ANAHEIM, CA--(Marketwired - Oct 12, 2016) - Greengro Technologies, Inc. (OTC PINK: GRNH), a world-class provider of eco-friendly green technologies, today announced its joint venture agreement with Cannabrands AG, an Austrian-based private equity company specializing in cannabis industry investments. Cannabrands is listed on the Berlin Stock Exchange under ticker symbol: (BERLIN: JPK1:GR).
The joint venture is based on the franchising of GreenGro subsidiary Vertical HydroGarden, a premier U.S. retailer of year-round hydroponic supplies. Vertical HydroGarden, Inc., which supports businesses in the field of controlled environment agriculture (CEA), is the industry-leader in modular automated hydroponic grow-rooms, portable grow-containers, greenhouses, hydroponic and aquaponics supplies and cultivation consulting services.
In preparation for a worldwide surge in demand for improved automated indoor crop growing capabilities, this mutually advantageous partnership enables Cannabrands to establish a working model for franchising Greengro's Vertical Hydrogarden Stores throughout the European region, attracting international exposure through the use of state-of-the-art grow facilities.
"Together with our storefront Vertical Hydrogarden franchises appearing throughout Europe, this joint venture initiates a project offering 'student immersion' courses for Europeans to take advantage of a campus-like course of study in the U.S. focusing on CEA growing systems and techniques in anticipation of expected worldwide growth of the legalized cannabis market," said James Haas, CEO of Greengro Technologies, Inc.
Haas stated that his company's franchise program benefits facility owners by ensuring consistent production and profitability.
"We provide a state-of-the-art grow environment and the franchise is offered with a purchase order to acquire the entirety of the produce crop that a facility harvests."
The two companies will first initiate their European Franchising Model in Germany. As stated in a recent Huffington Post article -- "Germany will legalize medical marijuana next year, the country's health minister said." The article continued: "The German cabinet decided Monday to approve the measure for seriously ill patients who have consulted with a doctor and 'have no therapeutic alternative,' according to a press release from the German Health Ministry."
Stated Haas: "We are very confident that Cannabrands AG has the wherewithal to make this venture a great success, and we are very pleased with the way this has come together."
According to the agreement, Cannabrands will facilitate the marketing efforts needed to engage qualified students for the USA Cannabis Student Immersion "study-abroad" program. Cannabrands will also be responsible for selecting the appropriate European locations for opening Vertical Hydrogarden storefront franchises.
Greengro Technologies will be providing educational handbooks, tutorials, instructional manuals, and business practices guidelines for Cannabrands AG's exclusive use in the operation of its European Vertical Hydrogarden franchise stores as well as for the USA CEA Cannabis Student Immersion Program. The Parties will be 50/50 equal partners in the Joint Venture and entitled to the benefits thereof on a pro-rata basis.
About Greengro Technologies: Greengro Technologies (OTC PINK: GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.
The company's websites: www.greengrotech.com, www.cbdventures.com, www.420scan.com, www.growcameras.com, www.verticalhydrogarden.com, and www.bpgardens.com offer regular updates including educational videos, projects updates, recipes and nutritional information, and where to find the company's products.
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