ANAHEIM, Calif., May 09, 2017, GRNH (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 $4.4 Million in funding to facilitate the build out of a second Marijuana Dispensary in North Hollywood. Set approximately 2 hours from Greengro’s flagship location in North Hollywood, Cathedral City’s operation will be strategically designed to reflect the brand and operational structure of its North Hollywood counterpart, in anticipation of continued regional expansion.
The necessary Conditional Use Permit has been granted, and the Company plans to begin construction in mid-June with expected completion by early fourth quarter, 2017. “The ability to move forward on this undertaking is filled with excitement and anticipation. We can’t wait to break ground” stated James Haas, Chief Executive Officer, Greengro Technologies. The Company plans to have the build-out completed by Sept 2017, in time for an anticipated October 1st Grand Opening. Greengro Technologies, Inc. recently announced that the Company has established the funding required 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.
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%.
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.
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. 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 the Greengro’s core business model. The Company will keep shareholders updated as events unfold with its new product line, as well as other projects currently underway.
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, and 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, 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.
Greengro Technologies, Inc.