SOURCE: CannaGrow Holdings, Inc.

March 15, 2016 06:30 ET

CannaGrow Holdings Announces Plans for the Immediate Addition of Three Hoop-Style Greenhouses for Seasonal Production of Sun-Grown Cannabis at Colorado Buffalo Ranch

CENTENNIAL, CO--(Marketwired - Mar 15, 2016) - CannaGrow Holdings, Inc., (OTC PINK: CGRW), -- Highlighting the achievement of a significant company benchmark, CannaGrow Holdings, Inc., a Liaison and Consultant providing turn-key solutions to licensed growers in the legal Cannabis industry, today announced a key update on the Colorado Buffalo Ranch Project. 

Delmar Janovec, CEO of CannaGrow Holdings, confirmed that NuGro Industries, Inc., the landowner and developer for the Colorado Buffalo Ranch Project located in Huerfano County, Colorado, executed a Purchase Order through the International Greenhouse Company (IGC; http://www.igcusa.com) for the first three (3) of six (6) Hoop-Style Greenhouses planned for the Phase I& II build out, as depicted in the 3D conceptual site plan rendering (Image 1).

"The stamped engineered drawings were submitted to the Huerfano County Planning Office on on March 9 and we were pleased by the issuance of the building permit the following day," stated Janovec. "Foundations for all three (3) greenhouses have already been prepared and erection of the buildings will begin upon delivery of the first structural components in the coming days."

The Colorado Buffalo Ranch Project represents a significant evolution in the industry through the strategic implementation of assets such as using seasonal greenhouses in the overall grow strategy. Each building is 2,880 sq. ft. in size and will function primarily as seasonal production facilities. By making these greenhouses an integral part of production, the company plans on benefitting from the increasing commercial appeal of "sun-grown" Cannabis as well as mitigating higher production costs and the larger carbon footprint associated with indoor commercial grows that rely solely on artificial lighting.

"We intend to have the greenhouses erected and fully functional for seasonal production starting this spring, with first harvest in the Autumn," explained Dr. Janovec. "In addition, the installation of Modine BTU gas heater units in each of the three (3) greenhouses will enable extension of the growing season and harvest potential into the early winter months."

Dr. John P. Janovec, COO and Jason Wells, Consultant, researched and selected the IGC's Ranger Series Greenhouse model specifically for the high quality of engineered certified materials used in manufacturing. "With a combined grow space of 8,640 sq. ft., these three seasonal greenhouses will contribute significantly to the production capabilities of the project while substantially improving the bottom line revenues as well as defraying electrical costs," said Dr. Janovec.

Dr. Janovec added, "The 3200 sq. ft. Head House building and the 3300 sq. ft. Nexus Greenhouse building have already been erected and currently both buildings are being finished with HVAC, plumbing, and electrical installations. Together the two buildings provide a total of 6,500 sq. ft. to the facility and they will be used strategically each Spring to produce the hundreds of plants required to fill the 8,640 sq. ft. capacity of the three seasonal greenhouses."

Dr. Janovec confirmed that Phase I & II consist of site grading for the ingress & egress roadways, the 3,200 sq. ft. Olympia Steel Head House Building, six (6) 2880 sq. ft. Hoop-Style Greenhouses for seasonal production, and a 3,300 sq. ft. state-of-the-art Nexus Light Deprivation Greenhouse that utilizes the most up-to-date technology for the growing of Cannabis. The Nexus Greenhouse and the Head House buildings will provide premier work and growing facilities for an approved Licensed Grower that will optimize all operations, from seed-to-sale. (See Images 2 & 3 for two recent views of the Head House Building and the Nexus Greenhouse.)

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 Grower sub-leasing the Turnkey Growing Facilities being built to the specifications of Dr. John P. Janovec, COO of CannaGrow, and horticultural consultant, Jason Wells.

CannaGrow has received numerous inquiries from perspective tenants and are also exploring additional business ventures within this industry that could further enhance shareholder value.

The site plan, grading plan, and phasing plan that were 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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