GTECThis is from 2 days ago. GTEC has afeww items on Cannmart. Hopefully we helped witht he supply chain, but I don't knoiw if we do.
Kelowna, BC, Feb. 12, 2020 (GLOBE NEWSWIRE) -- GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”), a multi-licence producer of premium indoor cultivated cannabis, is pleased to present the following updates on production and sales:
Production and Sales Update for the Fourth Quarter of fiscal 2019
unaudited ending November 30, 2019
- Produced 434 kilograms (“KG”) of cannabis
- Sold 280 KG of cannabis, with estimated weighted average selling prices of:
- 256 KG of business-to-business (“B2B”) sales at $5.25 per gram for flower and $2.50 per gram for secondary products (trim and popcorn)
- 24 KG of recreational cannabis sales at $9.25 per gram
- An estimated cash cost between $2.15 - $2.20 per gram. The increased cash cost was due to labour and packaging relating to recreational sales
- The final week of Q4 saw an initial recreational product launch of 24 KG, primarily produced at Grey Bruce Farms
- The Company will report its fiscal 2019 audited results on Tuesday March 17, 2020
In Q4, the Company commenced a transition from selling its cannabis produced from commercial cultivars on a B2B wholesale basis, to selling cannabis produced from its unique cultivars in a consumer packaged good (“CPG”) format via Provincial supply chains. As a result of logistical factors, certain shipments into Provincial sales channels, which were originally anticipated to ship in Q4 2019 occurred early in Q1 2020.