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GTEC Signs LOI With TheraProducts to Pursue Cannabis Edibles & Beverages Market
GTEC Signs LOI With TheraProducts to Pursue Cannabis Edibles & Beverages Market ...
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[{"type":"text","content":"\n\n\n\nGTEC Signs LOI With TheraProducts to Pursue Cannabis Edibles & Beverages Market\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGTEC Signs LOI With TheraProducts to Pursue Cannabis Edibles & Beverages Market\nCanada NewsWire\nKELOWNA, BC, July 24, 2018\n\n\n\nKELOWNA, BC, July 24, 2018 /CNW/ - GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) (\"GTEC\" or the \"Company\"), is pleased to announce that the Company has signed a letter of intent to create a joint venture with TheraProducts Canada (\"TheraProducts\"), to develop and commercialize cannabis-based products leveraging OLEO™ microencapsulation technology.    \n\n\n \n \n\n \nTo date the ability to safely and consistently dose cannabinoids has been an issue for edible products. Moreover, odour, taste and solubility issues exacerbate the challenges associated with successfully marketing these products.  OLEO's microencapsulation technology addresses all of these concerns. The patent pending technology of OLEO™ enrobes cannabis oil distillates and isolates and converts them to hot and cold water soluble, odor-free, taste-free powder that can be added to a wide variety of food and beverage products.   Accordingly, OLEO technology is ideally suited for the future edibles and beverages market in Canada, and other countries with legalized access to cannabis.\n\nUnder the terms of proposed joint venture, GTEC will be responsible for the supply and conversion of cannabis oils to OLEO-based products, in its licensed facilities.  TheraProducts will supply the equipment and IP required to produce the OLEO products.  The parties have also agreed to a formula for splitting the gross margin provided by the JV.\n\nUnder the terms of the Letter of Intent, both parties will work towards finalizing a Definitive Agreement on or before September 1st, 2018.  Financial terms of the arrangement have not been disclosed. \n\n\"In GreenTec we have found a licensed producer with a vision that is in parallel with ours given their focus on the pharma...