SOURCE: CannaGrow Holdings, Inc.

August 16, 2016 06:30 ET

CannaGrow Holdings Announces Initial Production Cycle Update

CENTENNIAL, CO--(Marketwired - Aug 16, 2016) - CannaGrow Holdings, Inc., (OTC PINK: CGRW), -- CannaGrow Holdings, Inc., a Liaison and Consultant providing turnkey solutions to licensed growers in the legal Cannabis industry, today announces 890 Marijuana Plants at the Buffalo Ranch Project I Facility have been tagged in compliance with the State MED Board METRC System.

Dr. John P. Janovec, Ph.D., COO of CannaGrow Holdings, states, "With my recent appointment as Administrator for Category One Botanicals at the Buffalo Ranch Project I Facility it is my responsibility to ensure that the entire facility adheres to the METRC System compliance regulations. Tagging these first 890 plants into the system is a milestone event for our Initial Production Cycle. As always my main goal is to provide a wide variety of popular and marketable strains that will help us to begin the branding process for Category One Botanicals."

Jason Wells, Production Manager added, "As we start to move hundreds of plants from the Mother Plant Room to the Greenhouse, the full impact of the production capabilities of the facility are becoming overwhelmingly apparent. With the natural light cycles beginning to wane the plan is to use the State of the Art Nexus Greenhouse to extend the vegetative (growth) cycle of the plants for an additional 30 to 45 days before the move to the Seasonal Greenhouses. This extended light cycle will add size and volume to the plants before the flower cycle begins. With the aid of Modine Heating Systems in the Seasonal Greenhouses we can flower the plants using natural sunlight well into late November and possibly even early December."

Rod Clawson, Licensed Grower and Managing Member of Category One Botanicals LLC, adds, "The staffing program provided by CannaGrow is amazing, as the knowledge of these two Master Growers makes me very comfortable with turning the day-to-day activities over to their 'Grow Team.' Even the support assistants CannaGrow provided are experienced enough to carry out many of the advanced tasks required as the team ramps the facility into full production."

Delmar Janovec, CEO, stated, "I have received nothing but good reports from everyone at the Buffalo Ranch Project I. It has been reported to me that the computerized systems running the different grow areas of the facility are all functioning properly and in accordance with the technology that was designed with the Nexus Greenhouse systems. As previously announced, we are continuing to work with a new potential tenant that has made their second site visit clearly demonstrating a strong interest in finalizing plans for an identical footprint on an adjacent 4.5 acres of the 20 acre lease the company has with the landowner, NuGro."

CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity in providing oversight as the Facilities Manager, working with the State/County Agencies and Category One Botanicals, LLC, the licensed Grower for the facilities. The completion of this project will now provide the company the basis to begin generating revenues from the Licensed Growers subleasing the turnkey facilities being built to the specifications of CannaGrow's COO, Dr. John P. Janovec, and Consultant, Jason Wells. CannaGrow has already received numerous inquiries from additional perspective tenants and is also exploring additional business ventures within this industry 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. 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, 2015, and the quarterly statements filed in calendar year 2016, 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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