Green Technology Solutions Inc (OTCMKTS:GTSO) has made public that it has signed a Letter of Intent to acquire a controlling interest in Elevated industries, the later is also the company’s joint venture partner. Additionally, a recent law in Canada has opened the path for cannabis produces, like GTSO, to sell their products. GTSO has already started revising its strategy for serve the needs of cannabis patients in the region.
The new Canadian law has lowered the limits on the allowable forms of medical cannabis. This has given companies, like GTSO, to legally sell cannabis edibles and derivatives to patients. As per the reports from the company, GTSO had been observing the progress with the lawsuit and has developed its strategy for Canada around the results of these proceedings. A special set of edibles are currently under development by the company for the Canadian market.
GTSO and Elevated Industries have been working together to manufacture tailored products, utilizing edible cannabis. Some of these products are set to debut very soon. As per the CEO of GTSO, Wallace W. Brown, there will be four products initially and would specifically target the Colorado and US markets. He also hinted at including Canada in these plans as well. Additionally, Elevated Industries is already based in Canada and has been working under regulations to become one of the largest cannabis distributors in North America.
With GTSO planning to gain control over Elevated Industries, it can be expected that the company is planning to deliver on its plans for breaking into the cannabis market. Mr. Wallace stated that having a controlling interest in its manufacturing partner is the right place to start with. The cannabis edibles market in the US has been growing rapidly, with Colorado taking the lead. In this growing market, GTSO plans to take the role of a quality regulator, so consumers can have potent, consistent and safe edibles.
Green Technology Solutions Inc (OTCMKTS:GTSO) ended the June 24 session at a share price of $0.539, after reporting a gain of 17.17% and trading 366,054 shares in the market.