KELOWNA, BC, Dec. 12, 2018 /CNW/ - GTEC Holdings Ltd.
(TSXV: GTEC) (OTCQB: GGTTF) ("GTEC" or the
"Company"), a specialized and vertically integrated premium
cannabis company, is pleased to announce that its common shares
have been approved for up-listing of trading onto the OTCQB Venture
Market ("OTCQB Venture"), a US trading platform that is
operated by the OTC Markets Group in New
York. Effective immediately, the Company will commence
trading on the OTCQB under the symbol "GGTTF". The Company's common
shares will continue to trade on the TSX Venture Exchange under the
symbol "GTEC". In addition, the Company is pleased to
announce that it has received DTC eligibility by The Depository
Trust Company ("DTC") for electronic settlement and transfer
of its common shares in the United
States.
The OTCQB is the premier marketplace for entrepreneurial and
development stage US and international companies that are committed
to providing a high-quality trading and information experience for
their US investors. To be eligible, companies must be current in
their financial reporting, pass a minimum bid price test, and
undergo an annual company verification and management certification
process. The OTCQB quality standards provide a strong baseline of
transparency, as well as the technology and regulation to improve
the information and trading experience for investors. The ability
to have the Company's shares electronically transferred between
brokerages in the US is significantly more convenient and reduces
the costs incurred in trading shares. When shares are able to
trade electronically, existing investors benefit from greater
liquidity and execution speeds, while opening the door to new
investors that may have been previously restricted from the
Company's shares.
The DTC is a subsidiary of the Depository Trust & Clearing
Corporation ("DTCC"), and manages the electronic clearing
and settlement of publicly traded companies. Securities that are
eligible to be electronically cleared and settled through the DTC
are considered "DTC eligible." This electronic method of clearing
securities speeds up the receipt of stock and cash, and thus
accelerates the settlement process for investors and brokers
reducing transactional costs for participating brokerage firms,
enabling the stock to be traded over a much wider selection of
brokerage firms by coming into compliance with their
requirements.
About GTEC
GTEC Holdings is a specialized craft cannabis company dedicated
to cultivating premium quality cannabis in purpose-built indoor
facilities. The company is vertically integrated across all
major sectors of the Canadian cannabis industry and holds
Cultivation, Extraction and Analytical testing licenses. The
management team is comprised of a diverse skill set sourced from
leading global food & beverage and premium alcohol
companies. GTEC's retail division is pursuing licensing for
over 35 recreational cannabis stores across Western Canada.
GTEC's premium indoor cannabis will be marketed and sold under its
flagship trademarked brands; BLK MKT TM; Tenzo
TM, GreenTec TM, cognōscente TM,
FN TM, and Treehugger TM. The Company is
actively pursuing sales and distribution opportunities across all
major business channels: medical, recreational, B2B and
export. GTEC is a publicly traded corporation, listed on the
TSX Venture Exchange and the OTCQB Venture Market. The
Company is headquartered in Kelowna,
British Columbia.
To view more about the company or to request our most recent
corporate presentation, please visit our website
at www.gtec.co.
TSX Venture – Symbol: GTEC
OTCQB Venture – Symbol:
GGTTF
On behalf of the board,
Norton Singhavon
Founder, Chairman & CEO
ns@gtec.co
Michael Blady
Co-Founder & Vice President
mb@gtec.co
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.
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, where applicable and the state
of the capital markets. 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. 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.
SOURCE GreenTec Holdings