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CANNAGROW HOLDINGS (OTCMKTS:CGRW) Updates On The Colorado Project

CANNAGROW HOLDINGS (OTCMKTS:CGRW), a liaison and consultant firm providing turn-key solutions to licensed cannabis growers, announces an update on its key Colorado Project. Delmar Janovec, the CEO, said that NuGro industries have signed a deal to acquire the first of two 3,300 square feet greenhouses made by Nexus Greenhouse Systems.

The details of purchase order

CANNAGROW HOLDINGS (OTCMKTS:CGRW) submitted the purchase order from Nexus Greenhouse Systems on February 2, 2015. It has deposited the necessary upfront fee to start processing of shop drawings. The seller has accepted for a material delivery date that will come within a 90-day timeframe after approval of shop drawings. Nexus has prepared a list of qualified contractors for the project.

The significance

CannaGrow is getting the greenhouse from Nexus Greenhouse Systems. It is a reputed firm that delivers state-of-the-art facilities to buyers. The system is well built to provide an efficient, controlled environment by using specialized equipments and monitoring systems. CANNAGROW HOLDINGS (OTCMKTS:CGRW) will get an optimal production facility for their licensed cannabis growers sub-leasing grow space. The system is uniquely built so that they also get the benefits of natural sunlight each day.

Optimal production facility

Mr. Janovec said that the optimal production facility will cover multiple phases. After completion, the Grow facility will have sixteen hoop-houses, a 3,200 square feet ‘Olympia Steel Head-Works’ building and 6,600 square feet Nexus Greenhouse. NuGro Industries entered into a construction/service deal and has already paid an initial fee of $35,360 to the area utility provider, ‘San Isabel Electric Association.’ It will install a three-phase 277/480 volt line that will produce the electrical voltage needed to operate the Cultivation facility.

The management view

Janovec said that NuGro Industries has exceeded CANNAGROW HOLDINGS (OTCMKTS:CGRW)’s expectations in respect to being a build-to-suit developer. The management is delighted with the progress of Colorado project. It will continue to work with the state/county agencies and various contractors so that the project achieves its operational status.

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