GREENWOOD VILLAGE, CO--(Marketwired - Dec 5, 2016) - CannaGrow Holdings, Inc. (
Delmar Janovec, CEO, states, "On Wednesday, December 30, 2016, the Huerfano County Land Use Office & Building Authority approved and issued a permit to NuGro Industries for the construction of three (3) additional climate-controlled Ranger Series 2000 Greenhouses. Adding 8,640 square feet of production capabilities to the Buffalo Ranch Facility #1, we will now complete Phases I & II of the Master Plan for the first five-acre footprint. We are pleased to add that Latcon Corp., http://www.latconcorp.com/, has been retained as the General Contractor to provide oversight on the project, and Butte Valley Construction LLC will be performing the grading and site preparation. Both firms are regional leaders in their respective fields and they were instrumental in the completion of the existing facilities."
Dr. John P. Janovec, COO, added, "With almost 100% of my working day behind Category One Botanicals' first harvest cycle and curing process, it is reassuring to know we are in the capable hands of regional contractors for the construction of an additional three Rangers. Looking to 2017 with the knowledge that the Buffalo Ranch Facility #1 will provide over 20,000 square feet of "sunshine-driven" cultivation space, I literally feel like the sky is the limit -- as a start-up in this industry we are barely off the ground after four months into the production schedule. I encourage shareholders and interested parties to stay in check with the CannaGrow Blog for coming updates regarding company benchmarks: http://www.cannagrowholdings.com/cannagrow-blog/."
Rod Clawson, Principal of Colorado State-Licensed Category One Botanicals, LLC, also stated, "These are exciting times at Colorado Buffalo Ranch as the inroads and relationships being developed in the realm of production and marketing are going to help Category 1 to become a well-known brand throughout the Cannabis Industry in Colorado. As we move through the first harvest cycle, we are now talking with interested buyers and potential clients for sales of cured product. Much progress has been made in such a short time thanks to the management and technical services of the CannaGrow Staffing Program."
CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity of providing oversight as the Facilities Manager, working with the State/County Agencies and Category One Botanicals, LLC, the Licensed Grower for the facilities. The completion of this project will now provide the company the basis to begin generating revenues from Licensed Growers subleasing the Turnkey facilities being built to the specifications of CannaGrow COO, Dr. John P. Janovec, and Consultant, Jason Wells.
About CannaGrow Holdings, Inc.:
CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.
CannaGrow Holdings, Inc. does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violate the laws of the United States of America.
CannaGrow Holdings, Inc. encourages the public to read the above information in conjunction with its year-end statement for December 31, 2015, and the quarterly statements filed in calendar year 2016, at, www.otcmarkets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.