CENTENNIAL, CO--(Marketwired - Jul 20, 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 announced that along with the existence of over 1,500 plants comprising the initial Production Cycle there has been an addition of 130 plants comprising in excess of 12 strains.
Dr. John P. Janovec, Ph.D., C.O.O. of CannaGrow Holdings, states, "This is as exciting as it gets in terms of the underlying genetic basis of production at Colorado Buffalo Ranch Project I. We designed the State of the Art Mother Plant Room to house a rich base of Cannabis genetic diversity while at the same enabling a perpetual flow of clones to the nearly 12,000-sq. ft. of grow area. With the nursery at the center of the facility, the Mother Plant Room will enable me to focus on the genetics of various popular and highly marketable strains while working to develop our own proprietary strains. I believe that my education and background involving plant evolution and genetics will enable the end products to be of the highest quality while creating a great demand in the market place."
Jason Wells, CannaGrow Holdings' Consultant, remarked, "While the Mother Plant Room is being ramped up to maintain a steady supply of quality clones for future production, I will remain focused on the current production cycle involving over 1500 plants. This first production cycle will include multiple varieties of Cannabis, including Indicas, Sativas, and hybrids. The intent is to bring to market quality, pesticide-free, sunshine-grown product as Category One Botanicals begins to make an entrance into the Colorado Cannabis Industry."
Rod Clawson, Licensed Grower and Managing Member of Category One Botanicals, LLC, adds, "As the Key Employees of the facility work to begin operations and establish the various protocols required by the State, it is our intent to produce the highest quality Cannabis products available in the State of Colorado. We have assembled a Team of experts in Dr. John Janovec and Jason Wells who come from deep backgrounds in plant science, combining experience that exceeds thirty (30) plus years in botanical and horticultural research and development. I'm extremely happy to have both of them on board as leading consultants at Category One Botanicals. "
Delmar Janovec, CEO, stated, "I feel very confident with the entire Cultivation Team at the Colorado Buffalo Ranch Project I, allowing me to step back from the day-to-day operations at the facility. This will enable the Company to focus on future expansions of the remaining 15 acres of the 20 acre lease. One of our most recent inquiries has developed into serious discussions for the potential development of a duplicate project consisting of a 4.5-acre facility much like the project just completed for Category One Botanicals."
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 the Licensed Growers subleasing the turnkey facilities being built to the specifications of CannaGrow's C.O.O., 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.