KELOWNA, BC, Sept. 27, 2018 /CNW/ – GTEC Holdings Ltd. (“GTEC” or the “Company“) (TSXV: GTEC) (OTCPK: GGTTF) is pleased to announce the completion of a Letter Agreement (the “Agreement“) to collaborate on cannabis spray products for the Canadian market with Integrated Cannabis Company, Inc. (“Integrated Cannabis“) (CSE: ICAN, OTCQB: ICNAF), a health and lifestyle products company utilizing advanced delivery systems and formulations including oral sprays.
The Agreement allows for the co-development and marketing of novel spray products, utilizing proprietary nanotization technology containing both Cannabidiol (CBD) and/or Tetrahydrocannabinol (THC) in the Canadian medicinal and recreational markets. The Agreement is subject to the implementation of federal legislation in Canada and corresponding provincial and territorial legislation that permits the distribution and sale of certain formats of cannabis products, including without limitation to sprays.
Over the coming weeks, the companies will engage with their marketing and distribution teams to streamline the logistics of developing and ultimately introducing products to the Canadian marketplace.
“We are very excited to be working with Integrated Cannabis and their unique line of the X-SPRAY™ products. As we continue to push towards positioning ourselves as a preeminent cannabis company it is critical to diversify our product offering with formulations that are both novel and offer alternative delivery methods,” said Mr. Norton Singhavon, CEO of GTEC.
“Partnering with a Canadian Licensed Producer has been a major goal of ours in order to facilitate the expansion of our product line into legal, established marketplaces. The GTEC team is an ideal partner given their status as a LP and their tenure in the cannabis industry which provides a great alliance for our innovative product line,” said Mr. John Knapp, CEO of Integrated Cannabis.
The companies aim to have a definitive agreement in place by October 31, 2018.
About Integrated Cannabis Company, Inc.
Integrated Cannabis Company, Inc. is comprised of dedicated scientists and product engineers who are passionate about health and creating health and lifestyle products utilizing advanced delivery systems and formulations. For more information, please visit the company’s website at: www.x-sprays.com.
GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. The Company also has a number of retail cannabis initiatives in Western Canada. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Tumbleweed Farms Corp., Falcon Ridge Naturals Ltd., Alberta Craft Cannabis Inc., Grey Bruce Farms Inc., Zenalytic Laboratories Ltd. and Spectre Labs Inc. GTEC is a publicly-traded corporation based in Kelowna, British Columbia. The Company’s shares are listed on the TSX Venture Exchange and OTC Pink Sheets.
To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co.
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