CannaGrow Holdings Announces Building Permit Approved and Construction Has Begun on Expansion of Colorado Buffalo Ranch Facility

July 31, 2018

PUEBLO, CO, July 31, 2018 (GLOBE NEWSWIRE) -- CannaGrow Holdings, Inc. (OTC PINK: CGRW) A Liaison and Consultant providing turnkey solutions to licensed growers -- CannaGrow Holdings, Inc. announces the Huerfano County Building Department has approved and issued the Building Permit for the construction of a 1,600 sq. ft. building to be used exclusively for the Drying, Curing, and Packaging of the increasing volume of Cannabis being harvested at the Colorado Buffalo Ranch Facility.

Delmar Janovec, CEO, stated, “Our licensed grower, Category One Botanicals, is projecting a fall harvest from the six Climate Controlled Ranger Greenhouses in excess of nine hundred pounds. This new building is solely dedicated to Drying, Curing, and Packaging of the harvested product and will be needed to handle the expected increase in volume. The site preparation has already been completed and weather permitting, the sub-contractor for the foundation and slab work is scheduled to move in later this week.

Janovec went on to say, “The property owner, NuGro Industries Inc., has already purchased a 1,600 sq. ft. steel building from Olympia Steel Building and we are looking at an anticipated ship and arrival date sometime in August. We have already received/approved bids from the Plumbing, Electrical, and HVAC sub-contractors. Construction schedules are currently being worked out and we fully expect to complete this phase of the expansion in advance of the Fall Harvest in late October.”

CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity of providing oversight as the Facilities Manager, working with the State/County Agencies and Category One Botanicals, LLC, the Licensed Grower for the facilities. The completion of this project will now provide the company the basis to begin generating revenues from Licensed Growers subleasing the Turnkey facilities being built to the specifications of CannaGrow COO, Dr. John P. Janovec, and Consultant, Jason Wells.

About CannaGrow Holdings, Inc.:

CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.

CannaGrow Holdings, Inc. does not and will not, until Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violate the laws of the United States of America.

CannaGrow Holdings, Inc. encourages the public to read the above information in conjunction with its year-end statement for December 31, 2017, and the quarterly statements filed in calendar year 2018, at: www.otcmarkets.com.

The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words “may,” “could,” “possibly,” “feel,” “estimate,” “anticipate,” “believe,” “expect,” or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company’s uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company’s actual results could differ materially from those discussed herein.

CONTACT: CannaGrow Holdings, Inc. Delmar Janovec Investor Relations info@cannagrowholdings.com http://www.cannagrowholdings.com/  

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