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CannaGrow Holdings Announces Shareholder Update on Colorado Project

2014-11-20 06:31 ET - News Release

CENTENNIAL, CO(Eteligis Inc.)

CENTENNIAL, CO, United States, via ETELIGIS INC., 11/20/2014 - - CannaGrow Holdings, Inc., (OTC Pink: CGRW) (PINKSHEETS: CGRW), -- A Liaison and Consultant providing Turn-Key solutions to licensed Growers announces an update on the Colorado project.

Delmar Janovec, CannaGrow Holdings, CEO, comments, "Since the signing of the Land and Facilities Lease with NuGro Industries on October 8, 2014, the Company has been involved as a Liaison interfacing with engineers and architects for the various project work requirements. These project tasks involve the application for a commercial well, the design for the site plans, and meetings with the Greenhouse / Head-house manufacturer along with various County Agencies. There has been much progress made in all of these project areas and we anticipate that NuGro Industries will be submitting the final Site Plans to the County for approval of the development in Huerfano County within the coming weeks.

The Land and Facilities Lease executed with NuGro Industries was a "Build to Suit" agreement. The entire project will be built to our exact specifications under the guidance of our own resident expert, Dr. John P. Janovec. Once the facility is completed revenues will be derived not only from sub-letting the turnkey facility to Licensed Growers but also from continued consulting agreements between CannaGrow Holdings and the Growers. CannaGrow Holdings will be offering a complete package to include Facilities and Experience. We will strive to make progress each week which will enhance CannaGrow Holdings move into the Medical-Recreational Marijuana industry in Colorado."


CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders

CannaGrow Holdings, Inc. is currently working with a website designer to update its website to reflect the new business model that will be forthcoming in the very near future.

CannaGrow Holdings, Inc. does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violate the laws of the United States of America.

CannaGrow Holdings, Inc. encourages the public to read the above information in conjunction with its year-end statement for December 31, 2013, and the quarterly statements filed in calendar year 2014, at www.PinkSheets.com.

The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.


Delmar Janovec

CannaGrow Holdings, Inc.

Investor Relations



SOURCE: CannaGrow Holdings, Inc.

Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=28532 - Link to submission on http://www.eteligis.com
http://www.eteligis.com/FileHandler.aspx?submissionRequest=28532&documentRequest=19778 - CGRW_11-20-2014_KAH_ETL.doc

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