Business
Greengro Technologies, Inc. Locks Down Next igot420 Dispensary Buildout to be Erected in Cathedral City California
Greengro Technologies, Inc. Locks Down Next igot420 Dispensary Buildout to be Erected in Cathedral City California.
About this update from Greengro Technologies, Inc.
[{"type":"text","content":"\nANAHEIM, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Greengro Technologies, Inc. (OTC:GRNH), a world-class provider of eco-friendly green technologies, is pleased to announce that the Company has established $4.4 Million in funding to facilitate the build out of a second Marijuana Dispensary in North Hollywood. Set approximately 2 hours from Greengro’s flagship location in North Hollywood, Cathedral City’s operation will be strategically designed to reflect the brand and operational structure of its North Hollywood counterpart, in anticipation of continued regional expansion.\nThe necessary Conditional Use Permit has been granted, and the Company plans to begin construction in mid-June with expected completion by early fourth quarter, 2017. “The ability to move forward on this undertaking is filled with excitement and anticipation. We can’t wait to break ground” stated James Haas, Chief Executive Officer, Greengro Technologies. The Company plans to have the build-out completed by Sept 2017, in time for an anticipated October 1st Grand Opening. Greengro Technologies, Inc. recently announced that the Company has established the funding required to initiate the building of a new IGOT420 Marijuana Dispensary and Gro in North Hollywood. All licensing and permitting has been secured, and terms on regulation compliant property have been solidified (https://igot420.com/). The dispensary will be the flagship location for the launch of Greengro’s GenoBreeding operation, an advanced Greengro initiative to bring to market an evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.According to SIVALLC.com, statistics reveal that marijuana is on the rise. By 2020, it is estimated that the U.S. market for legal cannabis will hit $11 Billion. Since the end of 2014, dispensary jobs have grown 90%.According to a report from New Frontier Data, it's forecasted that tax revenues in states with legalized marijuana will reach $1.8 billion, of which $1.4 billion will be from cannabis specific taxes. North American legal marijuana sales totaled $6.7 billion in 2016, and in another report by cannabis market research firm New Frontier Data projects the industry will top 255,000 jobs by 2019 and reach $24.5 billion in sales by 2025. Greengr...