GTEC (TSXV: GTEC) (OTC Pink: GGTTF) Enters into Agreement to Facilitate Acquisition of Cannabis Genetics

GTEC Cannabis

Kelowna, BC – November 16, 2018 – GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) (“GTEC” or the “Company”) is pleased to announce that is has executed an agreement to facilitate acquisition of cannabis genetics, via its wholly owned subsidiary, Tumbleweed Farms Corp. (“Tumbleweed”).

Tumbleweed signed an agreement with 1183279 B.C. Ltd., an Okanagan-based cannabis consulting firm (the “Consultant”), dated October 19, 2018, in order to facilitate acquisition of cannabis genetics when it acquires its cultivation license.  This process is being done in accordance with the provisions of the Cannabis Act, and its associated regulations.

The Consultant will assist Tumbleweed both in acquiring and cultivating premium quality cannabis cultivars.  In return for these services, the Company will provide the Consultant with 200,000 GTEC shares (for specific cultivars) and a two-year royalty payment (for other cultivars).

Superior genetics are the cornerstone of premium quality cannabis,” said Norton Singhavon, Chairman & CEO of GTEC. “This agreement represents a key element of our plan to become Canada’s leading vertically integrated craft cannabis company.

The agreement between GTEC and 1183279 B.C. Ltd. remains subject to final approval of the TSX Venture Exchange.

About GTEC

GTEC is an emerging vertically integrated, diversified cannabis company founded in 2017. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Alberta Craft Cannabis Inc. Grey Bruce Farms Inc., Tumbleweed Farms Corp., Zenalytic Laboratories Ltd., and Spectre Labs Inc.

To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are 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 statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.

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Source: SpotLight Growth Canabis
GTEC (TSXV: GTEC) (OTC Pink: GGTTF) Enters into Agreement to Facilitate Acquisition of Cannabis Genetics
SpotLight Growth Canabis

Matt Rego
Matt is the Founder and CEO of Spotlight Growth. Prior to launching Spotlight Growth, Matt worked six years within the investor relations industry, most recently serving as Vice President of Sales and Marketing at Global Discovery Group, Inc. In addition, Matt has been a financial writer and analyst since 2010 and investing in the stock market since 2007. Articles and content have appeared on well-known financial websites, such as: Investopedia, Google Finance, Yahoo Finance, ValueWalk, Minyanville, Seeking Alpha, CBS MoneyWatch, Investment Underground, Emerging Growth, Blasting News, GenYWealth, and more. In addition, Matt has received an honorable mention in Barrons’ and the New York Post. Matt graduated from the University of Minnesota with a Bachelor’s Degree in Finance.

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