GTEC to Rebrand as Avant Brands and Graduate to Toronto Stock Exchange
08 Julho 2021 - 6:00PM
GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (the
“
Company”, “
GTEC” or “
GTEC Cannabis Co.”) a
multi-licensed producer of handcrafted, high quality cannabis
products, is pleased to announce that it has received approval from
the Toronto Stock Exchange (the “
TSX”) to graduate from the
TSX Venture Exchange (the “
TSXV”) and list its common shares
and warrants expiring on March 30, 2024 on the TSX. Trading will
commence on July 12, 2021. Concurrent with the graduation to the
TSX, the Company also expects to change its name to “Avant Brands
Inc.”“Graduating to the TSX highlights our growth and ability to
execute. Since 2017, we have demonstrated our commitment to
providing industry-leading, innovative products while never
compromising the quality or consistency that we are known for,”
said Norton Singhavon, Founder and CEO of the Company. “We believe
that a TSX listing recognizes our strong commitment to corporate
governance and provides us with exposure to a broad new investor
base that will enhance the liquidity of our common shares and
warrants.”GTEC is expected to rebrand to Avant Brands Inc
(“
Avant Brands”) at market open on July 12, 2021. Management
believes that the rebrand will further align and strengthen the
Company's identity as it continues its pursuit to be a North
American leader in handcrafted and highly sought-after cannabis
brands. The Avant Brands website is anticipated to be live at
www.avantbrands.ca when markets open on July 12, 2021.In connection
with the rebranding, the Company’s common shares and warrants will
commence trading on the TSX under the trading symbols “AVNT” and
“AVNT.W”, respectively, effective at the opening of the markets on
July 12, 2021. In conjunction with listing on TSX, the common
shares and warrants will be voluntarily delisted from the TSXV
effective upon commencement of trading on the TSX.The Toronto Stock
Exchange is the largest and most senior exchange in Canada, third
largest in North America after the New York Stock Exchange (NYSE)
and the Nasdaq and the tenth largest in the world according to
Statista Research. Founded in 1861, the TSX is Canada's premier
stock exchange with more than 1,500 listed companies and is home to
Canada’s largest corporations. The TSX maintains the highest
standards in Canada, in terms of listing, reporting, and governance
requirements.
About GTEC Cannabis Co.GTEC Cannabis Co.
cultivates, markets, and distributes handcrafted, high quality
cannabis products. The Company has three fully licensed
and operational facilities and is currently distributing
cannabis through medical and recreational sales channels.GTEC’s
premium quality recreational cannabis
brands includes; BLK MKT™, Tenzo™, Cognōscente™
and Treehugger™, which are crafted from unique cultivars, and
sold in British Columbia, Ontario, Saskatchewan, Manitoba and
Yukon. The Company’s medical cannabis brand, GreenTec™, is
distributed nationwide to qualified patients through
its GreenTec Medical website and various licensed
partners.GTEC is a publicly traded corporation, listed on the TSXV
(GTEC), OTCQB Venture Market (GGTTF) and Frankfurt Stock Exchange
(1BUP). The Company’s headquarters is located in Kelowna,
British Columbia and has operations in British Columbia, Alberta
and Ontario.To learn more about the Company or to access the most
recent Corporate Presentation, please visit our website
at www.gtec.coNeither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain
“forward-looking information” as defined under applicable Canadian
securities legislation, including statements regarding the plans,
intentions, beliefs and current expectations of the Company with
respect to future business activities and operating performance.
Forward-looking information is often identified by the words "may",
"would", "could", "should", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" or similar expressions and includes
information regarding: the trading of the common shares and
warrants on the TSX; the delisting of the common shares and
warrants from the TSXV; the anticipated name change of the Company
and the timing thereof; the timing that the Company’s new website
will be available; the impact of the listing on the TSX; and
expectations for other economic, business, and/or competitive
factors. Forward-looking information is necessarily based
upon a number of estimates and assumptions that, while
considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking information. Examples include
statements that the Company will operate in a fiscally
disciplined manner; build long-term shareholder value; reduce
operational expenses; or increase its revenue and gross
margins.Investors are cautioned that forward-looking information is
not based on historical fact but instead reflects management’s
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although the Company believes that the expectations reflected
in such forward-looking information are reasonable, such
information involves risks and uncertainties, and undue reliance
should not be placed on such information, as unknown or
unpredictable factors could have material adverse effects on future
results, performance or achievements of the Company. Among the key
factors that could cause actual results to differ materially from
those projected in the forward-looking information are the
following: regulatory and licensing risks; changes in the timing
and process for delisting the common shares and warrants from the
TSXV and listing on the TSX; the actual impact of the listing on
the TSX; changes in consumer demand and preferences; changes in
general economic, business and political conditions, including
changes in the financial markets; the global regulatory landscape
and enforcement related to cannabis, including political risks and
risks relating to regulatory change; compliance with extensive
government regulation; public opinion and perception of the
cannabis industry; the impact of COVID-19; and the risk factors set
out in the Company’s annual information form dated March 16, 2021,
filed with Canadian securities regulators and available on the
Company’s profile on SEDAR at www.sedar.com. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or expected.
Although the Company has attempted to identify important risks,
uncertainties and factors that could cause actual results to differ
materially, there may be others that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking information, which
speak only as of the date of this news release. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result
of new information, future events or otherwise, except as
required by law.
For additional information, please contact:
GTEC Cannabis Co.
1-800-351-6358
contact@gtec.co
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