Penticton’s Green Mountain Completes $3.4 Million Financing

October 1, 2020

Cannabis Company Secures $3.4 Million In Debt Financing To Complete Phase 1 Construction

PENTICTON –– Green Mountain Health Alliance Lt., 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. “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,” said Attwood.

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.



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