SOURCE: CannaGrow Holdings, Inc.

July 30, 2015 06:30 ET

CannaGrow Holdings, Inc. Announces Required Bennett Road Improvements Completed and Approved by Huerfano County

CENTENNIAL, CO--(Marketwired - Jul 30, 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.

Delmar Janovec, CEO, states, "The Conditional Use Permit (CUP) issued by the Huerfano County Board of County Commissioners on May 12, 2015, granting approval for the commercial cultivation of Marijuana on Colorado Buffalo Ranch Filing No. 5-Lot 61 carried certain conditions. One of the conditions in the issuance of the CUP was the completion of Bennett Roadway improvements. The required improvements consisted of the following:

1. grading of approximately 2.4 miles of gravel roadway,

2. cutting in ditches to improve the drainage run-off,

3. the placement of approximately 2,000 tons of base rock,

4. the placement of approximately 700 tons of Pitt-run rock for the three low water crossings.

This work has been completed by the State Licensed Grading Contractor, Butte Valley Construction, LLC, and an affidavit of the specifics of the work completed was submitted to and signed off by an agent of the Huerfano County Planning Commission."

Janovec went on to say, "August is going to be a very event filled month for the Buffalo Ranch Project. We anticipate State approval of the Supplemental Substitute Water Supply Plan (SSWSP) to be granted in August. Once this final preconstruction CUP condition is satisfied, the site plans and architectural blueprints will be immediately submitted for the issuance of the Building Permits. We will keep shareholders updated as the August Milestones are met.

Phase I & II consists of site grading for the ingress & egress roadways, a 3,200 sq. ft. head-works building, six 2,300 sq. ft. hoop-houses for outdoor grows, an approximate 3,300 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 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. CannaGrow has already received numerous inquiries from perspective tenants and we are also exploring additional business ventures in the area that could further enhance shareholder value."

The revised 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, 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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