KINGSVILLE, ON - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) ("Greenway Greenhouse" or the "Company") is pleased to announce the initiation of expansion of their cultivation facility, termed "GW1". This expansion will increase the cultivation facilities flowering space from 41,750 ft2 to approximately 167,000 ft2, as well as increasing the processing space to 22,000 ft2.
"We are pleased to be able to announce that work has commenced on our expansion of our cultivation and flowering facility, GW1," said Carl Mastronardi, President of Greenway Greenhouse. "This expansion is paramount to Greenway, as it will increase our growing capacity to 24,000 KG a year. We have taken the methodical approach to expanding, making sure we don't put the cart before the horse."
"From the start, we had growth in mind. With experience scaling greenhouse cultivation companies to hundreds of acres, the team at Greenway Greenhouse has been waiting to demonstrate to the industry how a cultivator can scale sustainably and responsibly," said Jamie D'Alimonte, Chief Executive Officer of Greenway Greenhouse. "With our current facilities, and the access we have to future acreage at a low retrofit cost, Greenway Greenhouse can supply Canadians from coast to coast to coast."
"Since we got licensed, we have been able to move most of what we have grown," said Darren Peddle, Chief Financial Officer of Greenway Greenhouse. "We have run into issues a few times of having customers looking to buy, and we were in between crop cycles. With the expansion completed, our customers will have access to fresh product more readily, meaning our customers will need to wait less time between new batches becoming available."
After signing on all of the major contractors, Greenway Greenhouse is still expecting to be able to deliver the expansion on time and on budget, with the expanded areas beginning operation in Q1 2023.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
Source : Cision