Greater Cannabis Company Announces Retirement of Remaining Convertible Debt

Wednesday, 20. January 2021 14:57

BALTIMORE, MD, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The Greater Cannabis Company (GCAN), an innovator in the development and commercialization of cannabinoid delivery systems and cannabinoid products today announced the retirement of $1.2million in convertible notes inclusive of principal and accrued interest, simplifying the Company's capital structure as it positions itself for growth.

"The elimination of variable rate convertible notes has strengthened our position and simplified our capital structure as we look towards the future for the Company’s growth," commented Aitan Zacharin, CEO of Greater Cannabis. "We are focused on continuing to expand our product portfolio, distribution both domestically and abroad, as well as advancement of clinical research opportunities in cannabinoid therapeutics. The retirement of our debt is an important step for the Company as we continue to position ourselves as an innovator in a rebounding sector that has quickly become center stage once again.”

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About The Greater Cannabis Company

The Greater Cannabis Company (GCAN) is a fully reporting publicly traded biopharmaceutical company focused on the development and commercialization of innovative cannabinoid delivery systems. Greater Cannabis deploys its technology platform for use in the cannabis industry. The Company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other routes of cannabinoid administration. The technology is versatile in that patients can now receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using non-irritant oral eluting and transdermal patches. Greater Cannabis’ mission is to bring our technology to the global market through partnerships with leading cannabis and pharmaceutical companies, for the benefit of patients and consumers. More information on the Greater Cannabis Company and its technology can be found on the Company’s website, www.gcanrx.com.

Greater Cannabis Co. Disclaimer: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company's products and services, the ability to complete development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company's most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.

Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact: The Greater Cannabis Company, Inc.

443-738-4051
info@gcanrx.com
www.gcanrx.com


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