SOURCE: CannaGrow Holdings, Inc.

January 12, 2017 06:30 ET

CannaGrow Holdings Announces Licensed Grower Preparing to Take First Recreational Wholesale Marijuana Product to Market from Colorado Buffalo Ranch Facility

GREENWOOD VILLAGE, CO--(Marketwired - Jan 12, 2017) - CannaGrow Holdings, Inc. (OTC PINK: CGRW), a Liaison and Consultant providing turnkey solutions to licensed growers announces the accomplishment of a significant company milestone as Licensed Grower, Category One Botanicals, LLC, prepares their first recreational marijuana products for wholesale distribution in the State of Colorado.

Dr. John P. Janovec, COO, stated, "The combined team of the CannaGrow Staffing Program and Category One Botanicals has worked diligently since August 2016 when licensed operations started, and the work is now paying off. The first harvest batch from the Ranger Greenhouses is now completely cured and being submitted for mandatory testing at a state-licensed laboratory. The first crop from the Nexus Light Deprivation Greenhouse is now in the first week of the harvest, drying, and curing process, and the resulting wholesale volume of 'pesticide-free' sunshine grown product to date is quite impressive. It gives me great pleasure to mention that over the last few weeks several interested buyers have visited the Colorado Buffalo Ranch Facility for tours and product quality verification, including a client with a high-profile brand in three States with inroads for distribution to over 200 recreational Marijuana dispensaries across the State of Colorado. The Facility is now fully optimized and production protocols are in place, so after an initial R&D phase, I can say with utmost confidence that the operational protocols and the crew are now in position for a record year in the wholesale recreational market in the State of Colorado. I encourage shareholders and interested parties to visit the CannaGrow Holdings Blog for more information about the harvest and production process at Colorado Buffalo Ranch Facility I (http://www.cannagrowholdings.com/cannagrow-blog)."

Jason Wells, Production Manager, added, "With two major harvests under our belts at Colorado Buffalo Ranch Facility I and the positive dialogue with interested clients, our production crew is now turning their focus to the production of a significant population of young transplants to quickly replace all individual plants harvested in the Nexus Light Deprivation Greenhouse. The down time will be minimal between crops and once the next crop is established in the Nexus, attention will shift to massive propagation of new clones and seedlings that will be grown out for transplant in the Spring through early Summer to the 17,280 square feet of production space in the six (6) climate-controlled Ranger Series 2000 Greenhouses. Now that the state-of-the-art facility is in full production mode, our production capabilities will enable about four (4) harvest cycles per year in the Nexus Greenhouse, and two (2) harvest cycles in the Ranger Greenhouses. I am pleased to say that our genetic catalog, mother plant colony, and propagation chambers are more than ready for the high throughput production milestones that we have set for ourselves over the next 12-18 months."

CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity of 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 Licensed Growers subleasing the Turnkey facilities being built to the specifications of CannaGrow COO, Dr. John P. Janovec, and Consultant, Jason Wells.

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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