SOURCE: CannaGrow Holdings, Inc.

CannaGrow Holdings, Inc.

July 14, 2016 06:30 ET

Certificate of Occupancy Marks the Beginning of Operations of the Marijuana Cultivation Facility at the Colorado Buffalo Ranch Filing 5-Lot 61

CENTENNIAL, CO--(Marketwired - Jul 14, 2016) - CannaGrow Holdings, Inc. (OTC PINK: CGRW), a Liaison and Consultant providing turnkey solutions to licensed growers in the legal Cannabis industry, today announced the achievement of a major milestone on the Colorado Buffalo Ranch Project located in Huerfano County, Colorado.

Delmar Janovec, CEO, stated, "On Monday, July 11, 2016, the Huerfano County Land Use Office completed the final inspection of the Colorado Buffalo Ranch Filing No. 5-Lot 61 facilities. On Wednesday, July 13, 2016, the Certificate of Occupancy was issued and Category One Botanical, LLC has now taken possession of the facility and initiated operations. The initial production cycle will include in excess of 1,500 plants and the implementation of a "Mother Plant" program required for the future cloning of numerous Hybrid Strains."

Janovec went on to add, "With the initial construction phase of our first five (5) acre facility completed I will now focus my attention on the inquiries from third parties interested in the potential development of additional facilities on an adjacent five (5) acre footprint of the Twenty (20) acres that are under lease to CannaGrow."

Dr. John P. Janovec, Ph.D., C.O.O. of Cannagrow Holdings, added, "With the initial construction phase completed and the Certificate of Occupancy issued, the Colorado State Licensed Grower can now move in and join our team. My primary tasks will be the implementation of production protocols, the gathering, categorizing, and management of various seed and clone stock, along with the development of new and specific strains. I find it very satisfying to be able to commence our botanical and horticultural work and research in a State of the Art Facility that has been built to our specifications!"

Jason Wells, Cannagrow Holdings' Consultant, remarked, "I have been waiting for the opportunity to get my hands back into the dirt again since arriving on site from Peru back in April. Dialing in the large-scale State of the Art Grow Facility with computerized lighting and irrigation will be first on the list. Management of the delicate ecosystems within the different buildings of the facility will be essential to producing significant quantities of product while maintaining superior quality. With our ability to accomplish that, we expect to become a major contender in the Colorado Cannabis Industry."

Rod Clawson, Licensed Grower and Managing Member of Category One Botanicals LLC, reports, "The Colorado Buffalo Ranch Grow Facility rivals any commercial facility I have ever been involved with. Over the last decade I have been a General Manager for one of the largest Big Box Store Garden Departments in the state and I can say the professional team that has been assembled at Colorado Buffalo Ranch has the knowledge and experience to become an Industry Leader in Colorado."

CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity in 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 COO, 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.

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