GTEC Announces Resignation of Kam Thindal from Board of Directors

KELOWNA, BC, Nov. 23, 2018 /CNW/ - GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) ("GTEC" or the "Company") announces that Kam Thindal has resigned from the board of directors effective today to pursue other interests. The Company would like to take this opportunity to thank Mr. Thindal for his service as a director of the Company.

"Kam has been a founding director of GTEC and I look forward to his continued involvement as a shareholder and friend of the Company," said Norton Singhavon, Founder, Chairman, and CEO of the Company.

"Norton and the GTEC team have done a commendable job in acquiring assets and positioning themselves as a truly vertically integrated cannabis company. I wish them the best in executing on their business plan and the recently announced merger," said Kam Thindal.

About GTEC

GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is a public corporation listed on the TSX Venture Exchange and based in Kelowna, British Columbia. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Alberta Craft Cannabis Inc. Grey Bruce Farms Inc., Tumbleweed Farms Corp., Zenalytic Laboratories Ltd., and Spectre Labs Inc.

To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co.

On behalf of the board,

Norton Singhavon
Founder, Chairman & CEO
[email protected]

Michael Blady
Co-Founder & Vice President
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE GreenTec Holdings

GTEC Holdings Ltd., 1-800-351-6358, [email protected]