GCAN to Explore Strategic Alternatives in Artificial Intelligence and Quantum Computing

Rhea-AI Summary

Greater Cannabis Company (OTC: GCAN) has announced its exploration of strategic alternatives in Artificial Intelligence and Quantum Computing sectors while maintaining its existing biopharmaceutical business. The company is evaluating various options including potential sale, merger, or strategic business combinations in response to interest from companies developing cutting-edge technologies.

CEO Aitan Zacharin indicated that multiple companies in these emerging technology sectors have approached GCAN expressing interest in potential mergers. The company emphasizes that while it's exploring these opportunities to maximize shareholder value, there's no guarantee that any transaction will be completed or that favorable terms will be achieved. No specific timeline has been set for completing this evaluation process.

Positive

• Multiple companies have expressed interest in potential merger opportunities
• Company maintains existing biopharmaceutical business while exploring new growth avenues
• Expansion into high-growth AI and quantum computing sectors

Negative

• No guarantee of successful transaction completion
• No defined timeline for strategic evaluation process
• Uncertainty regarding terms and conditions of potential deals

• Company today announced a major strategic step forward as it explores new growth avenues
• Artificial Intelligence (AI) and Quantum Computing industries represent multi-trillion dollar market opportunities^1,2
• Company is committed to maximize shareholder value through evaluation of strategic options
  

BALTIMORE, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Greater Cannabis Company, Inc. (“GCANRx” or the “Company”) (OTC: GCAN) a publicly traded biopharmaceutical company pioneering development of next generation therapeutics would like to update its shareholders that has initiated a process to explore strategic alternatives to maximize shareholder value. The Company will continue to pursue its existing biopharma lines of business while evaluating a range of strategic options to maximize value for its shareholders. The business fields of quantum computing and AI are seen as the next frontier in emerging technologies, and have quickly developed into multi-billion dollar industries.

Aitan Zacharin, Chief Executive Officer, had this to say, “There have been a number of companies focused on developing these cutting edge technologies who have approached GCAN expressing interest in a potential merger, and as part of our fiduciary obligation to our shareholders we will explore these options. We look forward to updating our shareholders with continued developments.”

As part of the evaluation process GCAN will explore potential strategic alternatives that may include, but are not limited to a sale, merger, strategic business combination or other transaction. The Company cannot assure that its exploration will result in a transaction or that any transaction, if pursued, will be completed on attractive terms, if at all. The Company has not set a timetable for completion of the evaluation process. GCAN will make further announcements in accordance with its ongoing disclosure obligations and pursuant to applicable laws and regulations.

ENDS

For GCANRx Investor Relations inquiries visit www.gcanrx.com, or contact info@gcanrx.com. To receive the latest information about GCANRx sign up to the investor email at https://bit.ly/2ZNlBoj or follow @GCANRX on Twitter.

¹ https://www.mckinsey.com/featured-insights/the-rise-of-quantum-computing
² https://www.bloomberg.com/company/press/generative-ai-to-become-a-1-3-trillion-market-by-2032-research-finds/

About Greater Cannabis Company: The Greater Cannabis Company (OTC: GCAN), (“GCANRx” or the “Company”) is a publicly traded clinical stage biopharmaceutical company focused on the development of new and effective cannabinoid therapeutics. The Company conducts medical research, and is pursuing clinical trials, to develop innovative cannabis-based treatments for various medical conditions and their symptoms with an initial focus on neuropsychiatric disorders. GCANRx’s mission is to bring its products to the global market for the benefit of patients seeking better solutions for their unmet medical needs.

Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact: The Greater Cannabis Company, Inc.
443-738-4051
info@gcanrx.com
www.gcanrx.com

FAQ

What strategic alternatives is GCAN exploring in 2025?

GCAN is exploring strategic alternatives including potential sale, merger, or strategic business combinations in the Artificial Intelligence and Quantum Computing sectors while maintaining its existing biopharmaceutical business.

How will GCAN's strategic exploration affect current shareholders?

The strategic exploration aims to maximize shareholder value, though the company cannot guarantee that any transaction will be completed or that favorable terms will be achieved.

What industries is GCAN targeting for potential mergers in 2025?

GCAN is targeting the Artificial Intelligence and Quantum Computing industries, which are described as multi-billion dollar emerging technology sectors.

Has GCAN set a timeline for completing its strategic evaluation?

No, GCAN has not set a specific timeline for completing the strategic evaluation process.

What companies have approached GCAN for potential mergers?

While multiple companies developing cutting-edge technologies have approached GCAN, specific company names have not been disclosed in the announcement.