SOURCE: The NOW Corporation

March 26, 2014 07:00 ET

The Now Corporation to Provide Power for Planned Colorado Hydroponic Farm Through Medical Marijuana State License Regulations

PORTLAND, OR--(Marketwired - Mar 26, 2014) - The Now Corporation (OTC: NWPN) (the "Company" or "NOW") is pleased to announce it has entered into an agreement to provide power for a planned commercial hydroponics facility possibly named "THE GREEN ACRE INC" (TGA) in the state of Colorado to be built on a land package consisting of 500 acres, contracting to use the owners' full 10,000 acres; plus The Now Corporation will be a viable partner in earning a 50% interest in this project growing Hemp and Medical Marijuana allowed under the Colorado State farm bill.

Our competitor Mountain High in Colorado holds an option to purchase nine (9) acres of land common known as the "Isabelle Property" located at 10452 Isabelle Road, Lafayette, Colorado 80026; the Isabelle Property has been one of the largest greenhouse marijuana grow facilities in the State of Colorado, with a total of 42,000 sq./ft. under roof (approx. 1 acre). The advanced marijuana cultivation operation at the Isabelle Property utilizes proprietary techniques to grow over 50 specific strains of marijuana for medical and recreation use.

The retail marijuana market in the U.S. is estimated at approximately $30 billion annually according to a recent cover story in the financial publication Barron's (Barron's cover story, June 3rd, 2013). Currently 21 states and the District of Columbia have legalized marijuana for medicinal use, with Colorado and Washington also approving recreational use.

The Company will provide power for the planned commercial hydroponics facility and will pursue other companies in this medical marijuana business providing through the installation of exoPOWER wind turbine system. Pursuant to the letter of intent ("LOI") NOW entered into with SP Power Farm Group Ltd. ("SPpf"), the intellectual property owner and licensor of the exoPOWER wind turbine system, and SP Power Farm Group B.C. Ltd. ("pfBC"), the original equipment manufacturer ("OEM") of the exoPOWER wind turbine system, NOW will develop a mid-wind application that will fulfill the unique requirements of the planned commercial hydroponics facility. It is anticipated that the planned commercial hydroponics facility will be off-grid and all power requirements will be fulfilled by the exoPOWER wind turbine system.

The Owner/Operator of the planned commercial hydroponics facility will be required to secure a State license to cultivate, harvest, process, package and distribute Hemp, for industrial applications, along with a separate license to cultivate, harvest process, package and distribute Cannabis for medicinal purposes, which it plans to do so in the very near future.

Researchers discovered in the 18th century that plants absorb essential mineral nutrients as inorganic ions in water. In natural conditions, soil acts as a mineral nutrient reservoir but the soil itself is not essential to plant growth. When the mineral nutrients in the soil dissolve in water, plant roots are able to absorb them. When the required mineral nutrients are introduced into a plant's water supply artificially, soil is no longer required for the plant to thrive. Almost any terrestrial plant will grow hydroponically, and hydroponics is also a standard technique in biology research and teaching.

One of the benefits of hydroponics is that it saves water; it uses as little as 1/20 the amount as a regular farm to produce the same amount of food. The water table can be impacted by water use and run-off of chemicals from farms, but hydroponics may minimize impact as well as having the advantage that water use and water returns are easier to measure and monitor. This can save the farmer money by allowing reduced water use and the ability to measure consequences to the land around a farm. 

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