SOURCE: CannaGrow Holdings, Inc.

January 26, 2015 06:30 ET

CannaGrow Holdings Announces Requested Requirements to County Planning Commission Has Been Submitted

CENTENNIAL, CO--(Marketwired - Jan 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, "At a meeting of the Huerfano County Planning Commission held on January 22, 2015, the final requirements to NuGro's Land Use Application (LUA) previously requested by Planning Commission were submitted to the Commission. The submissions were well received by the Planning Commission and we have been given the green light to proceed to a County Commissioners meeting in late February, 2015. The recommendation for approval was given by the Planning Commission with the requirement that NuGro Industries secure not just the current liability insurance policy that is already in place, but also an additional policy to include the actual "All Operations" coverage once they begin. NuGro Industries has already secured a letter of commitment from their current insurance agent to cover this requirement, and in addition CannaGrow Holdings will require all sub-leasing licensed growers to provide such a policy to indemnify all parties involved at the onset of operations."

Mr. Janovec went on to say, "The County Commissioners meeting will be held in conjunction within a public forum for the review and final approval of NuGro's Land Use Application, (LUA). Based upon a final approval of the LUA, Huerfano County will issue a Conditional Use Permit (CUP) within, allowing NuGro Industries to proceed with construction of Phase I & II of the Colorado Buffalo Ranch Filing No. 5-Lot 61, in March, 2015.

"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 an 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 actual 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.PinkSheets.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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