ANAHEIM, Calif., February 26, 2018 — GreenGro Technologies, Inc. (Ticker: GRNH), a leader in the indoor agriculture technology market, today announced the highly anticipated grand opening of its Cathedral City-based dispensary through its tenant igot420. The anticipated opening will occur, on “4:20” 2018, with a soft opening scheduled for April 1, 2018. The Company noted that the only matter that could cause a delay would be associated with its application with the State of California for a temporary license to sell recreational cannabis. The Company’s current delays were due to necessary modifications made to ensure the dispensary would meet the state of California new design standards for all new microbusiness models.
“As the burgeoning cannabis business begins to reach maturity, more and more of today’s entrepreneurs will look for new and innovative methods to maximize their earnings potential. This change in the industry’s dynamic can potentially result in greater demand for our state-of-the-art turnkey dispensaries, which can increase profits of a dispensary by as much as 50% at the retail store level,” said James Haas, Chairman and Chief Executive Officer of GreenGro Technologies, Inc. “The technological, financial and operational support we have provided our partners such as igot420, is consistent with our long-term strategy of expanding our presence initially across California, which should emerge as the single largest cannabis market across the nation. This statewide expansion strategy coupled with our industry-leading technology should support our belief that 2018 should be a breakthrough year for the company and our shareholders,” concluded Mr. Haas.
The grand opening of the Company’s igot420’s second dispensary, follows the opening of its flagship store in North Hollywood, a 14,000 square foot store which opened in October 2017. GreenGro Technologies was able to use proceeds from last year’s $4 million financing to secure the buildout of the Cathedral City dispensary and is well underway to secure igot420’s third and fourth locations in southern California. The Company noted that it expects management contracts from its igot420 dispensary to contribute to its growing revenue streams before the end of second quarter.
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About GreenGro Technologies
GreenGro Technologies (Ticker: 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, offer regular updates including educational videos, projects updates, recipes and nutritional information, and where to find the company’s products. https://www.facebook.com/GreengroTechnologiesInc.
About Investor Relations Partners
Investor Relations Partners, Inc. (IRP) is a full-service investor relations firm serving a global client base. The principals of IRP have received top industry awards for their investor relations programs for a number of high-profile companies, including, but not limited to, Starwood Hotels & Resorts Worldwide, ValueVision Media, Taro Pharmaceuticals, and LJ International. The firm’s principals have executed effective investor relations programs for dozens of public companies, ranging from emerging micro-cap companies to multinational corporations with market capitalizations in excess of $15 billion. For further information on IRP, please visit the firm’s Website at www.irpartnersinc.com.
Forward Looking Statements
This release may contain forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to, the possibility that some or all of the matters and transactions considered by the Company may not proceed as contemplated, and by all other matters specified in the Company’s filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company’s filings with the Securities and Exchange Commission (www.sec.gov), including its recent periodic reports.