Business
GreenGro Technologies Announces Sale of 90,000 Hemp Seeds for First Sale Since Expansion Into the Hemp Seed Market
GreenGro Technologies Announces Sale of 90,000 Hemp Seeds for First Sale Since Expansion Into the Hemp Seed Market.
About this update from Greengro Technologies, Inc.
[{"type":"text","content":"\nANAHEIM, Calif., June 26, 2019 (GLOBE NEWSWIRE) --  GreenGro Technologies, Inc. (OTC: GRNH), a provider of eco-friendly green technologies for the cannabis industry, announced today that in less than 30 days since the launch of the Company’s hemp seed farm in Southern California, CBD Ventures Inc.— a CBD and hemp focused division of GreenGro Technologies which oversees the hemp seed farm — has already signed its first contract and completed its first sale.  This near-immediate success is in direct correlation to the growing demand for high quality CBD hemp seeds which GreenGro Technologies is perfectly situated to develop and distribute, particularly with the science contributed by its Genobreeding Division. In a study by Wall Street research firm Cowen and Company, 2018 retail sales of CBD consumer products in the U.S. were estimated to total between $600 million and $2 billion. Conservative estimates forecast sales to reach $16 billion by 2025, which includes health and wellness products, food & beverage, beauty, and vapor items.\n Company Adds Eight Sales Executives to Develop and Support the Hemp and Seed Business As the Company builds its footprint across the nation, GreenGro Technologies is focused on ensuring it will have the capacity to meet the market’s growing demand and expects to further strengthen its position through a combination of joint ventures and strategic alliances in key geographic regions outside of California.  As part of this effort, the Company has already added eight outside sales executives to its management team as it ramps-up its hemp seed business to meet anticipated growing demand.  The new sales team will report directly to Chairman, James Haas, who has been focused almost exclusively on spearheading the Company’s business development efforts since relinquishing his prior role as CEO to Matthew Burden, an accomplished senior executive whose qualifications have been instrumental in placing the Company on track towards expansion and profitability since his recent appointment. “Due to the market’s instant demand for our feminized low-THC, high-CBD hemp seeds, the Company feels this is a clear testament of our efforts to grow the reputation as a company who is able to develop and distribute large quantities of CBD hemp seeds with the...