SOURCE: CannaGrow Holdings, Inc.

December 29, 2015 06:30 ET

CannaGrow Holdings Announces Dr. John P. Janovec's Approval for a Key Employee License by the Marijuana Enforcement Division of the State of Colorado

CENTENNIAL, CO--(Marketwired - Dec 29, 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, comments, "Dr. John P. Janovec, COO of CannaGrow Holdings, Inc., was approved by The Marijuana Enforcement Division (MED) of the State of Colorado for his Key Employee Occupational License the week of December 14, 2015. The MED license allows Dr. Janovec to work within or provide services to a MED licensed Medical or Recreational Marijuana Facility with focus on the management of cultivation, processing, or sales operations of that specific business entity within the State of Colorado."

Dr. John P. Janovec, Ph.D., added, "I was pleased to receive notice of the approval of my MED Key Employee Occupational License, which gives me the privilege to offer my technical and project management expertise and services to licensed growers within the Medical or Retail Marijuana Industry in the State of Colorado. We have made significant progress toward the build out of our first state-of-the-art commercial cultivation center at Buffalo Ranch in Huerfano County, Colorado, and I am looking forward to working with one or more licensed growers who will be leasing the state-of-the-art facilities starting with the 2016 growing season."

Mr. Janovec comments further, "Dr. Janovec, Ph.D., has extensive education and technical expertise in the cultivation of plants, including a cumulative 20 years of professional experience within academic and research institutions, as well as private corporations. The combination of his agricultural and botanical background with the new Key Employee License approval by the MED Board provides added bonus to the CannaGrow Holdings business model as a Liaison and Consultant providing Turn-Key solutions to licensed Growers in the State of Colorado.

CannaGrow Holdings, Inc. is the Liaison and Representative for NuGro Industries and will continue in that capacity, working with the various Contractors and State and 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 Turn-key Growing Facilities being built to the specifications of Dr. John Janovec, COO, and CannaGrow horticultural consultant, Mr. Jason Wells. CannaGrow has already received numerous inquiries from perspective tenants and is also exploring additional business ventures within this industry that could further enhance shareholder value."

Please review the Company Time Line Progress video at the following link:
https://www.youtube.com/watch?v=5rrM9Fj19_c

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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