Vancouver, British Columbia - TheNewswire - January 22, 2020 - Gaia Grow Corp. (TSXV:GAIA) (the "Company" or "Gaia") is happy to offer the following corporate update:
The Company's first sale of BioMass has entered final stages after very promising results from a test of one of its bales. One of the largest hemp processors in Canada has initiated a purchase order, requesting a truck load of bales for a full run. Provided another successful run, the processor has committed to purchasing a large portion immediately after. Following this initial step, the Company expects that this will be a long term and recurring business relationship.
The Company will provide further details of the transaction once they have been finalized.
In addition, various other offtake negotiations have also been maturing and similar results are expected moving forward. Timelines are reasonable and further contracts are expected to be completed imminently. Gaia has a quality product and timing is favorable to achieve a complete and total sale of our first crop.
"I am very proud of our team and excited to be a part of this announcement today" says Frederick Pels, CEO of Gaia. "We have been dedicated to delivering results to our shareholders since day one and with this first step finally complete, we now can showcase the results of that commitment. We have a clear path to revenue and are looking forward to continuing to build shareholder value with solid business principles and industry innovation."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the hemp industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
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