Pressure Technologies plc Announces Disposition of Common Shares of Greenlane Renewables Inc.

VANCOUVER, British Columbia, June 11, 2020 (GLOBE NEWSWIRE) -- Pressure Technologies plc ("Pressure Technologies") announced today that through a series of trades on June 10, 2020, it has disposed of ownership and control of 2,525,610 common shares ("Greenlane Shares") in the capital of Greenlane Renewables Inc., representing approximately 2.75% of the issued and outstanding Greenlane Shares on an undiluted basis. Such disposition was made at an average price of $0.39 per Greenlane Share through the facilities of the TSX Venture Exchange for total consideration of $984,987.90.

Prior to the disposition, Pressure Technologies had ownership and control over 14,282,760 Greenlane Shares and 7,141,380 warrants to purchase Greenlane Shares ("Warrants"), representing approximately 15.57% of the issued and outstanding Greenlane Shares on an undiluted basis and approximately 21.67% on a partially diluted basis (assuming the exercise of the Warrants only).

As a result of the disposition, Pressure Technologies now has ownership and control over 11,757,150 Greenlane Shares and 7,141,380 Warrants, representing approximately 12.81% of the issued and outstanding Greenlane Shares on an undiluted basis and approximately 19.11% on a partially diluted basis (assuming the exercise of the Warrants only).

Pressure Technologies is issuing this press release pursuant to the requirements of National Instrument 62-103. A copy of the related early warning report (the "Report") will be issued by Pressure Technologies and will be filed on the SEDAR website (www.sedar.com) under the profile for Greenlane Renewables Inc. For further information or to obtain a copy of the Report, please contact Pressure Technologies as follows:

Pressure Technologies plc
Unit 6B Newton Business Centre
Newton Chambers Road
Chapeltown, United Kingdom
S35 2PH
Telephone: [phone]