SOURCE: Grow Condos, Inc.

Grow Condos, Inc.

November 03, 2016 06:00 ET

Grow Condos, Inc. Incorporates New Wholly Owned Subsidiary, Smoke on the Water

EAGLE POINT, OR--(Marketwired - Nov 3, 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 incorporated a new division designed to capitalize on Oregon's growing level of recreational acceptance through the development of turn-key real-estate solutions for Marijuana-friendly campgrounds and resorts.

The company's strategy is to build out and brand "Smoke on the Water" as a stand-alone company which could potentially be spun out as an independent entity. Plans call for the company to initially develop the property through acquisition, subsequently rebranding the existing RV business to represent the Smoke on the Water brand. The company is currently actively looking for RV parks for sale to begin the operational launch of the brand.

Also slated for release is "SmokeOnTheWater.Club," where travelers can join a membership based environment designed to inform as well as reward like-minded consumers through a gratifying loyalty program.

According to a recent report on the DenverPost.com, "For the fifth year in a row, Colorado hosted a record number of tourists who have left a record amount of cash in their wake. The Colorado Tourism Office on Wednesday reported that 77.7 million visitors to the state in 2015 spent an all-time high of $19.1 billion, generating $1.13 billion in state and local taxes, an increase of almost 7 percent from 2014." Although there are no official numbers distinguishing the reason for the increase, according to MarketWatch.com in 2014 "...one travel booking site saw searches for Denver jump nearly 75% year-over-year months after recreational marijuana use was legalized in Colorado."

"Being in the real-estate industry, we see how this growing paradigm shift is permeating the various sectors, and have discovered that there is a strong and growing demand for Marijuana friendly vacationing," stated Wayne Zallen, Chief Executive Officer. "We believe that 'Smoke on the Water Resorts' is going to be a real win-win situation for campground owners, not only by virtue of the revenue sharing structure, but because hassle-free lodging that caters to this sector is expected to draw vacationers from far and wide."

As the Company mobilizes to facilitate another thriving sector of this budding industry, Grow Condos sets an advantageous strategy in motion to build out branded RV campground and resort accommodations. Upon project launch, the Company plans to provide fully functional vacationing solutions to campground operators and owners seeking to fill the growing demand for stress free and acceptable vacationing for the pro-personal choice and marijuana smoking community.

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 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.

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