/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. /
KELOWNA, BC – June 4, 2018 – GreenTec Holdings Ltd. (“GreenTec”) and Black Birch Capital Acquisition III Corp. (TSXV: BBC.H) (“Black Birch”) are pleased to announce that the company has been selected to apply for a cannabis retail permit by the Saskatchewan Liquor and Gaming Authority (SLGA).
GreenTec’s retail applications were done in partnership with the Battleford Agency Tribal Chiefs Inc. (BATC). The GreenTec – BATC partnership was successful in acquiring the right to apply for a retail cannabis store in Nipawin, Saskatchewan.
“We’re proud to have established a foothold in the Saskatchewan retail cannabis market” said Norton Singhavon, CEO, GreenTec Holdings Ltd. “We anticipate that this development will facilitate both our traditional and on-line retail efforts in the province of Saskatchewan. Furthermore, we believe that this puts GreenTec one step closer to achieving its objective of full vertical integration.”
Over 1,500 applications were made for 51 retail cannabis permits in the province of Saskatchewan. A two-stage process included an initial screening to qualify applicants, followed by a random selection from amongst the qualified applicants. The successful applicants now have 45 days to begin their permitting process.
GreenTec was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GreenTec is a private corporation based in Kelowna, British Columbia. GreenTec is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GreenTec currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Grey Bruce Farms Inc., Zenalytic Laboratories Ltd., Falcon Ridge Naturals Ltd., Alberta Craft Cannabis Inc. (formerly Grenex Pharms Inc.), and Tumbleweed Farms Corp.
All information contained in this news release with respect to GreenTec was supplied by GreenTec for inclusion herein, and Black Birch and its directors and officers have relied on GreenTec for any such information.
For additional information please contact:
Chief Executive Officer of Black Birch
Chairman & Chief Executive Officer of GreenTec
The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.
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 Corporation 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. 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. Black Birch 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.