SAN JOSE, Calif.--(BUSINESS WIRE)--As Green Technology Solutions, Inc. (OTCBB: GTSO) preps new product offerings to service the rising cannabis industry in the United States, ancillary business is now exploding in Uruguay, the South American nation that legalized cannabis in 2013. Some experts are calling Uruguay’s reforms the dawn of a new, international cannabis industry.
Though pharmacies in Uruguay have yet to begin selling cannabis, new ancillary businesses are cropping up constantly. There are currently 20,000 home growers in the country, as well as 15 cannabis clubs authorized by the government to grow up to 99 plants each, according to info released by the local Cannabis Studies Association (AECU). Thousands growing and consuming the plant in Uruguay now need supplies, equipment and education.
“It’s a wide-open market, and I believe it’s the first of many to come,” said GTSO CEO Wallace W. Browne. “We are witnessing the first steps toward a global cannabis market, and we are fully invested in making sure GTSO is among the leaders in this blossoming industry.”
In order to prepare for the rapidly approaching future of the international cannabis sector, GTSO signed a letter of intent earlier this summer to acquire all or a controlling interest in its joint venture partner, Elevated Industries—a Canada-based company poised to become a dominant supplier of cannabis-based edible recipes in the booming North American marketplace. The company creates and licenses edible recipes that are available in jurisdictions where the sale of cannabis-based products is legal.
As the global market for cannabis continues to grow, GTSO plans to keep building new tools to help wholesalers and retailers guarantee their edible products’ potency, consistency and safety to their customers.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc., which provides business support, delivery system products and horticultural technology support, continually introduces new products and services, enabling it to compete alongside GW Pharmaceuticals (OTCBB: GWPRF), INSYS Therapeutics, Inc. (NASDAQ: INSY) and ENDEXX Corp. (OTCBB: EDXC) and others in a booming industry expected to be $10 billion by 2018. A growth-oriented company, Green Technology Solutions Inc. (GTSO) explores the fast-growing cannabis market for resources, including but not limited to rare earth elements, precious metals and herbal supplements. For more information, visit www.gtsoresources.com/investors.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information 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, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.