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“This credit facility was only possible because of Carl and Jamie’s outstanding track record for operational efficiencies, financial performance, and successful execution of new ventures.”, remarked Darren Peddle, Chief Financial Officer. “The access to non-dilutive financing at the start-up phase is extremely rare and aligns with our efforts for minimal dilution to shareholders.”

The pricing of the Facility is a set margin over to BMO’s CAD Prime Rate or a Bankers’ Acceptance rate based on the applicable term, which may increase or decrease. The interest payable is expected to be in the low to high 5% per annum range.

Phase 1 includes retrofitting 43,000 square feet of cultivation area as well as 10,000 square feet for processing. Greenway estimates to produce 4,000 kgs of dried bud per annum, but will have the processing capacity for 30,000 kgs for additional expected production from Phase 2. Successive expansions will bring Greenway’s total footprint to 2,276,000 square feet for cannabis cultivation and 73,000 square feet for cannabis processing, with an annual design capacity of 210,000 kg.

About Greenway

Greenway’s founders, Carl Mastronardi and Jamie D’Alimonte, are award-winning, large-scale commercial greenhouse vegetable growers (www.delfrescopure.com). They are highly regarded for their extensive hydroponic expertise and North America’s only certified pesticide-free, greenhouse grown strawberry – the Yes!Berry. Greenway was founded with the mission to “Produce the Highest Quality Cannabis in the Highest Quantities at the Lowest Cost.” Greenway is positioning itself to become a dominant player in the cannabis industry. Learn more at www.greenway.ca.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191024005068/en/

Contacts

Konrad Pimiskern

Senior V.P. of Corporate Development, Director

info@greenway.ca

519-712-0311

Greenway.ca