SOURCE: CannaGrow Holdings, Inc.

March 26, 2015 06:30 ET

CannaGrow Holdings Announces NuGro's Amended Land Use Application No. 15-001 Is Submitted to Huerfano County Planning Department

CENTENNIAL, CO--(Marketwired - Mar 26, 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.

Mr. Janovec, CannaGrow Holdings CEO, comments, "NuGro's amended Land Use Application (LUA) was submitted to Huerfano County's Planning Department on Wednesday, March 25, 2015 for the Planning Commission's review of the LUA with supporting documents."

Mr. Janovec went on to say, "Huerfano County's Planning Director will now schedule a joint County Commissioners and Planning Commissioners meeting to be held in conjunction with a public forum for the review of NuGro's amended Land Use Application, (LUA). After this meeting, NuGro will proceed to a meeting with both the Planning Commissioners and County Commissioners for a final approval of the LUA. Based upon a final approval, Huerfano County would then issue a Conditional Use Permit (CUP) that would allow NuGro Industries to begin construction of Phase I & II of the Colorado Buffalo Ranch Filing No. 5-Lot 61."

Mr. Janovec further adds, "We are now in the home stretch of this process and the finish line is only a few feet away. This is a very exciting time for CannaGrow and we are looking forward to completing the first two phases of the build-to-suit-facility. 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 amended LUA addressed the issues that had been outlined in our press release on March 17, 2015, and as follows;

1. Installation of a sprinkler systems in certain areas of the Head-house and Greenhouse facilities,
2. Installation of a Dry Hydrant System with two (2) 5,000 gal. storage tanks,
3. Installation of a Fire Suppression System with smoke exhaust in Greenhouse,
4. Address road conditions along Bennett Roadway, specifically the three (3) low-water crossings.

NuGro addressed the above issues in their amended LUA as follows; Items 1 and 3 will be addressed in the HVAC-Mechanical-Sprinkler systems shop drawing submittals for both the Nexus Greenhouse and Olympia Steel Buildings. The shop drawings will be submitted to the Huerfano County Building Dept. along with the complete Building Permit Application; Item 2. Has been addressed as noted on the revised Site Plans. This revision includes two (2) five thousand gallon water storage tanks as required for a Dry Hydrant System; Item 4. Has been addressed with cross sections for each of the three (3) Texas Low Water Crossings. These drawings were prepared by Stack Lot LLC in conjunction with Engineering Plans from a State Licensed Civil Engineering Firm, Manhard Consulting Ltd. NuGro Industries has agreed to hire the necessary licensed contractors to build the Texas Low water structures in the 3 low water crossing areas along Bennett Roadway.

Phase I & II consists of site grading for the ingress & egress roadways, a 3200 sq. ft. head-works building, six 2300 sq. ft. hoop-houses for outdoor grows, an approximate 3,000 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 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 consultants, Dr. John P. Janovec and Jason Wells.

The revised 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 reflect the new business model that will be forthcoming in the very near future.

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, 2013, and the quarterly statements filed in calendar year 2014, 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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