Green Mountain Completes $3.4 Million Financing

Green Mountain has secured $3.4 million in debt financing to complete phase 1 construction at its company-owned HWY 3A site in the Okanagan Valley.

 

PENTICTON, BC – September 30, 2020 – Green Mountain Health Alliance Ltd. (the “Company” or “Green  Mountain”), a medically-focused cannabis company, has secured $3.4 million in debt financing to complete phase 1 construction at its company-owned HWY 3A site in the Okanagan Valley. Construction is underway and will include a 4,300 sq.ft. processing facility and 18,000 sq.ft. of covered growing area.

This is the next step in the Company’s plan to build a total enclosed growing area of 125,000 sq. ft. and processing facilities totalling 29,000 sq. ft.

Green Mountain President, Wade Attwood, reports that upon completion of phase 1, the company will submit its evidence package to Health Canada to obtain a production license. He says:

“Green Mountain is pleased to secure this funding during such a challenging period. It is a testament to the strength and depth of our strategic alliances and validates the model that we are pursuing.”

This investment was made by the Manitoba Metis Federation (MMF) — through its division, Metis N4 Construction Ltd. headed by Jack Park — the MMF is the largest and most active Indigenous community in Canada. The MMF has been closely tied to Green Mountain since inception, and its long-standing President, Dr. David Chartrand, serves as a Green Mountain director.

“Canada’s indigenous people have been using medicinal plants for centuries, and our knowledge of natural healing far predates recent “discoveries” by the pharmaceutical industry.” N4 Chairman Jack Park said. “We believe that Green Mountain will play an important role in developing medical cannabis as a mainstream treatment, and this will have a major impact on the Metis people. Our close relationship with Green Mountain is highly valued.”

Green Mountain’s plans include developing into a fully integrated medical cannabis seed to sale enterprise. In addition, the Company plans to continue to expand its wholly owned subsidiary Greener Life Medical (GLM). GLM is a remote cannabis consulting and scripting platform which has been in operation for over a year. It has a growing patient base and innovative subscription model whereby for an annual charge patients have unlimited online access to a certified cannabis practitioner. Green Mountain is also in the process of developing partnerships with cannabis research teams and health provider institutions which it believes will allow the company to take novel formulations to clinical trial.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

For more information, please contact:

Michele Lise, Investor Relations, Green Mountain

1-833-291-GMTN

mlise@gmtn.ca  

FREQUENTLY ASKED QUESTIONS

FAQs

It depends on the province. Most require you to be 19. Alberta's minimum age is 18 and Quebec's is 21.

Our full legal name, which appears on our licences and formal documents, includes “Health Alliance,” while our trade name is Green Mountain.

Our operations are based in the Okanagan region of British Columbia, which features heavily wooded surroundings, clean air and spring water.

Our cultivation and production teams are led by plant scientists, including an agriculture Hall of Famer. Every input is carefully reviewed and adjusted to support consistent products. See our Latest News section for in-depth articles exploring our processes.

Terpenes contribute to the aroma and flavour profile of cannabis. The dry climate of the Southern Okanagan supports terpene expression in our flower. Our products typically test in the 2–4% range.

We draw irrigation water from our on-site aquifer. The spring water is structured using a Schauberger vortex. The device mimics how water naturally swirls in a mountain stream, which some growers believe helps plants absorb it more efficiently. All our flower is hang-dried and non-irradiated unless required by law.

Our products are carried by authorized retailers in British Columbia, Ontario, Saskatchewan, Alberta, and Manitoba.

Yes, provided you meet the age restrictions of the provinces you are visiting and do not carry more than the 30-gram limit.

All our products undergo mandatory Government approved laboratory testing for potency, terpene levels, pesticides, heavy metals and contaminants in accordance with Health Canada requirements.

Being vertically integrated allows us to manage the full process from cultivation to market without needing to trust third-party intermediaries.

No. Impairment laws are strict. Check your local laws when it comes to driving or operating machinery after using cannabis.

Our largest shareholder is the Manitoba Metis Federation (MMF). We are aligned with their values of purity and social cohesion.

Tourists who meet the legal age requirement in the province where they are located may purchase cannabis. Cannabis cannot be taken across international borders, including to the United States.

Start low and go slow. Speak with a budtender or review the summaries in our Product Portfolio.