Greenway Expands Ontario Product Line with New SKUs

Rhea-AI Summary

Greenway Greenhouse Cannabis (GWAYF) has announced the expansion of its Ontario product line with two new MillRite SKUs. The company is introducing a new 10x0.35g pre-roll SKU of Lavender Haze, building on the success of their 2x0.5g pre-rolls which ranked #2 in brand and SKUs since launch.

Additionally, Greenway is entering the milled flower market with a new 14g Blue Crush SKU under the MillRite brand, positioned as an 'all flower, no filler' premium quality option at milled-flower prices. The company has also issued 295,792 common shares at $0.30 per share to Abingdon Capital as payment for corporate-finance advisory services.

Positive

• Strong market performance with #2 ranking in 2x0.5g pre-roll category
• Product line expansion into new market segments
• Strategic entry into milled flower market with premium positioning

Negative

• Share issuance of 295,792 common shares causing dilution

KINGSVILLE, ON, Jan. 28, 2025 /PRNewswire/ - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, is pleased to announce that two new MillRite SKUs will be available for purchase in Ontario in the coming weeks.

Greenway is expanding its MillRite Lavender Haze product line with a new 10x0.35g pre-roll SKU. After the success of our 2x0.5g pre-roll SKUs in Ontario (#2 ranked brand, #2 ranked Indica SKU and #2 ranked Sativa SKU since launch), Greenway is excited to be bringing its unique quality to cost ratio to this new size segment.

As well, Greenway is launching a 14g milled-flower SKU, called Blue Crush. This is Greenway's first time entering into the milled flower portion of the consumer market. Blue Crush is being released under the MillRite brand, as an 'all flower, no filler' option for consumers that are looking for premium quality flower aroma and potency at milled-flower prices.

"Greenway is expanding into some new sizes and formats, with a new 10x0.35g Lavender Haze pre-roll, and a 14g milled-flower offering called Blue Crush," said Jamie D'Alimonte "We have received positive feedback on all of our pre-rolls to date, having achieved the number two ranked brand and SKUs in the 2x0.5g category since we have launched, and we see the 10x0.35g category as the next place we want to target. Additionally, we saw room for an 'all flower, no filler' product that doesn't cut any corners, which our milled-flower will target. Every gram is processed to the same standards as our whole flower bud, and we believe consumers will be able to feel the amount of passion and care that goes into every jar."

Issuance of Shares

The Company is pleased to announce that, pursuant to its engagement letter dated June 4, 2024, with Abingdon Capital Corporation, an arm's length consultant (the "Consultant"), the Company has issued the Consultant and its assignees an aggregate of 295,792 common shares in the capital of the Company (the "Common Shares") at a deemed price of $0.30 per Common Share. The Common Shares were issued in satisfaction of a portion of the monthly work fee owed to the Consultant as consideration for the provision of corporate-finance advisory services. All Common Shares issued will be subject to a hold period of four months and a day from the date of issuance in accordance with applicable CSE policies and Canadian securities laws.

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.

About Greenway

Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on Greenway.ca and updates can be followed on Instagram, Twitter / X, Facebook / META, and LinkedIn.

The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding the MillRite SKUs, and the Company's beliefs, plans, expectations, future, strategy, objectives, goals and targets, the development of future operations, and orientations regarding the future as of the date of this news release. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward- looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.

Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, and includes those risks described in the Company's final prospectus dated September 3, 2021, a copy of which is available under the Company's profile at www.sedarplus.ca. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.

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SOURCE Greenway Greenhouse Cannabis Corporation

FAQ

What new products did GWAYF announce for the Ontario market?

GWAYF announced two new MillRite products: a 10x0.35g Lavender Haze pre-roll SKU and a 14g Blue Crush milled-flower SKU.

How has GWAYF's existing pre-roll product performed in Ontario?

GWAYF's 2x0.5g pre-rolls have achieved #2 ranked brand status and #2 ranked positions in both Indica and Sativa SKUs since launch.

What is the price per share of GWAYF's recent share issuance to Abingdon Capital?

The shares were issued at a deemed price of $0.30 per Common Share.

How many common shares did GWAYF issue to Abingdon Capital ?

GWAYF issued 295,792 common shares to Abingdon Capital and its assignees.

What differentiates GWAYF's new Blue Crush milled-flower product?

Blue Crush is marketed as an 'all flower, no filler' option, processed to the same standards as whole flower bud, offering premium quality at milled-flower prices.