SOURCE: CannaGrow Holdings, Inc.

August 31, 2016 06:30 ET

CannaGrow Holdings Announces Plans for the Purchase of Six Additional Ranger Series 2000 Greenhouses

GREENWOOD VILLAGE, CO--(Marketwired - Aug 31, 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 plans to increase the production capacity of the Colorado Buffalo Ranch Facility I by 17,280 square feet. NuGro Industries, Inc., owner and developer of the Facilities, has agreed to initiate contracts with International Greenhouse Company (IGC) for the purchase of six (6) additional Ranger Series 2000 Greenhouses.

Dr. John P. Janovec, Ph.D., COO of CannaGrow Holdings, states, "With the first grow cycle well underway we are pleased by superb growth results. I attribute the stellar health of our plants in part to the 'Living Soils' they are growing in. The 'Living Soils' medium being used was mixed in bulk at the Buffalo Ranch Grow Facility with various amendments, composts, and micro-nutrients purchased from vendors as far away as Canada and the East Coast. Now that the computerized Nexus Greenhouse System is dialed in and the Mother Plant Room is fully functional we already anticipate the need to increase square foot capacity of the grow space from the current 11,640 sq. ft. to 28,920 sq. ft. I have the utmost confidence that our 'Sunshine-Driven' grow facility will soon be setting new quality standards in the industry."

Jason Wells, Production Manager, added, "As we prepare to fill the existing three (3) 2,880-sq ft. Ranger Series 2000 Greenhouses with plants to begin the flowering process I can clearly see that our overall production capability is greater than anticipated. This initial success is a direct result of our proprietary 'Living Soils' mixture combined with the optimum growing environment provided by the State-of-the-Art Nexus Greenhouse System. Starting the process now will give us ample time to complete the purchase, site preparation, and construction of these greenhouses to meet early spring grow cycles."

Rod Clawson, Manager of Category One Botanicals, LLC, the Licensed Grower for the Facilities, adds, "It has been less than two (2) months since we began operations at Colorado Buffalo Ranch Facility I and to already be in discussions about expansion plans clearly demonstrates the degree of our early success. Dr. John P. Janovec and Jason Wells have far exceeded my expectations and I could not be more satisfied with the entire CannaGrow Staffing Program."

Delmar Janovec, CEO, stated, "The implementation of 'Sunshine-Driven' Cannabis Production utilizing 'Living Soils' has been one of our goals from the beginning. It is now becoming a reality and soon Category One Botanicals, with the assistance of the CannaGrow Staffing Program, will be bringing a variety of strains and quality products to the marketplace."

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 through its Staffing Program and other services offered to Licensed Growers subleasing the turnkey facilities being built to the specifications of CannaGrow 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.

Contact Information