SOURCE: GreenGro Technologies

May 05, 2010 14:24 ET

GreenGro Technologies Announces Addition of New Chief Operating Officer; Cancels 57,500,000 Shares

BUENA PARK, CA--(Marketwire - May 5, 2010) -  GreenGro Technologies, Inc. (PINKSHEETS: GRNH), a medical marijuana provider holding company, announced today that it has entered into a long term employment agreement with James Haas, Jr., an experienced grower of medical marijuana since the inception of the 1996 California law. Under the terms of the agreement, Mr. Haas will act as Executive Vice President, Chief Operating Officer and will serve on the Board of Directors. 

In addition, the Company announced that it has terminated the acquisition of Cannova Health; a clinic management company based in Newport Beach, CA, and has cancelled 57,500,000 common shares issued in relation to the acquisition.

"GreenGro has decided to focus its efforts on the management of medical marijuana nurseries and dispensaries, in particular for the Los Angeles and San Diego markets," said James Haas. "We are moving full speed ahead to fill these immediate needs to service the thousands of patients, in particular, within the LA County network. After completing our due diligence, we feel we are better suited growing our dispensary management from within while focusing our efforts on acquiring revenue producing entities."

About GreenGro: GreenGro Technologies is a vertically integrated medical marijuana company which provides management services of medical marijuana to non-profit patient cooperatives in southern California.

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 a number of 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.  

Contact Information

  • Contact:

    GreenGro Technologies, Inc.
    James Haas, Jr.
    (949) 891-8933