GTEC Holdings (GTEC.C) joins the slender ranks of companies in the cannabis space with multiple licenses at hand, with the news Friday afternoon that it’s Grey Bruce Farms subsidiary has been granted a cultivation license by Health Canada.
Run by long time cannabis advocate Deb Howlett, the newly license brings another woman into the cannabis public company world, which is always a good thing as there’s currently so few.
Thanks 🙂 It’s been a long road!! There’s been a few doubters along the way, but we made it! https://t.co/4F6K7JRZzI
— Deb Howlett (@GBFarmerDeb) July 5, 2019
GTEC verticals include Grey Bruce, Alberta Craft Cannabis (which is also sorted with a cultivation license, generating revenue, and awaiting a processing license), Zen Labs, Green-Tec BioPharma, 3PL Ventures (under construction), and Tumbleweed Farms (license approval pending).
Retail store locations are also being acquired.
The Grey Bruce facility is a 15,000 sq ft grow facility in Tiverton, Ontario.
GTEC stock has been under pressure for some time, but with the current market cap of $55 million, seems like a good deal in comparison to single license competitors of smaller square footage.
In other licensing news, two other companies were granted licenses today; IslandCanna Seeds, which doesn’t appear to exist anywhere online, and 9869247 Canada Limited, which is run by the Tykolis family not far from Niagara, Ontario.
The Tykolis clan – Tim, Terry, and Marianne Tykolis-Casey – are long time business operators in the Stevensville area, having run Stevensville Lawn Care for decades, and a greenhouse operation through Stevensville Garden Gallery, since 1955. Having engaged in a series of public works with the nearby city in recent years, they also run Safari Niagara Nature Park, so a cannabis cultivation facility wouldn’t be out of character, nor their scope of knowledge.
Congrats on all new license holders!
— Chris Parry
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