ANAHEIM, Calif., April 27, 2017 (GLOBE NEWSWIRE) -- Greengro Technologies, Inc. (OTC:GRNH), a world-class provider of eco-friendly green technologies, is pleased to announce that the Company has established the funding to initiate the building of a new IGOT420 Marijuana Dispensary and Gro in North Hollywood. All licensing and permitting has been secured, and terms on regulation compliant property have been solidified (https://igot420.com/). The dispensary will be the flagship location for the launch of Greengro’s GenoBreeding operation. An advanced Greengro initiative to bring to market an evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.
In anticipation of a management contract, Greengro will utilize its acquired active application and streamline production for the swift launch operations. Measure M provisions enable shops to secure compliance with MCRSA by allowing the City Council to issue permits and start taxing and regulating retailers and producers of pot products. Scheduled to Open September 1st, 2017 Greengro will follow up with final Grand Opening in the next months to come once we're thru most of the construction. You can always keep informed by using our Investor Page https://greengrotech.com/investors/
According to SIVALLC.com, statistics reveal that marijuana is on the rise. By 2020, it is estimated that the U.S. market for legal cannabis will hit $11 Billion. Since the end of 2014, dispensary jobs have grown 90%. “We continue to mobilize toward creating a substantial footprint in the industry. We believe that the operational success of this dispensary, in likeness to our other advantageous divisions, will evolve into a highly duplicable and thriving franchise model,” stated James Haas, Chief Executive Officer, Greengro Technologies.
Haas continued: “Although uncertainty continues in the political arena, there is one thing we are entirely confident of. That’s the fact that this industry is blazing forward. Here in our territory, and in other states that are surely paying very close attention to the robust revenues coming in through licensed and tax paying establishments. We believe that we can build a franchise model with this dispensary that can ultimately go nationwide as legalization spreads.”
According to a report from New Frontier Data, it's forecasted that tax revenues in states with legalized marijuana will reach $1.8 billion, of which $1.4 billion will be from cannabis specific taxes. North American legal marijuana sales totaled $6.7 billion in 2016, and in another report by cannabis market research firm New Frontier Data projects the industry will top 255,000 jobs by 2019 and reach $24.5 billion in sales by 2025.
As markets continue to open, creating evolving new industry demands, Management is keenly focused on the capitalization of congruent developing niches that seamlessly align with Greenro’s core business model. The Company will keep shareholders updated as events unfold with the its new product line, as well as other projects currently underway.
Greengro’s GenoBreeding program is an advanced initiative in keeping with the cannabis industry’s increasing reliance on genetics. Through the articulate heightening of hereditary attributes and the variation of inherited characteristic in plants, management’s vision is to help growers create more robust, healthier, stronger, and upon demand, tailored commercial cannabis strains that share desirable inherited characteristics.
About Greengro Technologies: Greengro Technologies (OTC:GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.
The company’s websites: www.greengrotech.com, https://igot420.com/ offer regular updates including educational videos, projects updates, recipes and nutritional information, and where to find the company’s products.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.