PUEBLO, CO, Sept. 11, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CannaGrow Holdings, Inc. (OTC PINK: CGRW), a Liaison and Consultant providing turnkey solutions to licensed growers -- CannaGrow Holdings, Inc. announces a First Right of Refusal agreement has been reached with NuGro Industries, Inc., Land Owner and Developer of the Colorado Buffalo Ranch Facility.
Delmar Janovec, CEO, stated, "Our long-range goal from day one was to eventually purchase the entire property at Colorado Buffalo Ranch from property owner, NuGro Industries. Since there are major breweries and nationally recognized name brands entering into joint ventures / partnerships with cultivators, we wanted to make certain that CannaGrow Holdings is positioned to take advantage of any opportunities that might arise. As Financial Institutions begin to ease policies in regard to the Cannabis Industry, the option to secure more traditional non-diluting financing should become available.
Janovec went on to say, “Maintaining Shareholder Value has always been of the utmost importance and CannaGrow Holdings has adhered to a rigid policy of no stock issuances. We have successfully followed that policy for over four years and plan to follow it into the future. With the Colorado Buffalo Ranch now operating at a sustainable capacity and producing top quality cannabis, the time has come to start exploring the different avenues leading toward full ownership of the property.”
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 Production Manager, 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.