CannaGrow Holdings Inc (OTCMKTS:CGRW) Is Today's Pot Stock Focus

CannaGrow Holdings Inc (OTCMKTS:CGRW) broke out to the upside after consolidating for several months. Investors got excited after getting some updates on the company's Colorado Buffalo Ranch. While shares have pulled back from the highs, CGRW has benefited as investors are in search of the next hot pot stock.CannaGrow 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.On March 15, the company announced that NuGro Industries Inc, the landowner and developer for the Colorado Buffalo Ranch Project located in Huerfano County, Colorado, executed a Purchase Order for the first three (3) of six (6) Hoop-Style Greenhouses planned for the Phase I& II build out. The building permit was issued on March 10 and foundations for all three (3) greenhouses have already been prepared.CGRW says that the Colorado Buffalo Ranch Project represents a significant evolution in the industry through the strategic implementation of assets such as using seasonal greenhouses in the overall grow strategy. Each building is 2,880 sq. ft. in size and will function primarily as seasonal production facilities. By making these greenhouses an integral part of production, the company plans on benefiting from the increasing commercial appeal of "sun-grown" Cannabis as well as mitigating higher production costs and the larger carbon footprint associated with indoor commercial grows that rely solely on artificial lighting.On March 23, an order was placed for 70 grow lights through Growers House, followed by the purchase of 80 cubic yards of organic seasoned compost from Innovative Organics. A number of additional purchase orders are being negotiated for immediate execution, including hundreds of grow containers, drip irrigation system components, environmental control systems, and all natural amendments for a soil-based growing medium. COO Dr John Janovec said:

"A number of significant benchmarks have been achieved by the company during the last several weeks. First, our primary buildings have been erected and we are now engaged full time with our General Contractor and Subcontractors to complete the final installations required for Cannabis production. Second, we are in the final stages of discussions with our preferred licensed grower who should be on site and operational by early June. The grow lighting purchased from Growers House will enable the licensed grower to manage mother plants, seedlings, and clones in vegetative states, as well as provide supplemental lighting required for producing Cannabis plants in the Nexus Greenhouse during the short days of winter."

Overall, construction should be complete in 8 to 10 weeks time. The completion of this Project will provide CannaGrow the basis to begin generating revenues. Furthmore, CannaGrow has been receiving numerous inquiries from perspective tenants and are also exploring additional business ventures within this industry that could further enhance shareholder value.What's unique is that the Colorado Buffalo Ranch Facilities are strategically focused on a perpetual year-round work flow involving the propagation, vegetative growth, and flowering of Cannabis plants in different indoor and greenhouse environments. The 3200-ft2 Nexus Light Deprivation Greenhouse will provide an ideal flowering chamber for several hundred mature Cannabis plants of various strains and sizes at any given time. However, each year the Nexus Greenhouse also will be used to produce the seedlings and clones needed to fill the Hoop Houses in time for long summer growth and flowering toward harvest in the fall or early winter.Currently trading with a market cap of $69 million, CGRW has quickly become a hot story among pot stocks with the Buffalo Ranch project getting off the ground. The greenhouses should be up and running by May 10, just in time for the Licensed Grower to commence the propagation of the first Cannabis plants to be grown and harvested at the Colorado Buffalo Ranch Facilities. We will be updating Insider Financial as soon as we know more. For continuing coverage on CGRW, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in CGRW and have not been compensated for this article.