KINGSVILLE, Ontario – October 31, 2022 – Greenway Greenhouse Cannabis Corporation (CSE:GWAY) (“Greenway Greenhouse” or the “Company”) a cultivator of high-quality greenhouse cannabis for the Canadian market, is pleased to announce the completion of the construction of its processing expansion, and provide a general expansion update.
Greenway is pleased to announce the completion of one of the two stages of the current expansion. The 46% increase to processing space includes new dry rooms, curing rooms, secure storage and processing space which expands Greenways processing capability to support up to 500,000 ft2 of flowering space. The completed portion of the expansion has come in ahead of schedule, and below budget.
“Our team is happy that we can keep showing to the public that we are delivering on our promises,” said Carl Mastronardi, President of Greenway. “We have a long history of building out cutting edge greenhouses, and because of our leadership team we did it on budget and ahead of schedule.”
“We know as growers that the processes that occur after the harvest are as important as all the other steps,” said Jamie D’Alimonte, CEO of Greenway. “With this new space we are able to continue to hang dry, cure and hand finish all of our product. As we continue to scale, we are going to start seeing more and more efficiencies which directly translates into shareholder value.”
The Company will provide a final update on the construction of the expanded cultivation area in the coming weeks.
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 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.sedar.com. 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
Greenway Greenhouse Cannabis Corporation
Darren Peddle, Director and CFO
Greenway Greenhouse Cannabis Corporation