NEW YORK, February 18, 2020–GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end CBD food and drinks marketplace, is excited update current and prospective shareholders on the precise timing and scope of the Company’s imminent launch of the gold standard in the $19 billion premium and CBD-infused k-cup compatible subscription coffee package marketplace. The Company is now committed to a full product launch on March 1, 2020.
GenTech CEO David Lovatt commented, “I am extremely pleased with our brand development and implementation thus far, and I feel supremely confident that we have put in place a logistics process capable of delivering at scale as needed with no irregularities or hiccups. We have provisioned for the best-case scenario in terms of order volume while taking no up-front balance sheet risk, which represents a major win for our shareholders.”
The Company has timed this launch to accommodate both the inclusion of a fully-vetted, state-of-the-art “coffee capsule” version of its premium and CBD-infused subscription coffee package product offering as well as the full execution of a partnership agreement with a large provisioning partner that will remove up-front balance sheet risk for GenTech shareholders during the initial scaling-up process as subscribership grows, even if the initial market response dramatically surpasses aggressive estimates for incoming orders, supplies, and shipping over coming months.
Management was adamant that a single-cup brewing version be included at launch given the rising popularity of this format for coffee consumers in the US. As of last year, 42% of consumers in the US owned a single-cup coffee brewing system. Coffee shop chains such as Starbucks and Dunkin’ Donuts have started to produce their own single-cup coffee capsules to compete with Keurig and private label brands. Single-cup coffee generated retail sales of up to $3.88 billion in the US in 2017 alone. Starbucks and Folgers have a single-cup coffee penetration rate of 31.6% and 26.3%, respectively, in American households.
“We have lined up a significant marketing budget to kick things off,” continued Lovatt. “We didn’t want to rush this process. All the cylinders need to firing at once to exploit what we see as a defining market opportunity in 2020. By March 1, we will be ready to service any scale of demand with a superior product offering across all formats, flavors, and versions for the premium and CBD-infused coffee marketplace. A big part of the process has been on the logistics side of the equation, developing the means to deliver to subscription clients, month after month, with market-leading differentiated quality, providing some of the best and most interesting coffees on the market. We are now ready to deliver on those terms. The world is going to change for the more than 150 million coffee drinkers in the US on March 1.”
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The company is creating a national chain of Hemp Centric Coffee Shop Retail Spaces where patrons can relax, drink CBD infused Teas and Coffees, try various own-brand products and experience holistic education and classes. The company is also building an extensive outreach program working with medical practitioners across the country in their own locations to educate their patients and increase awareness of the benefits of THC free CBD Products. All of this is offered under the brand ‘The Healthy Leaf’.
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
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