EAGLE POINT, OR--(Marketwired - Aug 4, 2016) - Grow Condos, Inc. (
Dear Valued Shareholders,
As we embark on the next exciting quarter, we would like to take an opportunity to update the investment community on recent developments, opportunities, and our outlook for the remainder of 2016. Since our last letter on February 25th, 2016, I would like to reveal the directional plan for the Company and highlight the milestones we have successfully accomplished. Our most notable achievements include:
1) The closing of the Company's second industrial condo development property that aims to be equipped for 33 industrial units based in Eugene, Oregon, which will enable the Company to sell prime condo style units at a starting price of $150,000 per unit for our base shell;
2) The establishment of an Advisory Board for the purpose of providing the Company and our clients with the best of breed industry specific guidance and assistance;
3) The alignment of partnerships created to strengthen our capacity to serve the marketplace on an educational level, supporting both the build out and the on-going farming strategies within the units;
4) The Creation of an RV/Campground division entitled "Smoke on the Water", designed to cater to Marijuana friendly travelers.
Our forward looking goals for the fall and remaining 2016 Calendar year includes the following milestones:
1) Begin taking reservations for a quick sell out at our Eugene property. The company believes that with approximately 33 to 37 units available on the Eugene development that sell out will occur quickly, as we are experiencing a tremendous amount of interest before being permitted to even accept deposits;
2) Target our first property outside the state of Oregon and continue with our pathway of building a national footprint;
3) Broaden our management team to be able to properly scale our national footprint of condo development properties;
4) Continue engaging Joint Ventures, enabling greater service offerings for condo purchasers. We believe the key here will be to develop value added relationships that provide a full circle one stop solution for our clients;
5) Expansion of our team of advisors, providing a resource so fortified, that all the advice needed for success in the marketplace can be made available from the best and the brightest within the industry;
6) Development of the "Smoke On the Water" brand, and target the first acquisition property. The company is intently looking at a number of properties which could be ideal candidates for an initial acquisition. We believe that as a growing number of states come in line with local legislation, there is a tremendous opportunity for a brand of recreational lodges and RV parks like "Smoke On the Water". Tourist interest in states and cities where it is legal to buy and consume cannabis without a medical license has increased, according to Hotels.com search data, and new industries are seeking to serve those travelers.
Recreational marijuana use is now legal in Colorado, Washington, Oregon, Alaska and the District of Columbia. It has been legalized for medicinal use in 23 states and the District of Columbia, where it is used to treat a wide variety of illnesses like seizure disorders, multiple sclerosis, and glaucoma, and to alleviate the symptoms of aggressive treatments that cause side effects, such as eating conditions that come as a result of chemotherapy.
The cannabis industry is becoming much more broadly noticed with publicity now becoming more positive and prevalent. A recent Inc. Magazine reported: "Since 2013, many cannabis entrepreneurs have seen their warehouse rents skyrocket after they'd spend tens of thousands of dollars to convert the space into a marijuana growing operation. Owning your real estate lets you avoid that financially crippling scenario entirely " To read the entire story visit: http://www.inc.com/will-yakowicz/the-big-opportunity-in-marijuana-is-real-estate.html
Our company believes we are on the forefront of this potentially explosive industry and are excited to be a part of it.
In conclusion, I'd like to thank our loyal investors for your belief in our Company and your support of this developing market. This is a truly exciting time for our Company. We anticipate that the opportunities slated will result in relationships and undertakings that will yield in significant short and long term growth. It's our intention to build an upright and transparent investment opportunity, keeping our shareholders consistently updated as we gain traction in all our endeavors.
Wayne A. Zallen, Chief Executive Officer
About: Grow Condos, Inc.: Grow Condos is a fully reporting publicly traded company listed under the symbol GRWC on the OTCQB exchange. It is a real estate purchaser, developer & manager of specific use industrial properties providing "condo" style turn-key grow facilities to support the cannabis industry. We own, lease, sell and manage multi-tenant properties.
Like during the Gold Rush days in California, Grow Condos is focused on a pick-and-shovel approach to participating in the exploding marijuana industry. We finance the purchase and/or development of properties by offering to investors private placement sponsorships, debt instruments, or limited partnerships. We believe there is a significant investor demand for such opportunities. Currently we own and manage a 15,000 square foot warehouse in Eagle Point, Oregon, own and developing a property in Eugene Oregon and are currently looking into other acquisitions in Oregon, Colorado, Washington, California and Nevada with like-minded investors who want to share in the growth of this dynamic new industry.
Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Grow Condos, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Grow Condos, Inc. ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Grow Condos, Inc. filings with the OTC Markets, Securities and Exchange Commission and/or the company's website.