CAN: Greenway signs sales deal with Green Hedge

Greenway Greenhouse Cannabis Corporation, a cultivator of high-quality greenhouse cannabis for the Canadian market, has signed an agreement with Green Hedge to act as an outside sales force, providing coverage to licensed cannabis retailers and provincial wholesalers across Canada.

Green Hedge is a cannabis sales and distribution company headquartered in Toronto, Ontario, led by Andrew von Teichman. Mr. von Teichman has over two decades of entrepreneurial experience in distribution and consumer packaged goods and has established Green Hedge as one of Canada's top cannabis distributors. Operating in 9 provinces with more than 2,800 active retail partners in Canada, the company has achieved retail penetration rates in excess of 93% with their customers.

"Green Hedge is a great fit for Greenway, giving us instant access to thousands of stores across Canada in every major market in the most cost-effective manner," said Jamie D'Alimonte, CEO. "As Greenway brands launch into the consumer market, having one of the largest distribution networks in Canada open to us will help position us for success."

Greenway recently announced that its first consumer brands have been accepted into the Ontario Cannabis Stores Winter Launch.

"We have been watching Greenway's success in the market over the past two years and have admired the quality and consistency of their product. To be a part of their brand rollout in 2024 is very exciting for our team, and we believe that our collective experience bringing new brands to market will make for an exceptional launch," said von Teichman.

"Investors are impressed with Greenway's cost controls for production as well as our administration and marketing expenses. This partnership with Green Hedge allows us to tap into their developed relationships with retailers across the country while minimizing the marketing expenses for Greenway," said Darren Peddle, CFO. "It is another prudent step taken to scale up our branded cannabis sales and strive for significant profitability."