PENTICTON, BC – October 16, 2023 – Green Mountain Health Alliance Ltd. (the “Company” or “Green Mountain”), is pleased to confirm receipt of its standard processing license from Health Canada. This new license allows the Company to process biomass into higher margin products such as packaged flower and pre-rolls.
“Securing a processing license represents an important step in the evolution of the business” said Green Mountain acting CEO, Salil Dhaumya. “This year has been all about stabilizing the business in the face of an industry downturn and the passing of former CEO Wade Attwood. Our main focus has been on restructuring our cultivation team and streamlining costs and expenses to ensure that we remain competitive in spite of challenging market conditions. We are beginning to develop solid sales channels and by securing our processing license at this time the Company is able to deepen those relationships and focus on higher value products.”
The cultivation team is taking advantage of our state of the art facility and under the guidance of Dr Mirza (Agriculture Hall of Fame), crop quality and yield continue to improve. We have included some recent images showcasing the team at work. Local shareholders who are keen to visit the facility are invited to contact Michele Lise to make arrangements.
Green Mountain’s AGM is scheduled to take place on 25th October and shareholders have been sent a circular confirming the date and time. Anyone unable to attend may request a video recording.
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This update contains forward-looking statements, which include, but are not limited to, statements concerning Green Mountain Health Alliance Ltd. and our plans and projections. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. In light of such risks, uncertainties and assumptions, the forward-looking events and circumstances discussed may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.