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GTEC Holdings Ltd. (GTEC.V) (GGTTF) Announces Satisfaction of Tumbleweed Milestone

GTEC Announces Satisfaction of Tumbleweed Milestone

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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. For instance, there can be no assurance that the Company’s products will continue achieving amongst the highest gross margins and retail pricing within its sector in Canada, or that the TSXV will approve the Amending Agreement or the issuance of shares to the Tumbleweed Vendors in satisfaction of debt or that the Company will be able to mitigate dilution to its shareholders. 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.

Note (A): This analysis is based on the most recently available Financial Statements on SEDAR from publicly listed Licenced Producers (including GTEC), as of November 19, 2019. Companies included, were those listed on New Cannabis Ventures Canadian Cannabis LP Index, that currently produce in a; greenhouse, indoor operation, or a combination of both, with quarterly sales greater than $1 million. Those with outdoor operations were excluded from the analysis. Based on the analysis GTEC had the third highest gross margin in the sector, and the no.1 highest based on those solely with indoor operations.

For additional information, please contact:
GTEC Holdings Ltd.

By J. Samuel

Joe Samuel or (J. Samuel) is the head staff writer at J. Samuels is a Rochester, NY native who now resides in sunny and medically legal Miami, FL. He has been with the since day 1 & is an irreplaceable part of the Marijuana Stocks team!

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