NEW YORK, NY / ACCESSWIRE / June 21, 2016 / Grow Solutions Inc. (OTC: GRSO), a provider of comprehensive support services in the broad area of high-yield indoor agriculture, specializing though not limited to the regulated growing and processing of cannabis, today announced that Jeff Beverly, President and Director, has released an updated letter to shareholders.
Key milestones discussed in the letter to shareholders include the progression of the business since the 2nd quarter of 2015, which include the following highlights:
- April 2015 - The Company became a publicly-traded entity via reverse merger and was pre-revenue under the ticker symbol OTC: GRSO
- May 2015 - Acquired Boulder-based One Love Garden Supply, a full service garden and grow store, which the Company has expanded to over 7,000 square feet of space
- June 2015 - Entered into an agreement for the creation of Jobgrow.com, an interactive web platform for recruiters, employers, and employees in the regulated cannabis space
- September 2015 - Acquired HyGrow to expand Grow Solutions' gardening supplies and agricultural products business; this acquisition allowed the Company to expand into Denver and Pueblo, Colorado
- March 2016 - Developed and launched Pompano, FL based FutureTech Products, which develops products for the consumer market to be sold in smoke shops, head shops and dispensaries
- April 2016 - Acquisition of Mile High Hydro, a full service online grow store which offers a full line of gardening supply and agricultural products to growers throughout the country; sales reached approximately $120,000 per month upon launch
- May 2016 - Management exceeded expectations with an annualized revenue run rate of approximately $6.5 million
- June 2016 - Grow Solutions announces a letter to shareholders with an updated annual run rate of approximately $8 million
Jeffrey Beverly, President and Director of Grow Solutions stated, "We are pleased to be able to update our shareholders on the overall progress of the Company. We envision a very bright future for the Company and we look forward to increasing our offerings across the board."
The full letter to shareholders is available on the Company's website: www.growsolutionsinc.com
About Grow Solutions Inc.:
Grow Solutions Holdings, Inc. (GRSO) is a publicly traded company providing comprehensive support services in the broad area of high-yield indoor agriculture, specializing though not limited to the regulated growing and processing of cannabis. The company's diversified platform of operations and services for this industry comprises the following three divisions: Growth Technologies, Consumer Technologies and Digital Properties. The vertical integration of GRSO's divisions, the horizontal integration of customers through the Company's divisions, and its sustainable acquisition strategy of profitable companies, earmarks the lucrative growth of GRSO in this ever burgeoning industry.
Forward-Looking Statements:
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.
CONTACTS:
Corporate:
Grow Solutions
Rachel Wexler
Director of Administration
D: 917-780-2381
PCG Advisory Group
Investors:
Adam Holdsworth
Managing Director
D: 646-862-4607
Media:
Sean Leous
Managing Director
D: 646-863-8998
SOURCE: Grow Solutions Inc.