Greenway Exceeds 30,000 KG in Cannabis Sales And Provides AGM Results

Rhea-AI Summary

Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) has surpassed 30,000 KG of cannabis product sold since its inception, highlighting the company's growth and market demand. CEO Jamie D'Alimonte emphasized Greenway's strategic positioning in the evolving cannabis industry, noting they have quadrupled growing capacity and are prepared for further expansion if demand continues to rise.

The company also reported results from its recent Annual General Meeting, where shareholders re-elected Jamie D'Alimonte, Carl Mastronardi, Dennis Staudt, and Marty Komsa as Directors. MNP was reappointed as auditors, and the company's rolling stock option plan was approved. President Carl Mastronardi expressed gratitude for shareholder support and anticipates significant company developments in the coming year.

Positive

• Surpassed 30,000 KG of cannabis product sold, indicating strong market demand
• Quadrupled growing capacity, positioning for potential further expansion
• Successfully launched first branded products in Canada
• Shareholders approved re-election of directors and reappointment of auditors

Negative

• None.

KINGSVILLE, ON, Oct. 4, 2024 /PRNewswire/ - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, is pleased to announce that it has surpassed 30,000 KG of product sold since its inception.

This milestone highlights Greenway's commitment to quality, innovation, and growth under the leadership of CEO Jamie D'Alimonte and President Carl Mastronardi.

"We are excited to achieve this major milestone. The sale of 30,000 kilograms of cannabis biomass not only showcases our team's commitment but also underscores the strong market demand and ever-growing confidence from our clients. This milestone highlights Greenway's market strategy as we have strategically positioned ourselves to seize new opportunities in the fast-changing cannabis industry," said Jamie D'Alimonte, CEO of Greenway. "Over the last few years, we have quadrupled our growing capacity, and have methodically ramped up our production. If the demand for our product continues to climb, we are in a strong position to expand our capacity even further. As the market evolves, we are committed to diversifying our product offerings, and driving innovation to meet increasing global demand. Greenway is focused on leveraging our strengths and maximizing value for our shareholders as we navigate this exciting phase of industry expansion."

Results of Annual General Meeting

The Company reports that at the recent Annual General Meeting held in September, the shareholders voted in favour of re-electing Jamie D'Alimonte, Carl Mastronardi, Dennis Staudt and Marty Komsa as Directors, to serve in office until the next annual meeting or until their successors are duly elected and appointed.

The shareholders also voted in favour of MNP being reappointed as auditors of the Company until the next annual meeting of the Company's shareholders or until their successors are duly appointed, and approved the Companies rolling stock option plan.

"I am grateful for the support from our shareholders at this year's AGM, and it's a privilege to be part of Greenway's leadership team," said Carl Mastronardi, President of Greenway. "This last year we hit some major milestones, including getting our first branded products on shelves in Canada. Over the course of the next year, we are looking forward to taking some major steps forward as a company. Greenway is in strong, prudent hands, and we are confident in our direction. We look forward to sharing more exciting developments in the months ahead."

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.

About Greenway

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 Offering and the intended use of proceeds thereof, and 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.sedarplus.ca. 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.

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SOURCE Greenway Greenhouse Cannabis Corporation

FAQ

How much cannabis has Greenway Greenhouse Cannabis (GWAYF) sold since inception?

Greenway Greenhouse Cannabis (GWAYF) has surpassed 30,000 KG of cannabis product sold since its inception.

What was the outcome of Greenway's (GWAYF) recent Annual General Meeting?

At the recent Annual General Meeting, shareholders re-elected Jamie D'Alimonte, Carl Mastronardi, Dennis Staudt, and Marty Komsa as Directors, reappointed MNP as auditors, and approved the company's rolling stock option plan.

How has Greenway (GWAYF) expanded its production capacity?

Greenway has quadrupled its growing capacity over the last few years and is prepared for further expansion if demand continues to rise.

What recent milestone did Greenway (GWAYF) achieve in the Canadian market?

Greenway recently achieved the milestone of getting its first branded products on shelves in Canada.