SOURCE: CannaGrow Holdings, Inc.

October 05, 2015 06:30 ET

CannaGrow Holdings Announces Construction Started at the Colorado Buffalo Ranch Filing No. 5 Lot-61

CENTENNIAL, CO--(Marketwired - Oct 5, 2015) - CannaGrow Holdings, Inc., (OTC PINK: CGRW), -- A Liaison and Consultant providing Turn-Key solutions to licensed Growers announces an update on the Colorado project.

Delmar Janovec, CEO, states, "As previously announced, on September 24, 2015, the Huerfano County Building & Codes Department approved and issued the initial building permit to NuGro Industries for site preparation and Green House Construction at Colorado Buffalo Ranch Filing No. 5-Lot 61. On Thursday, October 1, 2015 site grading began for Phase I & II and now that construction is underway, the pace of progress will start to accelerate. Once the site grading and preparation is completed, the Nexus Greenhouse building will be delivered and erected upon completion of the foundations. The HVAC, Mechanical, and Electrical plans for the structure have already been approved by Huerfano County and the 3-Phase (277/480 KV) Electric Service, with transformers, have been installed onsite by San Isabel Electric. Each day that passes CannaGrow is closer to generating the substantial revenues that will come with full production of Phase I & II of the Colorado Buffalo Ranch Grow Facilities."

Janovec added, "Phase I & II consists of site grading for the ingress and egress roadways, a 3,200 sq. ft. head-works building, six 2300 sq. ft. hoop-houses for outdoor grows, an approximate 3,300 sq. ft. state-of-the-art Nexus Greenhouse that utilizes the most up to date technology for the growing of cannabis. The Nexus Greenhouse and the Olympia Head-house building will provide a premier work and growing facilities for an approved Licensed Grower's operations that will optimize all operations, from seed to sale.

"CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in that capacity, working with the various Contractors and State/County Agencies, to see the Multi-Phased project through to an operational status. The completion of this Project will provide CannaGrow the basis to begin generating revenues from the licensed Growers sub-leasing the Turnkey Growing Facilities being built to the specifications of CannaGrow COO, Dr. John P. Janovec, and consultant, Jason Wells. CannaGrow has already received numerous inquiries from perspective tenants and we are also exploring additional business ventures in the area that could further enhance shareholder value."

The site plan, grading plan, and phasing plan that was submitted by NuGro Industries, the landowner and developer, can be viewed on our website at: http://cannagrowholdings.com.

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. is currently working with a website designer to update its website to better reflect the business model the Company is engaged in within the Cannabis Industry.

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, 2014, and the quarterly statements filed in calendar year 2015, 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.

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