TORONTO, ON / ACCESSWIRE / January 29, 2020 / Toronto based CO2 GRO Inc. ("GROW") (TSX-V:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce that it has appointed Michael O'Connor ("Mike") as its Manager, Investor Relations ("IR"). Over the past 20 years, Mike has helped public companies in the junior resource exploration, power generation infrastructure and emerging technologies with extensive IR services. During his career as an IR professional Michael has worked with senior management to set the strategic communications direction of companies and has been responsible for establishing and executing IR programs. At an operational level he has managed all aspects of IR programs including expanding investor awareness, attracting institutional and retail investors and supporting financings. In 2020, he will focus on developing and expanding the network of GROW's investors, analysts and financial intermediaries interested in GROW.
The agreement is for an initial term of 12 months beginning on January 29, 2020 and provides for a range of advisory and investor relations services for a monthly fee of $5,000. Pursuant to the agreement and subject to all regulatory and board approvals, GROW agrees to grant 300,000 stock options at a price of $0.18. The Stock Options will have an expiry date of two (2) years after the date on which they are granted by the Board (January 28, 2020) and will vest as follows; 75,000 on the date of the agreement, 75,000 each three months, six months and nine months from the date of Board approval.
John Archibald GROW's CEO commented, "Since the restart of our patent license to enhance plant growth with aqueous CO2 Delivery Solutions™ we have strategically grown with our consultants. Mike joined the Company part time as a consultant in May of 2018 focusing on advising on our evolving marketing and communications efforts. With the anticipated expansion of our business development in 2020, we expect to engage in more direct, proactive investor related communications activity".
In addition the Company announces that the Board of Directors has approved the grant of 945,000 stock options (the "Options") to participants of the Company's stock option plan (the "Plan"). The Options are exercisable into common shares of the Company at an exercise price of $0.18 per share over the next two years, with vesting periods ranging up to one year, all in accordance with the Plan.
As of the date hereof, a total of 4,355,598 common shares of the Company are reserved for issuance under the Company's stock option plan and after this new grant, 5,300,598 options will be outstanding.
About CO2 GRO Inc.
GROW's mission is to accelerate the growth of all value plants safely, effectively and profitably using our patent protected advanced CO2 Delivery Solutions™. It is a commercially proven technology that is easily adopted into all covered cultivation including greenhouses, shade, hoop and tunnel houses, indoor and outdoor grow operations.
GROW's target markets are the 50 billion square feet of global greenhouse space (USDA) and the 4.62 billion acres of global cropland (USGS). While indoor gassing of CO2 to enhance crop yields has been practiced for decades, 85% of the world's greenhouses cannot use CO2 gassing economically due mostly to heat ventilation which causes the CO2 gas to escape. Outdoor growers cannot gas CO2 into the atmosphere to the ideal levels required of up to 1500 ppm.
GROW's CO2 Delivery Solutions™ naturally and safely dissolves CO2 gas into water creating an aqueous CO2 solution which is then misted directly on plant leaves. GROW has demonstrated improving crop yields by up to 30% with up to 30% faster growth. The CO2 solution's micro droplets create an aqueous film around the entire leaf surface, isolating the leaf from the atmosphere. This creates a diffusion gradient favoring CO2 transport into the leaf and other gases out of the leaf. Increased carbon availability enhances photosynthesis resulting in faster and larger plant growth. CO2 Delivery Solutions™ has been demonstrated on crops including Cannabis, lettuce, kale, microgreens, peppers, flowers and medical tobacco. Growers everywhere can now supplement CO2 to their crops using CO2 Delivery Solutions™, increasing plant yields and profits.
Forward-Looking Statements This news release may contain forward-looking statements that are based on CO2 GRO's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please visit www.co2gro.ca or contact Sam Kanes, VP Communications at 416-315-7477 or Michael O'Connor at 604-317-6197.
SOURCE: CO2 GRO Inc.