GREENWOOD VILLAGE, CO--(Marketwired - Apr 20, 2017) - CannaGrow Holdings, Inc. (OTC PINK: CGRW) - As a Liaison and Consultant providing turnkey solutions to licensed growers, CannaGrow Holdings, Inc. announces the execution of a Build to Suit Sub-Lease for an Extraction/Processing Facility with SGD Holdings, Ltd. (OTC PINK: SGDH) on a three (3) acre lot at their Colorado Buffalo Ranch Filing No. 5-Lot 61 Lease.
Delmar Janovec, CEO, stated, "With the market for Oils, Edibles, and Infused Products beginning to be in such high demand, a processing facility is a perfect fit at the Colorado Buffalo Ranch Facility. With the completion of the CannaGrow Phase I & II there will be over 20,000 sq. ft. of grow space being utilized by our current tenant and Licensed Grower, Category One Botanicals, LLC. The full production of this space by Category One Botanicals and the CannaGrow Staffing Team will provide ample product to supply the needs of a new Processing Facility while still maintaining the highly lucrative Premium Grade A Bud market."
Janovec went on to say, "Huerfano County is currently working to finalize their protocol and regulations for the licensing of Processing Facilities. CannaGrow Holdings will once again act as the liaison for the property owner, NuGro Industries, to compile and submit an amended Conditional Use Permit, (CUP). The five year sub-lease and multiple year lease options with SGD Holdings will be contingent upon the approval and issuance of a Conditional Use Permit to allow for the construction of a new State of the Art Processing Facility."
Shareholders and interested parties are encouraged to visit the CannaGrow Holdings Blog for more information and updates from Colorado Buffalo Ranch Facility I at (http://www.cannagrowholdings.com).
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, 2016, 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.