SOURCE: CannaGrow Holdings, Inc.

CannaGrow Holdings, Inc.

April 05, 2016 07:27 ET

CannaGrow Holdings Initiates the Erection of Three Additional Greenhouses, Optimizing the Colorado Buffalo Ranch Facilities for Sunshine-Driven Seasonal Cannabis Production

CENTENNIAL, CO--(Marketwired - Apr 5, 2016) - NEWMEDIAWIRE.COM -- CannaGrow Holdings, Inc., (OTC PINK: CGRW), -- CannaGrow Holdings, Inc., a Liaison and Consultant providing turn-key solutions to licensed growers in the legal Cannabis industry, today announced an update on the Colorado Buffalo Ranch Project located in Huerfano County, Colorado.

As explained by Delmar Janovec, CEO of CannaGrow Holdings, "One of the Company's milestones for the completion of the first phases of the Colorado Buffalo Ranch Facilities is the installation of six (6) hoop-style greenhouses or "Hoop Houses" for seasonal production of Cannabis by a licensed grower. These buildings form an integral component of the facilities as designed by CannaGrow's botanical-horticultural specialists, Dr. John P. Janovec, COO, and Mr. Jason Wells, Horticultural Production Manager."

Janovec added, "Three (3) Ranger Series Hoop-style Greenhouses from the International Greenhouse Company (www.igcusa.com) were purchased in late February of this year by NuGro Industries, Inc., the landowner and developer of the Colorado Buffalo Ranch Facilities. The structural components of the walls for the first three (3) Hoop Houses were delivered to the project site on March 30, 2016, and we anticipate the arrival of the trusses and durable siding in the coming week, followed by mechanical equipment."

As confirmed by Dr. Janovec, "The Ranger Series Greenhouses provide an optimal environment for seasonal Cannabis production. The smaller house size and state-of-the-art ventilation and irrigation system will give us the ability to maximize the production capacity and quality of Cannabis plants cultivated under Colorado sunshine."

Dr. Janovec also noted, "We anticipate starting construction of the Ranger Series Greenhouses during the week of April 4, 2016, with a completion date of May 15, 2016, just in time for the Licensed Grower to commence the propagation of the first generation of Cannabis plants to be grown and harvested at the Colorado Buffalo Ranch Facilities."

As emphasized by Dr. Janovec and Mr. Wells, the Colorado Buffalo Ranch Facilities are strategically focused on a perpetual year-round work flow involving the propagation, vegetative growth, and flowering of Cannabis plants in different indoor and greenhouse environments. The 3200-ft2 Nexus Light Deprivation Greenhouse will provide an ideal flowering chamber for several hundred mature Cannabis plants of various strains and sizes at any given time. However, each year the Nexus Greenhouse also will be used to produce the seedlings and clones needed to fill the Hoop Houses in time for long summer growth and flowering toward harvest in the fall or early winter. 

Jason Wells added, "The addition of the first three (3) of six (6) seasonal hoop houses to the Colorado Buffalo Ranch Facilities is a strategic move that enables the sunshine-driven production of up to 600 individual flowering Cannabis plants that will be harvested in about October of each year. With their superb environmental control and propane heating system, the Ranger Series Greenhouses will also permit the licensed grower to extend the growing season to achieve a second crop in the early winter of each year."

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 Grower sub-leasing the Turnkey Growing Facilities being built to the specifications of Dr. John P. Janovec, COO of CannaGrow, and horticultural consultant, Jason Wells.

CannaGrow has received numerous inquiries from perspective tenants and are also exploring additional business ventures within this industry that could further enhance shareholder value. The site plan, grading plan, and phasing plan that were submitted by NuGro Industries, the landowner and developer, can be viewed at the company 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, 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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