GTEC Enters Global Cannabis Market with Export Agreement to Israel
Kelowna, BC, March 08, 2021 (GLOBE NEWSWIRE) — GTEC Holdings Ltd. (TSXV:GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC”, the “Company” or “GTEC Cannabis Co.”) a multi-licensed producer of handcrafted, high quality cannabis, is pleased to announce the signing of an export deal pertaining to the Israeli medical cannabis market (the “Agreement”).Executes multi-year agreement to export a minimum of 500 KG annually to Israel, one of the world’s largest import markets for medical cannabisAgreement enables GTEC to enter into global distribution of its handcrafted ultra-premium flowerExport deal demonstrates the demand for GTEC products within Canada and globallyThe Company has entered into an agreement with Focus Medical Herbs Ltd. (“Focus Medical“), an Israeli medical cannabis company with which IM Cannabis Corp. (“IMC”) (NASDAQ: IMCC) has exclusive distribution agreements to export cannabis from Canada to Israel, subject to meeting all regulatory requirements both in Israel and Canada. Under the terms of this agreement, GTEC is expected to become a key supplier of cannabis to Focus Medical. The Company’s initial shipments of cannabis will be produced by its wholly-owned subsidiary, Grey Bruce Farms (“GBF”), located in Tiverton, Ontario, with the expectation that GTEC will export 500 to 1,000 KG per year.For additional information, please contact:
GTEC Cannabis Co.