Company’s Recent Financing Agreement Allows for Further Advancement
of its Mission Through Five Pillar Strategy – GrowLife Hydroponics,
GrowLife Products, GrowLife Eco e-Logistics, GrowLife Licensing, and
GrowLife Cube Subscription
Company Website:
http://www.growlifeinc.com
KIRKLAND, Wash. -- (Business Wire)
GrowLife,
Inc. (PHOT), one of the nation’s most recognized indoor cultivation
service providers, today announced that it has secured additional
funding from private investment firm Chicago Venture Partners (“CVP”), a
leading provider of capital to emerging and growth-stage small cap
companies. The funding agreement closed August 11, 2017. GrowLife, Inc.
sought additional funding as a part of its 2017/2018 expansion plan,
which includes bolstering the Company’s five pillar business strategy to
capture the rapidly growing organics, greens, and plant-based medicine
industries.
GrowLife, Inc.’s five pillar strategy is comprised of GrowLife
Hydroponics, a distribution business unit built around the Company’s
direct sales force; GrowLife Products, a division featuring
GrowLife-branded supplies, financial services, packaging, and supplies
to support indoor growing operations; GrowLife Eco e-Logistics, an
online marketing and distribution channel; GrowLife Licensing, a retail
licensing arm that has already established GrowLife Retail License
retailers in Canada and the United States; and GrowLife Cube
Subscription, a consumer-targeted indoor “grow it yourself” subscription
package.
This most recent financing agreement will allow GrowLife, Inc. to deploy
the resources needed to pursue its multi-faceted growth strategy. The
Company’s growth strategy includes the establishment of multiple
subsidiary entities, hiring of new executive and sales talent positions,
pursuing asset purchases, and rolling out new and innovative product
offerings.
“Our most recent financing agreement enables us to continue our robust
expansion and differentiation plans and achieve our mission of helping
customers be successful,” said Marco Hegyi, CEO of GrowLife, Inc. “Our
focus on bringing operational efficiencies to this market, and lowering
production costs for our customers while utilizing environmentally
sustainable practices will further position us as a leader in the space.”
For more information about GrowLife and GrowLifeEco.com,
please visit the company website. Additional commentary on the Company
as well as the industry is also provided on the CEO’s blog.
Specific financials and corporate actions on GrowLife (PHOT), can be
found in the filings at the SEC
website.
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 representative covering the United States and Canada,
regional centers and its e-Commerce team, GrowLife provides essential
goods and services including media, industry-leading hydroponics
equipment, plant nutrients, and thousands more products to specialty
grow operations. GrowLife is headquartered in Kirkland, Washington and
was founded in 2012.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171010005861/en/
Contacts:
CMW Media
Andrew Hard, 888-829-0070
Chief Executive Officer
andrew.hard@cmwmedia.com
www.cmwmedia.com
Source: GrowLife, Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.