SOURCE: CannaGrow Holdings, Inc.

November 02, 2016 08:17 ET

CannaGrow Holdings Announces Purchase Order for Three Additional Greenhouses Has Been Submitted to I. G. C.

GREENWOOD VILLAGE, CO--(Marketwired - Nov 2, 2016) -  CannaGrow Holdings, Inc., (OTC PINK: CGRW), a Liaison and Consultant providing Turnkey Solutions to Licensed Growers, announces that a purchase order has been submitted to the International Greenhouse Company (IGC; http://www.igcusa.com) for three (3) 96' x 30' Ranger Series 2000 Heated Greenhouses, along with funds to complete the engineer drawings for the structures.

Mr. Janovec, CannaGrow Holdings, CEO, states, "NuGro Industries, the Landowner and Developer for the Colorado Buffalo Ranch Facility I in Huerfano County, has submitted a Purchase Order to the International Greenhouse Company for three additional 2,880-sq. ft. Ranger Series 2000 Heated Greenhouses. The construction of these additional greenhouses will complete Phase I & II of the facility and provide an additional 8,640 sq. ft. of production capacity, bringing the total square footage of the Grow Facility to 23,580 sq. ft."

Rod Clawson, Managing Principal of Category One Botanicals, LLC, the Colorado State Licensed Grower in operation at the Buffalo Ranch Facility I, adds, "Now that we are entering into the final stages of the first grow cycle at the Colorado Buffalo Ranch Facility I, the need for more space and production capacity for the future has become apparent. I made the request to Mr. Janovec for the additional Greenhouses as scheduled in the sub-lease agreement; he made the calls and now NuGro Industries is coordinating to begin manufacturing and construction. Now more than ever, I see the benefit of having formed alliances with CannaGrow Holdings and NuGro Industries."

Dr. John P. Janovec, COO, remarks, "The original three Ranger Series 2000 Greenhouses are currently in full bloom so our team has seen firsthand the quality of the structure as well as the greenhouse manufacturer. It was an easy and natural decision to return to IGC for the additional buildings. Starting now with this expansion to complete Phase I & II will ensure that we are ready to roll into the Spring of 2017 with 17,280 sq. ft. for our "Sunshine-Driven" production. I invite shareholders and other interested parties to visit the CannaGrow Blog for updates regarding the optimal environment the Ranger Series Greenhouse model can provide (http://www.cannagrowholdings.com/cannagrow-blog/)."

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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