EAGLE POINT, OR--(Marketwired - Sep 16, 2016) - Grow Condos, Inc. (OTCQB: GRWC), a fully reporting publicly traded company specialized in cannabis industry related "Condo" style real estate and turn-key grow facilities, is pleased to announce that the Company has definitively locked in the terms to move forward on the Nuggetville Project. As per the secured agreement, the Company will be obtaining engineering plans for submission to the City of Eugene for the issuing of building permits. The Nuggetville property consists of an ultimately thirty-three unit state-of-the-art warehouse, designed to be 1,500 square feet each. Upon completion the property will consist of an estimated 50,000 square feet, becoming one of the territory's leading customized cannabis production facilities.
Spanning 2.65 acres in the Pioneer Business Park in Eugene, Oregon, the cutting edge 33 individual warehouse units are slated to be custom built by distinguished contractor, Nering Construction, LLC of Eagle Point, Oregon. Nering is an approved dealer of high quality steel buildings from General Steel of Littleton, CO, from whom the Company will be purchasing the core units.
"We are very pleased to be able to expand in this advantageous segment of the industry. This new property will give us a great opportunity to offer tailored space for production and processing in a market ripe with growers aggressively seeking suitable solutions," stated Wayne Zallen, Chief Executive Officer, Grow Condos, Inc. He concluded: "We firmly believe that the greatest potential for a high level of success is when timing and opportunity meet. At this stage in the game in the cannabis industry, it's evident that the revenue potential here can be exponential."
The Company recently announced that a leading engineering and surveying firm had been retained; Geomax, Inc. of Cottage Grove, Oregon, a team well equipped to handle the project, and a familiarity with the City of Eugene building code requirements in order to enable maximum efficiency. The general plans as well as the property can be viewed on the Grow Condos website at the following link: www.growcondos.com/nuggetville. All interested parties are happily encouraged to be added to the waiting list.
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 to 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.
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.