SOURCE: CannaGrow Holdings, Inc.

February 09, 2017 06:30 ET

CannaGrow Holdings Reports on Completion of First Wholesale Harvest Cycle by Licensed Grower at Colorado Buffalo Ranch Facility I

GREENWOOD VILLAGE, CO--(Marketwired - Feb 9, 2017) - CannaGrow Holdings, Inc. (OTC PINK: CGRW), a Liaison and Consultant providing turnkey solutions to licensed growers, announces the meeting of a major company benchmark as Licensed Grower, Category One Botanicals, LLC, completes their first major harvest cycles and initiates marketing and distribution of wholesale retail Marijuana products in the State of Colorado.

Dr. John P. Janovec, COO, stated, "As Facility Administrator, I am pleased to announce that Category One Botanicals has completed the process of curing bulk product from the first two harvest cycles at Colorado Buffalo Ranch Facility I. Despite the challenges we encountered, the Crew managed to pull off an impressive harvest of about 250 pounds of product that has been divided into 'Buds' and 'Shake/Trim,' with another approximate 50 pounds of product being harvested and processed this week. Mandatory potency and microbial contamination tests were conducted successfully, so the storeroom is now stocked with packages now for wholesale distribution to licensed retailers in the State of Colorado. The potency test results for the most prized strains range from around 15% to 22%, but the genetic catalog also includes strains with a high CBD:THC ratio, something to preserve for future research and development. The diversity of fragrances characterizing the hand-trimmed 'Buds' is remarkable, ranging from sweet-fruit-berry, citric, and mint, to spicy-clove-black pepper, sweet-musky-skunk, and diesel. The best of the bulk 'Buds' will be distributed specifically to retail dispensaries, while the bulk 'Shake' will be sold to a Retail Marijuana Processing Facility for production of extracts (oils, resins, waxes, etc.)."

Rod Clawson, Managing Member of Category One Botanicals, added, "Some days I find it hard to believe that we have come so far in such a short time since initiating licensed operations in late July 2016. One would be hard pressed to find a team of such high caliber as that found in the CannaGrow Holdings Staffing Program, combining literally over one hundred years of experience in project development, construction, facility management, and botanical and horticultural sciences. As Managing Member of Category One, I am now focused on executing a marketing strategy that is aimed at getting wholesale Marijuana products out the door. Our first demo samples of strain-specific products are now in the process of being transferred to licensed retailers for review and consideration based on current inventory and production schedules over the coming weeks-months. Those retailers include small to large dispensaries, as well as a high-demand brand backed by a renowned icon in the world of modern music."

Shareholders and interested parties are encouraged to visit the CannaGrow Holdings Blog for more information and updates from Colorado Buffalo Ranch Facility I (http://www.cannagrowholdings.com).

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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