These States Could Legalize Weed in 2021

Source: Shutterstock 2020 was a big year for marijuana legalization. Every single marijuana legalization initiative that was on the November 2020 ballot was successful. Four states passed laws allowing adults […]

High-end cannabis producer GTEC states good income that is net

Kelowna, British Columbia-based GTEC Holdings reported net income from operations of 282,000 Canadian dollars ($223,600), reversing a net loss of CA$8.3 million in the previous year, according to full-year and fourth-quarter results released Wednesday.

GTEC’s net revenue for the year was CA$7.9 million, a increase that is substantial 2019’s CA$2.4 million.

On A basis that is quarterly GTEC’s adult-use sales grew steadily, ending the year with fourth-quarter CA$1.9 million in sales for the three months ended Nov. 30, 2020.

GTEC’s Positive income that is net in comparison to a lot of large-scale manufacturers in Canada which have reported huge amounts of bucks in losings in the last few years while they struggled to conform to an evolving market.

Some smaller manufacturers, regarding the other side, happen in a position to concentrate their companies and pivot more gracefully.

In 2020, GTEC offered its final staying asset that is retail a strategic review.

“The company does not believe that it can achieve sustainable advantage that is competitive the retail cannabis area, contending against bigger rivals with a stronger existence in this sector,” GTEC noted in a disclosure.

The company’s shares are traded regarding the TSX Venture Exchange underneath the ticker expression GTEC.

Virginia joins 15 other states in legalizing marijuana

February 28, 2021 by AggregatedNews Leave a Comment The Virginia Legislature approved adult-use marijuana legalization Saturday in a historic vote marking the first state in the Old South to embrace […]