GTEC Holdings (GTEC.C) joins the slender ranks of companies in the cannabis space with multiple licenses at hand, with the news Friday afternoon that it’s Grey Bruce Farms subsidiary has been granted a cultivation license by Health Canada.
Run by long time cannabis advocate Deb Howlett, the newly license brings another woman into the cannabis public company world, which is always a good thing as there’s currently so few.
GTEC verticals include Grey Bruce, Alberta Craft Cannabis (which is also sorted with a cultivation license, generating revenue, and awaiting a processing license), Zen Labs, Green-Tec BioPharma, 3PL Ventures (under construction), and Tumbleweed Farms (license approval pending).
Retail store locations are also being acquired.
The Grey Bruce facility is a 15,000 sq ft grow facility in Tiverton, Ontario.
GTEC stock has been under pressure for some time, but with the current market cap of $55 million, seems like a good deal in comparison to single license competitors of smaller square footage.