MillRite Launches New Product In Ontario, Update on Branded Sales

Rhea-AI Summary

Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) announced the launch of Pink Moon, a new product in their MillRite line, available in Ontario. Pink Moon will be offered in a 2 x 0.5 gram pre-roll format. MillRite is now the #2 ranked brand of pre-rolls in Ontario by total retail sales, and its Lavender Haze pre-rolls have achieved a similar ranking over the past three months. The addition of Pink Moon provides both Indica and Sativa options in the Ontario market. Greenway aims to capture a larger share of the cannabis market, which comprises over 60% of sales in the whole flower and pre-roll segments.

Positive

• Launch of new product Pink Moon in Ontario.
• MillRite ranked #2 in Ontario pre-roll sales.
• Lavender Haze pre-rolls ranked #2 in Ontario over the last three months.
• Addition of both Indica and Sativa dominant pre-rolls in product line.
• Focus on whole flower and pre-roll segments, over 60% of cannabis sales in Ontario.

Negative

• No specific financial data provided for the impact of new launch.
• Potential market saturation with similar products.
• No mention of differentiation from competitors beyond product format.

KINGSVILLE, ON, June 13, 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, today announced that Pink Moon, a new addition to the MillRite family of products will soon be available for purchase in Ontario, and provided an update on other branded pre-rolls.

Highlights:

• MillRite Pink Moon is launching in a 2 x.5 gram Pre-Roll format across Ontario
• MillRite is the #2 ranked brand of pre-rolls by total Ontario retail sales in its size segment, through its first four-months
• MillRites Lavender Haze Pre-Rolls were also the #2 ranked SKU in Ontario, over the last three-months
• With the addition of Pink Moon, MillRite will have both a Indica dominant and Sativa dominant pre-roll in the Ontario market
• Greenway through its first two brand launches, is focusing on the whole flower and pre-rolls segments of the CPG market, which makes up over 60% of all cannabis sales in Ontario

Carl Mastronardi, President of Greenway said:

"After seeing success with our Lavender Haze pre-rolls in Ontario, we are excited to be rolling out our new Pink Moon pre-rolls. This expands the MillRite portfolio into having both a traditional indica and sativa, widening the appeal to a larger number of consumers. We look forward to emulating the Lavender Haze rollout with Pink Moon. The feedback we got from consumers has been very positive, and our goal is to continue to exceed their very high expectations."

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.

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.

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

What is the new product launched by Greenway Greenhouse Cannabis ?

Greenway Greenhouse Cannabis has launched Pink Moon, a new pre-roll product in their MillRite line.

When will Pink Moon be available in Ontario?

Pink Moon will soon be available for purchase in Ontario.

What is the format of the new Pink Moon pre-rolls?

Pink Moon will be available in a 2 x 0.5 gram pre-roll format.

How is MillRite performing in Ontario's pre-roll market?

MillRite is the #2 ranked brand of pre-rolls in Ontario by total retail sales.

What other product has MillRite successfully launched in Ontario?

MillRite successfully launched Lavender Haze pre-rolls, which are also ranked #2 in Ontario over the last three months.

What segments of the cannabis market is Greenway focusing on?

Greenway is focusing on the whole flower and pre-roll segments, which make up over 60% of cannabis sales in Ontario.