Green Technology Solutions Inc (OTCMKTS:GTSO) initiated talks to form a new industry association that will provide regulation, certification and credibility to the fast-growing market of cannabis-infused edibles in North America. The company wants to create the group with Elevated Industries. It is a Canada-based entity that owns unique and rare formulations for frozen confections infused with cannabis extracts.
The venture
Green Technology entered into a joint deal with Elevated Industries to manufacture and commercialize new and innovative edibles products for the rising adult-use and medical pot markets expanding across the country. Wallace W. Browne, the Chief Executive said that the prime objective of Green Technology is to develop an edibles industry association based in Canada. It intends to launch the plan from Canada as it is working together with Elevated Industries which has numerous promising contacts and strong network in the cannabis sector. Once it settles in Canada, then it will b extended into the United States.
Mitigating concerns
Browne said with growth in legal medical marketplaces, the concerns related to quality of cannabis-infused edibles are growing. As of now, there is poor consistency in the distribution network, regulation system and potency in the industry. In addition, there is lack of knowledge due to which people still don’t have faith in growing cannabis industry.
The tasks
Green Technology Solutions Inc (OTCMKTS:GTSO) wants to bring together the several participants on a common platform to support the market. The group will include the firms that are actively involved in developing healthy, responsible and ethical cannabis-infused edibles as per the industry laid guidance, responsibilities and rules. The prime objective of industry association will be to create trust, credibility and awareness in the industry. It not only wants to make use of the growing cannabis ancillary market but also wants to implement a well regulated environment so that people can have faith in cannabis industry.
