PUEBLO, CO. , June 14, 2018 (GLOBE NEWSWIRE) -- CannaGrow Holdings, Inc. (OTC PINK: CGRW) A Liaison and Consultant providing turnkey solutions to licensed growers -- CannaGrow Holdings, Inc. announces NuGro Industries, Inc., Land Owner and Developer of the Colorado Buffalo Ranch Facility, has purchased an additional Olympia Steel Building, (https://www.olympiabuildings.com), for the installation of a new State-of-the-Art Post-Harvest Handling Facility.
Delmar Janovec, CEO, stated, "With the Buffalo Ranch Facility Phase I & II now operating at full capacity, the need for a standalone building dedicated to drying, curing, processing, and packaging has become increasingly apparent. The licensed Grower, Category One Botanicals, LLC, has outperformed original projections and with all six climate-controlled Ranger Greenhouses operational, the Fall harvest alone is being conservatively estimated to exceed 900 pounds. This increase in product volume will stretch the limits of the current 400 sq. ft. Drying Room, so a 1,600 sq. ft. climate-controlled facility has been designed to meet current production as well as the future needs as Phase III, IV, & V infrastructure is built-out and in production.”
Dr. John P. Janovec, COO, added, “During the last 12 months, Licensed Grower Category One Botanicals has made great strides in dialing in the Colorado Buffalo Ranch Cultivation Facility & Protocols. Their whole Flower products produced organically under sunshine combined with soil-based methods in state-of-the-art greenhouse environments have caught the eye of a growing list of buyers. To meet the demand, production and harvest cycles in the Ranger Greenhouses will be perpetual beginning in June through late April of the following calendar year. During this time all greenhouse grow areas will be operating at full capacity. While the high-volume cultivation methods are streamlined and efficient, the drying and curing processes have met frequent bottlenecks primarily due to space constraints of the current drying room. The addition of a state-of-the-art Post-Harvest Handling Facility will provide the space required to keep up with production volume and product demands.”
Rod Clawson, Managing Principle of Category One Botanicals, LLC, the licensed Grower, further commented, “I am pleased by the decision to add a drying, processing, and packaging facility to the Colorado Buffalo Ranch Facilities. It is a reasonable, logical next step in the development of one of the best organic grows in the State of Colorado, and it is another important milestone of the collaboration between the Land Owner and Developer, NuGro Industries, Inc., CannaGrow Holdings, Inc., the Manager of the Properties for the owner, and Category One Botanicals, LLC, the Licensed Grower.”
CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity of providing oversight as the Facilities Manager, working with the State/County Agencies and Category One Botanicals, LLC, the Licensed Grower for the facilities. The completion of this project will now provide the company the basis to begin generating revenues from Licensed Growers subleasing the Turnkey facilities being built to the specifications of CannaGrow COO, Dr. John P. Janovec, and Consultant, Jason Wells.
About CannaGrow Holdings, Inc.:
CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.
CannaGrow Holdings, Inc. does not and will not, until Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violate the laws of the United States of America.
CannaGrow Holdings, Inc. encourages the public to read the above information in conjunction with its year-end statement for December 31, 2017, and the quarterly statements filed in calendar year 2018, at: www.otcmarkets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.