KIRKLAND, Wash., March 21, 2019 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTC: PHOT) (“GrowLife” or the “Company”), one of the nation’s most recognized indoor cultivation product and service providers, today announced company executives’ return from Spannabis 2019, the world’s largest hemp expo and trade show in Barcelona, Spain, with newly formed relationships and a deeper understanding of the hemp and cannabis cultivation markets throughout the region that could support international expansion of its EZ-Clone Pro Commercial product line.
As the Company continues to eye global expansion, Spannabis provided valuable insight for executives into the well-established hemp cultivation industry. Currently, there are 13 countries in Europe that allow for legal commercial hemp production. Since the passing of the farm bill in 2018 which made hemp legal in the United States, additional European countries are considering regulatory changes. These changes would open additional hemp production markets throughout the continent and provide increased demand for the EZ-Clone Pro Commercial product line. The opportunity to showcase the Company's proprietary product lines to multiple international companies has assisted in obtaining support for this potential expansion. Additionally, while at Spannabis, the Company spent valuable time with large distributors of plant cultivation equipment who have footprints in various areas of the world.
According to Statista, spending on legal cannabis is projected to reach 63.5 billion U.S. dollars by 2024 globally. Additionally, global marijuana sales, according to The Motley Fool, are expected to grow 38% to almost $17 billion this year alone.
“We are returning from this international conference more enthusiastic than ever after learning so much about the hemp and cannabis production in Europe. At the conference, there were many incredible leaders who shared support for the idea of global expansion of GrowLife and the EZ-Clone product line,” said Joe Barnes Executive Vice-President of Sales and Marketing. “Interestingly, we learned that hemp cultivation practices are seemingly less advanced than in the United States. European hemp growers are using more traditional farming methodologies with little use of more efficient technologies. This immediately struck me as an opportunity to showcase what our company and state-of-the-art proprietary products can do in terms of reducing costs for hemp cultivators. We can confidently say attending Spannabis helped us to gain a better understanding of the European market and pave the way for our Company’s potential expansion there.”
The international Spannabis conference hosted more than 300 exhibitors and brought together the top brands from across the world and is seen as an informational outlet that also involves unique networking opportunities.
For more information about GrowLife, including the CEO’s most recent video statement, visit the company’s website. Products can be purchased at ShopGrowLife.com in the U.S. and GrowLifeHydro.ca in Canada.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
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