BALTIMORE, MD, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The Greater Cannabis Company (GCAN), an innovator in the development and commercialization of cannabinoid delivery systems and cannabinoid products today announced the retirement of $1.2million in convertible notes inclusive of principal and accrued interest, simplifying the Company's capital structure as it positions itself for growth.

"The elimination of variable rate convertible notes has strengthened our position and simplified our capital structure as we look towards the future for the Company’s growth," commented Aitan Zacharin, CEO of Greater Cannabis. "We are focused on continuing to expand our product portfolio, distribution both domestically and abroad, as well as advancement of clinical research opportunities in cannabinoid therapeutics. The retirement of our debt is an important step for the Company as we continue to position ourselves as an innovator in a rebounding sector that has quickly become center stage once again.”

About The Greater Cannabis Company

The Greater Cannabis Company (GCAN) is a fully reporting publicly traded biopharmaceutical company focused on the development and commercialization of innovative cannabinoid delivery systems. Greater Cannabis deploys its technology platform for use in the cannabis industry. The Company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other routes of cannabinoid administration. The technology is versatile in that patients can now receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using non-irritant oral eluting and transdermal patches. Greater Cannabis’ mission is to bring our technology to the global market through partnerships with leading cannabis and pharmaceutical companies, for the benefit of patients and consumers. More information on the Greater Cannabis Company and its technology can be found on the Company’s website, www.gcanrx.com.