DENVER, CO / ACCESSWIRE / January 31, 2017 / Grow Solutions Holdings, Inc. (OTCQB: GRSO) (the "Company" or "Grow Solutions") a company involved in the development and distribution of high demand products for cultivation, processing and consumption of legal cannabis, announced today it has acquired West Coast Organic and Hydroponic Supply (WCO) in Boring, Oregon.
West Coast Organic & Hydroponic has achieved over $2 Million in revenues for 2016 and is profitable. Consistent with our Grow Solutions model we project to more than double these revenues to well over $4 Million in 2017.
Jeff Beverly, the Company's President said, "This is the first of many acquisitions planned for 2017. West Coast Organic and Hydroponic is located in an important strategic location for our company. Oregon is a thriving market for the legal cannabis industry and WCO is located in the heart of the growing community with over 50 licensed cannabis growers within a ten mile radius of the store. Oregon has over a 1,000 licensed recreational cannabis producers and over 100,000 medical cannabis growers in the state.
In 2016 the recreational licensed growers exceeded $160 million for the first 9 months of the year. We aim to do very well with this new acquisition as we will be able to offer our customers, the organic farmers and licensed cannabis growers, over 5,000 specialized products all geared to their business needs. In keeping with our aggressive expansion plans, we are completing our due diligence on additional acquisition targets nationwide and will announce those as developments occur."
Grow Solutions concentrates on three of the fastest-growing segments of the industry:
(1) GrowTech (products needed to grow cannabis in and outside);
(2) ConsumerTech (products to process, store and consume cannabis);
(3) DigiTech (online properties, including a state of the art employment platform).
About Grow Solutions Holdings, Inc.
Grow Solutions Holdings, Inc. is a holding company that is publicly traded on the OTCQB market, under the symbol "GRSO". The Company is focused on the development/distribution of high-demand products and services for cultivation, processing and consumption of cannabis.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on managements current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
Grow Solutions Holdings, Inc.
Jeff Beverly, President
SOURCE: Grow Solutions Holdings, Inc.