Greenway enters supply agreement with 4C Labs

Executive Summary

• Greenway Greenhouse Cannabis Corp. entered into an international supply agreement with 4C Labs, a UK-based medical cannabis company, to supply high-quality dried flower products.
• The company also announced the issuance of 337,507 common shares to Abingdon Capital Corp. to satisfy a portion of monthly work fees owed for corporate-finance advisory services.

Key Details

• Supply Agreement Terms:
  • Counterparty: 4C Labs (leading importer and distributor of cannabis-based pharmaceuticals in the United Kingdom).
  • Product: High-quality, dried flower product.
  • Strategic Rationale: Access to faster-growing international markets with better margins than the Canadian domestic market; leveraging Canadian cannabis as the "gold standard" for quality, safety, and value.
• Share Issuance Details:
  • Recipient: Abingdon Capital Corp. (arm's-length consultant) and its assignees.
  • Quantity: Aggregate of 337,507 common shares.
  • Consideration: Satisfaction of a portion of the monthly work fee owed for corporate-finance advisory services.
  • Price: Deemed prices between $0.20 and $0.29 per common share.
  • Basis: Pursuant to engagement letter dated June 4, 2024.
  • Restrictions: All shares subject to a hold period of four months and a day from the date of issuance.

Notable Quotes

• Carl Mastronardi, President of Greenway: "For Greenway, working with international partners opens us up to the fastest-growing markets around the world, which should provide better margins than the current Canadian domestic market... Our product is perfectly suited to help them deliver on their unique value proposition to U.K. patients."
• Greg Dobbin, CEO of 4C Labs: "Greenway has developed into a premier medical cannabis grower... They offer outstanding medical cannabis products at a very competitive price, which the patients of the U.K. will appreciate."