Business
CannaGrow Holdings Signs Sublease With State-Licensed Grower in Colorado
CannaGrow Holdings Signs Sublease With State-Licensed Grower in Colorado.
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[{"type":"text","content":"\n \n \n CannaGrow Holdings Signs Sublease With State-Licensed Grower in Colorado\n \n \nCannaGrow Holdings Signs Sublease With State-Licensed Grower in Colorado\n \n CENTENNIAL, CO--(Marketwired - Apr 27, 2016) - CannaGrow Holdings, Inc. (OTC PINK: CGRW), a Liaison and Consultant providing turnkey solutions to licensed growers in the legal Cannabis industry, today announced an update on the Colorado Buffalo Ranch Project located in Huerfano County, Colorado.\n CannaGrow Holdings has negotiated and signed a long-term sublease agreement with state- licensed grower Category One Botanicals, LLC, for the five-phase Cannabis cultivation facility on property located at the Colorado Buffalo Ranch Filing No. 5-Lot 61. The five-phase build out encompasses the entire facility now being constructed on five (5) of the twenty (20) acres currently controlled by Cannagrow Holdings under a five-year master lease agreement with three (3) multi-year options for renewal. \n Delmar Janovec, CEO, stated, \"With a target of early June for the completion of the 3200-sq. ft. Head House, the 3300-sq. ft. Nexus Greenhouse, and three (3) of the six (6) planned 2880-sq. ft. Hoop Houses, we are prepared to accommodate our new tenant.\" Janovec went on to say, \"With the entire 5-acre facility now under a sublease contract, the company can now focus on one or more of the recent inquiries about the development of an additional facility on an adjacent footprint.\"\n CannaGrow Holdings COO, Dr. John P. Janovec, Ph.D., added, \"With initial construction headed toward completion in the coming weeks and the facility now under a sublease, I will be able to direct my attention to working with the Licensed Grower to implement operations. These are exciting times for the company, as my long-term associate Jason Wells and I will now be able to carry through with what we have been working on for almost two years now toward the planning, planting, and management of one of the most large-scale, state-of-the-art Cannabis cultivation facilities in the State of Colorado.\"\n CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in that capacity, working with the various Contractors and State/County Agencies to see the multi-phased project through to an operational status. The completion of this project will provide the company the basis...