ANAHEIM, CA--(Marketwired - Jun 29, 2016) - Greengro Technologies, Inc. (OTC PINK: GRNH) a world-class provider of eco-friendly green technologies, announces today that Management has entered into a Memorandum of Understanding with Cannabrands AG, an Austrian based private equity company, to provide agricultural equipment and lease financing for its cultivation projects. Upon consummation of a Definitive Agreement, Greengro will become the exclusive Vendor and supplier of all necessary equipment required to fortify their cannabis cultivation capacity.
This agreement will empower Greengro to bolster the Company's position in the marketplace, preparing GRNH for a strong anticipated upsurge in demand for farming capacity, industry wide.
"This is a great step forward in our preparation to facilitate serious production in the industry. We believe we are standing on the threshold of great developments, and we anticipate that this deal will bring momentum to the market at a time that could not be more pivotal," stated James Haas, CEO of Greengro Technologies, Inc.
Upon exploration of the Company's complementary means and objectives, meaningful dialog has ensued, and a strategic plan is being developed. Cannabrands AG, a publicly traded company listed on the Berlin Stock exchange, recently announced that they anticipate this endeavor (based on contributing factors) has the potential to generate revenues in the six-figure range for their Company.
The Company will keep shareholders updated as events unfold with the its new product line, as well as other projects currently underway.
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.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.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements