KINGSVILLE, ON, - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTC: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, is pleased to announce that it has received a standard processing licence from Health Canada.
"This new license will complement Greenway's B2B business model by allowing the company to provide value-added processing services, as well as allow Greenway to bring its own products to market," said Jamie D'Alimonte, CEO of Greenway. "Having the ability to consumer package cannabis will create a new revenue segment with greater gross margins."
"After seeing the issues that happened early on in cannabis legalization, we wanted to prove we could grow a great product at sustainably low prices before trying to take on creating a final product." Said Carl Mastronardi, President of Greenway. "Over the last 18 months we have proven out our value proposition and our cultivation expertise, all while finding strong partners to help bring that product to market. We will continue to work closely with all of our partners, and look forward to offering them new processing services."
"Our goal with the processing license is to provide additional services to current customers, but also to maximize revenue for a portion of our new growing space that will be ready for production soon. Greenway is increasing from a 6,000 to a 24,000 KG annual production capacity, and this is perfect timing to now have the ability to consumer package with the imminent expansion," said Darren Peddle, CFO of Greenway. "We believe that this licence will be instrumental in increasing revenue over time and accelerate our path to true profitability."
Source : Newswire.ca