Since our last review of Greengro Technologies, the company completed several noteworthy acquisitions and transactions that should create momentum for the company entering into the second quarter of 2017. For those that are not familiar with the company, Greengro Technologies (OTC PINK:OTC:GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, and small and large-scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.On Feb. 14, 2017 Greengro Technologies announced that it has acquired the intellectual property (IP) rights for Controlled Environment Genomics (CEG) technologies from Gala Global, Inc. (OTCQB:GLAG). Additionally, Greengro CEO James Haas announced that industry veteran and Greengro COO Timothy J. Madden had been named as Gala Global’s new CEO.The CEG IP is Gala Global’s based genomics technologies developed as part of a program to incorporate genetics – heredity and the variation of inherited characteristic in plants – to help cannabis industry growers create better, more powerful and sometimes personalized commercial cannabis strains.
“Using applied genomics to grow ideal cannabis strains in controlled greenhouse environments is a breakthrough application in the fairly new field of controlled environment genomics,” said Madden. “We are probably the first in the cannabis industry to utilize market leading CEG techniques, elite cannabis genetics and innovative breeding solutions in our grow operation offerings. Our customers will have the benefit of using superior breeding technologies far ahead of their competitors.”
On Feb. 22, 2017 Greengro Technologies announced the launch of the Company’s strategy to deliver its Franchise into the newly legalized European/German market. An act to legalize the use of marijuana for medicinal purposes was passed by German parliamentarians by a unanimous vote for the bill that was first approved by the country's cabinet in May 2016, and will come into effect March 2017.
” James Haas, CEO of Greengro Technologies, Inc. stated, “This is the moment of opportunity for entrance into the European market. We are determined to develop a strong presence by bringing our first-rate technologies and instruction to our counterparts abroad through comprehensive and thorough training.”
On March 02, 2017 Greengro Technologies announced that the company signed a 40-year lease to develop a 4.5-acre property as part of a Cannabis Ventures Inc. (a subsidiary of Gala Global Inc. (OTC:GLAG)), cultivation franchise in Adelanto, Calif., a San Bernardino County community with commercial regulations for large-scale cannabis growing and harvesting. Gala Global Inc.’s subsidiary, Cannabis Ventures, is a developer of leading scientific processes for cultivating bio-medical grade cannabis plants featuring a higher concentration of cannabidiol (CBD), a cannabis compound known for its significant medical benefits.The transaction that will have the most immediate impact on Greengro Technologies’ bottom line is the announcement that it received a $600,000 down payment on a $7.4 million flagship three-acre turnkey off-grid PV-solar glass greenhouse from Fresh Local Produce of Ohio, an indoor hydroponic farming company based in Akron, Ohio. The companies expect to be breaking ground on the new facility in the third quarter of 2017. The state-of-the-art facility to be constructed is part of the Greengro Glass House Franchise, which includes Greengro designing and building the greenhouse, installing hydroponic grow systems and equipment, training operational staff and assisting with growing, harvesting and selling crops.
“This initial transaction with Fresh Local Produce of Ohio is an exciting development for Greengro Technologies,” said Greengro CEO James Haas. “We are very pleased to be working with Greengro’s finance sources, which have been key in bringing this rewarding partnership to life.”
GRNH stock has been trading in a range between $.05 and $.11 going back to late November of 2016. It is currently trading at $.0748. Fourth quarter financials for 2016 are yet to be reported. The company does have a steady history of revenues, which should continue, and we expect improvement for 2017 given the recently increased customer base and the large down payment received for the Fresh Local Produce of Ohio transaction. Current market capitalization for the company is holding at $23.00 million, on 304.34 million shares outstanding as of April 08, 2017. Overall, the company is well positioned for growth in 2017. We will be updating our subscribers as soon as we know more. For the latest updates on GRNH, sign up below!Disclosure: We have no position in GRNH and have not been compensated for this article.
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