SOURCE: Grow Condos, Inc.

Grow Condos, Inc.

May 05, 2016 06:00 ET

Grow Condos Announces Eugene's Pioneer Park Development Now Called Nuggetville and Files Development Plans With the City

EAGLE POINT, OR--(Marketwired - May 5, 2016) - Grow Condos, Inc., a fully reporting publicly traded company under the trading symbol (OTC PINK: GRWC), a real estate purchaser, developer & manager of specific use industrial properties providing "condo" style turn-key grow facilities to support the cannabis industry, is pleased to announce that its 2nd development project based in Eugene, Oregon, hereinafter will be named Nuggetville and that it has filed development plans with the city of Eugene.

The general plans and the property can be viewed on the company website at the following link:

http://growcondos.com/locations

The plans call for Nuggetville to be on 2.65 acres in Pioneer Business Park, Eugene, Oregon and for building 33- 1500 square foot units or approximately 50,000 square feet of warehouse condominiums.

With Oregon's recent approval of it first recreational marijuana licenses management feels that this project will be very well received and is a good opportunity for us.

"We are off to a quick start in getting Nuggetville up and running. We are receiving indications of interest for this development and confident they could sell out quickly," said Wayne Zallen, CEO, Grow Condos, Inc.

About Grow Condos, Inc. Grow Condos is a fully reporting publicly traded company listed under the symbol GRWC: Pink Sheets. It is a real estate purchaser, developer & manager of specific use industrial properties providing "condo" style turn-key grow facilities to support the cannabis industry. We own, lease, sell and manage multi-tenant properties.

Like during the Gold Rush days in California, Grow Condos is focused on a pick-and-shovel approach to participating in the exploding marijuana industry. We finance the purchase and/or development of properties by offering investors private placement sponsorships, debt instruments, or limited partnerships. We believe there is a significant investor demand for such opportunities. Currently we own and manage a 15,000 square foot warehouse in Eagle Point, Oregon, own and are developing a property in Eugene, Oregon and are currently looking into other acquisitions in Oregon, Colorado, Washington, California and Nevada with like-minded investors who want to share in the growth of this dynamic new industry.

Additionally the company currently has an additional line of products and services to offer our partners, customers and tenants.

Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Grow Condos Inc, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Grow Condos Inc. ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Grow Condos, Inc. filings with the OTC Markets, Securities and Exchange Commission and/or the company's website.

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