New Management Contracts for both Cannabis Ventures Inc. and Genobreeding Part of Ongoing Shift in Corporate Strategy
ANAHEIM, Cali., April 01, 2019 (GLOBE NEWSWIRE) -- GreenGro Technologies, Inc. (GRNH), a provider of eco-friendly state of the art technological solutions to the cannabis industry, announced today that it has signed two multi-year management contracts for both Cannabis Ventures and Genobreeding divisions. The new agreements with two Northern California-based licensed cannabis growers, encompasses GRNH’s cultivation and nursery expertise through licensing, management, compliance and consulting.
“Today’s announcement is testament of the industry’s continued acceptance of our state-of-the-art greenhouse technologies which enable cannabis growers to maximize their plant yields,” said James Haas, Chairman and Chief Executive Officer of GreenGro Technologies Inc. “The anticipated revenues to be generated from these multi-year contracts will ideally strengthen our balance sheet and provide us with the financial flexibility to accelerate our growth strategy in the months and years ahead.”
With these newly announced cultivation support and service contracts, the Company anticipates putting itself in the position to create a growing earnings stream in its first year through the ramping-up and completing required renovations of the client Greenhouses. Once the Greenhouses are at full capacity, earnings from just the cultivation contracts should be on course to grow significantly throughout the contracts. GRNH’s new nursery contracts are anticipated to also contribute to its earnings growth when it begins delivering on its genomics production for both the existing cultivations and the ability to introduce these genomics to other licensed cultivation distribution networks.
“The cannabis business is complex with nuances and demands that range from compliance and regulations, to training, licensing and other needs,” added Mr. Haas. “We consider ourselves among the top resources in the industry for our technology, service, support and expertise and are excited to solidify that reputation,” concluded Mr. Haas.
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About GreenGro Technologies
GreenGro Technologies (OTC: GRNH) is a vertically-integrated provider of eco-friendly state-of-the-art technological solutions to the cannabis industry. The Company considers itself to be a trusted partner to the cultivation, production and retail aspects of the cannabis market through a combination of three operating divisions that encompass Cannabis, CBD production and Genomic development. Each division is able to leverage the strengths of the other, creating a synergistic, efficient and highly profitable business model.
The Company is proud to partner with innovators and educators, to engage in revolutionary clinical research, to further the understanding of the capabilities and applications of cannabis, to engage in market research and IP development, and to evolve GreenGro Tech’s capabilities and partnerships as the market further develops and expands.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company’s best judgment based upon current information and involve several risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.
GreenGro Technologies, Inc.
James M Haas CEO