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Greengro Technologies, Inc. (GRNH) to Break Ground on Second igot420 Facility


Greengro Technologies, Inc. (GRNH) to Break Ground on Second igot420 Facility

By: MarijuanaStocks.com

Greengro Technologies to Break Ground on Second igot420 Facility; Company Secures $4 Million Financing for New, Cathedral City, CA Project

Greengro Technologies, Inc.(OTC Pink:GRNH), a world-class provider of eco-friendly green horticulture technologies, today announced it has secured a $4 million funding commitment to build a second igot420 dispensary in Cathedral City, California. $2 million of that financing has already been received with the remaining $2 million to be drawn down pending advancement of the project’s construction schedule.

igot420 is a major tenant of Greengro properties. The Cathedral City dispensary follows the commencement of the Company’s construction of its North Hollywood flagship location, currently about 35% completed.

Greengro’s GenoBreeding will develop igot420’s genetic line utilizing the Company’s advanced technology to develop and market an evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.

“We are currently developing a catalog of selectively bred, genetically labeled, signature cannabis strains through the Company’s GenoBreeding program,” said James Haas, Chief Executive Officer of Greengro Technologies. “Our vision is not to just bring to market another cultivation operation and dispensary, but to license and build brands such as igot420 to become the ‘Starbucks’ of the emerging marijuana industry.”

Strategically located two hours east of North Hollywood in Riverside County, the new Cathedral City facility will replicate the structure of the North Hollywood location as part of the Company’s efficient, planned regional expansion. The necessary Conditional Use Permit has been granted pending routine update. With the Company’s agreement to lease its Cathedral City facility to igot420, it plans to start construction next month and expects this turn-key operation will be set for Grand Opening by November 1, 2017.

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