GTEC pays off all debt
Published on April 15, 2021 by oz. staff
Kelowna-based cannabis producer GTEC Cannabis Co. is now debt-free.
The company behind BLK MKT and Tenzo announced this week it has fully repaid $6-million owed to NFS Leasing Canada.
GTEC says it has a current cash balance of about $19 million.
“We are extremely pleased to become one of the few debt free Companies within the sector, as we continue on our mission to become a leading producer of high-quality cannabis products in North America and globally,” says Norton Singhavon, founder and CEO at GTEC.
The Company has three fully licensed and operational facilities and is currently distributing cannabis through medical and recreational sales channels.
GTEC’s rec brands also include Cognōscente and Treehugger.