ANAHEIM, Calif., Sept. 27, 2017 (GLOBE NEWSWIRE) -- GreenGro Technologies, Inc. (OTC:GRNH), a world-class provider of eco-friendly green technologies, today announced that it has completed the buildout of its flagship igot420-branded marijuana dispensary and grow, located in North Hollywood, California, on-time, within budget and in advance of its expected grand opening, scheduled for mid-October 2017. The grand opening of the Company’s flagship igot420 dispensary will also represent a new revenue stream for the Company consisting of leases and management contracts. Additional details of the North Hollywood flagship igot420 dispensary will be disclosed by its new tenants, the owners and operators of the igot420 brand, over the next several weeks.
“The completion of our flagship igot420-branded marijuana dispensary and grow represents one of the greatest milestones in the Company’s history. Not only are we about to launch one of the largest dispensaries across all of Los Angeles, at nearly 14,000 square feet but, more importantly, it will represent one of the most efficient and profitable dispensaries in the market due to utilization advanced indoor gro systems,” said James Haas, Chairman and CEO of GreenGro Technologies, Inc. “It is this same system that serves as GreenGro’s key competitive advantage as it enables our tenants and strategic partners to produce crops with increased yields, higher quality cannabis and, as a result, increased profitability at the store level by as much as 50%. I am pleased to see that GreenGro Technologies is running strong on all cylinders. The initial success we are already experiencing from our partnership with the igot420 brand together with our emergence as one of the key players in the branding and cloning of cannabis has paved the way for accelerated financial growth in the coming quarters, all of which of course is designed to enhance shareholder value,” concluded Mr. Haas.
The Company today also noted that it has already begun the initial construction phase of its second igot420-branded dispensary located in Cathedral City. The proximity of the Company’s Cathedral City dispensary to its North Hollywood flagship store is a reflection of management’s efforts to help build and strengthen its partners’ brand recognition in their respective markets, which in this case is focused on supporting the igot420 brand initially across Southern California, one of the nation’s largest cannabis markets.
About GreenGro Technologies, Inc.
GreenGro Technologies, Inc. (OTC:GRNH) is a national leader in both indoor and outdoor aquaponic and hydroponic systems and grow rooms, with specific domain expertise in agricultural science systems serving both the consumer and commercial farming markets. The company's customers include restaurants, community gardens, and small- and large-scale commercial clients. For more up to date info like our Facebook page at https://www.facebook.com/GreengroTechnologiesInc?ref=hl
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.