VENTURA, CA--(Marketwired - Apr 20, 2017) - SGD Holdings, Ltd (OTC PINK: SGDH) has signed a Five Year Sub-Lease Agreement including multiple 3 year options for a three acre lot from CannaGrow Holdings, Inc. (OTC PINK: CGRW) on the same parcel as their Colorado Buffalo Ranch Grow Facility.
Harry Johansing, CEO, states, "After reviewing several opportunities that were presented as possible entries into the Cannabis Industry in the State of Colorado, our due diligence brought us to a very logical conclusion. There is a significant unmet need in Southern Colorado for a large capacity Extraction Lab and Processing Facility. After negotiations with the property owner, NuGro Industries, Inc., SGD Holdings has committed to equipping a building and infrastructure with state-of-the-art equipment, with the capability to extract cannabis oils and a commercial kitchen for processing these oils into a variety of edibles and other marketable consumer items."
Johansing added, "With the 20,000 sq. ft. Colorado Buffalo Ranch Grow Facility next door, we can be assured of the quality and volume of product needed to produce wholesale quantities of oils, edibles, and other infused products. Our new board member, Delmar Janovec, will be instrumental in managing the process of submitting plans, securing building permits, and overseeing the entire construction process. The current lease is contingent upon the Huerfano County Commissioners finalizing their licensing requirements for Extraction/Processing Facilities and their subsequent approval of a Conditional Use Permit. NuGro Industries has committed to being fully prepared to submit an Amended Land Use Application for Colorado Buffalo Ranch No. 5 Lot 61 by the anticipated date the Commissioners approve the extraction and processing of cannabis in Huerfano County."
Forward-Looking Statements: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes and delays in plans and schedules, or market acceptance. SGD Holdings, Ltd. undertakes no duty to update these forward-looking statements.