2022-04-20 | CSE: GWAY | Press release


KINGSVILLE, ON, April 20, 2022 /CNW/ – Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (“Greenway Greenhouse” or the “Company”), a federally licensed cultivator for the Canadian cannabis market, welcomes the decision of the Alcohol and Gaming Commission of Ontario (“AGCO”) on the incentives to create an additional exemption that will allow agreements between retailers and licensed producers for private label products.

On February 8, 2022the AGCO has announced new inducement rules (“Cannabis Standards Updates Clarify Incentive Rules”). Based on industry feedback, the AGCO has amended the new rules on March 28, 2022 (“Cannabis standards update clarifies inducement rule”), to enable the creation of white labels, private labels, private labels and house brands. The new rules will come into effect on June 30, 2022as originally announced.

“After working through the pilot program previously developed by the AGCO, we are pleased to hear that the right decision has finally been made to allow these types of brand development agreements,” said Jamie D’Alimonte, CEO of Greenway Greenhouse. “Forming these critical partnerships between growers and stores is key to ensuring the industry thrives and businesses prosper. This remains another route for Greenway Greenhouse cannabis to reach the market.

“Whenever new avenues are created to bring our product to market, we are thrilled,” said Carl Mastronardi, President of Greenway Greenhouse. “Working directly with retailers to develop products has been exciting as they have a direct line into the minds and habits of the consumer. We want to make sure we continue to deliver top quality products, and get direct feedback retailers is essential to ensure that we continue to make improvements.”

In May 2021, Ontario announced a “flow through” program that will allow retailers to order products not stocked in the Ontario Cannabis Store (OCS) warehouse, including white label products manufactured under an agreement between the retailer and LP. The program was expected to launch in the first quarter of 2022.

Additionally, Greenway Greenhouse is pleased to announce the promotion of Mr. Jacob de Jong as Chief Executive Officer (CAO) and Corporate Secretary, from April 18and2022.

Prior to beginning his cannabis career, Mr. de Jong worked for the Minister of Energy, the Leader of the Government in the House of Ontario and had been an adviser to the Prime Minister of Ontario. Mr. de Jong spent years as a cannabis consultant working on regulatory and public affairs issues, before helping to found and launch a cannabis company.

Mr. de Jong also has extensive experience working and serving on boards and associations across Ontarioby helping them take strategic initiatives with a watchful eye on organization, orderly communication and regulations.

“Jacob will help oversee the day-to-day operations of Greenway and guide operations to meet our short- and long-term strategic initiatives,” said Darren Peddle, Chief Financial Officer of Greenway Greenhouse. “His extensive work in and around the cannabis industry as well as with boards and associations makes us happy to have him on our leadership team as CEO and Corporate Secretary.”

“At the same time, we would like to thank Mr. Andre Brown for serving as Corporate Secretary for the past year, as Mr. Brown has been a valuable and dedicated member of our team. We all wish him well in his future endeavours.”

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of United States nor will 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 law and may not be offered or sold in United States unless registered under the 1933 Act and any applicable securities laws of any state of 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 market. Greenway is headquartered in Kingville, ONand leverages his expertise in agriculture and cannabis in his aspiration to be a leading cannabis grower in Canada. More information can be found at Greenway.ca and updates can be followed at instagram, Twitter, Facebookand LinkedIn.

The AGCO is a regulatory agency of the Government of Ontario with a governing board that reports to the Ministry of the Attorney General. The agency was created on February 23, 1998 under the Alcohol, Cannabis and Gaming Regulation and Public Protection Act 1996. The AGCO is responsible for regulating the alcohol, gaming, horse racing and private sale of cannabis sectors in Ontario in accordance with the principles of honesty and integrity, and in the public interest.

The CSE has in no way conveyed the merits of the Company’s business and has neither approved nor disapproved of the contents of this press release and accepts no responsibility for its adequacy or accuracy. .

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements that constitute forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements in this press release that are not statements of purely historical facts are forward-looking statements and include statements regarding the Offering and the intended use of proceeds thereof, as well as the beliefs, plans , expectations, future, strategy, objectives, goals and objectives, development of future operations and directions regarding the future as of the date of this press release. Although the Company believes that these statements are reasonable and reflect expectations of future developments and other factors that management believes are reasonable and relevant, the Company cannot guarantee that these expectations will prove to be correct. Forward-looking statements are generally identified by words such as: “believes”, “expects”, “aims”, “anticipates”, “intends”, “estimates”, “plans”, “may” , “should”, “would”, “will”, “potential”, “expected” or variations of such words and similar phrases and expressions, which by their nature refer to future events or results which may, could, could or will occur or be taken or achieved.

Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors that 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 forward-looking statements, and includes the risks described in the Company’s final prospectus dated September 3, 2021a 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 press release and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statements or to update the reasons why actual results may differ from those projected in these forward-looking statements. – look at the statements.

SOURCE Greenway Greenhouse Cannabis Corporation

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Luisa D. Fuller