As CBD Ventures Advances, Provisional Licensing and Funding Sources Are Secured to Resume Operations on Cathedral City Construction
ANAHEIM, Calif., Oct. 18, 2019 (GLOBE NEWSWIRE) -- GreenGro Technologies, Inc. (OTC: GRNH), is pleased to announce that the Company’s wholly owned subsidiary, CBD Ventures has successfully developed a proprietary new breed of Hemp, branded as “Red Blossom, Red Bubblegum and Berry Bubblegum; a finely structured amalgamation of the “Red Cross” and Cherry Blossom and Bubblegum” strands.
“This is a substantial achievement for us. We believe that this is only the beginning. Our vision and GenoBreeding focus is in the creation and distribution of highly refined varieties into the bolstering Cannabis marketplace,” stated GreenGro Technologies Chief Executive Officer, Matthew Burden.
The Company’s signature GenoBreeding operation, an advanced GreenGro initiative, is structured to bring to market a focused evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.
Following a substantial hiatus, the Company has established $750k for the engagement of a new engineering contractor to resume construction on the existing Cathedral City dispensary project.
Upon the establishment of additional licensing for delivery and distribution, as final engineering plans materialize, management plans to mobilize by retaining a reputable contractor to conclude the buildout and launch operations.
The Company’s provisional licensing has been granted for Micro Business, Dispensary, Delivery, Cultivation, Distribution, and Manufacturing.
The Cathedral City territory, strategically located approximately 2 hours from GreenGro’s flagship location in North Hollywood, will be branded and designed to reflect the operational structure of its North Hollywood counterpart, in anticipation of continued regional expansion.
About GreenGro’s Proprietary GenoBreeding Program: 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 the its new product line, as well as other projects currently underway.
About GreenGro Technologies, Inc.GreenGro Technologies (OTC :GRNH) is a vertically-integrated provider of eco-friendly state-of-the-art technological solutions to the cannabis industry. The Company is a trusted partner to the cultivation, extraction, production and retail aspects of the cannabis market through a combination of three operating divisions that encompass extraction, CBD production and Genobreeding development. Each division is able to leverage the strengths of the other, creating a synergistic, efficient and highly profitable business model. Additional details can be found by visiting the Company’s website at www.greengrotech.com.
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 several 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.
For additional information about GreenGro Technologies and its solutions, please visit www.greengrotech.com.
Matthew Burden CEO
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