves at the likes of Macy’s, Kroger’s, Walgreen’s, Rite Aid, and Walmart. It just doesn’t seem quite so ‘niche’ or ‘counterculture’ anymore. That has huge implications for our own sense of the size of our target market. This could be much bigger than we initially realized.”
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The company is creating a national chain of Hemp Centric Coffee Shop Retail Spaces where patrons can relax, drink CBD infused Teas and Coffees, try various own-brand products and experience holistic education and classes. The company is also building an extensive outreach program working with medical practitioners across the country in their own locations to educate their patients and increase awareness of the benefits of THC free CBD Products. All of this is offered under the brand 'The Healthy Leaf'.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech's future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
Corporate Contact:
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