Greengro Technologies Signs Facility, Design and Consulting Deal With Planned Arizona Medical Cannabis Cultivation Facility
ANAHEIM, CA -- (Marketwired) -- 07/08/13 -- Greengro Technologies (PINKSHEETS: GRNH) announced today that it has signed an agreement to provide facility design and consulting services for a major planned Arizona medical cannabis cultivation facility. The company expects the deal to be worth $300,000 plus ongoing maintenance services of several hundred thousand dollars per year. The parties will announce the full scope of design services, equipment, and service contracts after final approval under the Arizona Medical Marijuana Act.
Over the past year, the company has demonstrated its expertise in design, construction and installation of greenhouses using both traditional and newer vertical farming methods. Greengro's (GRNH.PK) eco-friendly designs and products have attracted the attention of large scale projects on the West Coast and from other regions such as Arizona, Colorado, Illinois, Michigan and Washington State.
Dozens of medical cannabis centers are on track to open in Arizona expected to generate tens of millions of dollars in revenues this year according to MMJ Business Daily. The Colorado, Oregon and Washington State markets also are expected to grow. State and local governments are publishing regulations that govern all aspects for a medical cannabis facility, including design, operations, staffing, and ongoing maintenance.
James Haas, Chief Executive Officer of Greengro Technologies, commented, "It is an exciting time to be part of this emerging market. As medical cannabis comes to the forefront of the discussion in our society, it is imperative that we create good models that work for regulatory authorities, patients and businesses. As legal guidelines become clearer, businesses will invest, patients will have safe access, and governments will gain billions in new tax revenues."
Greengro's recent acquisition announcement of Vertical Hydrogarden gained in house expertise and equipment lines essential to pursue large opportunities. Information can be found in the design/consulting section at www.greengrotech.com. Greengro's staff and affiliates provide world class efficient designs, facility planning and grow room construction. These services will be combined with Greengro's product line of vertical and traditional cultivation, hydroponics, FLUX lighting, and environmental systems which allows the company to address clients of any size and budget.
Greengro Technologies 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. Its customers include restaurants, community gardens, small and large scale commercial clients.
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.
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Contact: Greengro Technologies, Inc. James Haas CEO 714-441-1408 Office 714-441-1409 Fax Email Contact
Source: Greengro Technologies Inc.