Growlife Inc. Extends Closing Date for Strategic Partnership with RXNB Inc.

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Growlife Inc. Extends Closing Date for Strategic Partnership with RXNB Inc.

Growlife Inc.'s (OTCBB: PHOT) share volume soared Mar. 24, with 52,706,213 shares changing hands, significantly higher than its three-month average of 48,459,212 shares.

The Woodland Hills, Calif. holding company that supplies equipment for legal marijuana growers share volume surged in part on the news that its joint venture with CANX USA, LLC, extended the date for completion of due diligence and closing the transaction with RXNB Inc. ("RXNB") to Apr. 4, 2014.

No specific reason was given as to why the extension was necessary, or what part of the due diligence hadn't been completed.

Due Diligence Time Extended

Under the agreement, GrowLife will sell and distribute RXNB proprietary technologies globally, and share profits related to technology licensing, subject to the approval of the GrowLife Board of Directors. GrowLife currently has a 45% ownership interest in OGI, with conditions under which it can gain majority interest.

RXNB is an investment company with holdings in drug formulation, manufacturing, and distribution. The company represents a recent roll-up of several independent companies in the pharmaceutical and nutraceutical market. RXNB has numerous pending patents in the field of THC research and development.

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Joint Venture with Vape

This latest announcement comes only a week after Growlife entered into a joint venture  with Vape Holdings, Inc. (OTCQB:VAPE) to fund the research and development of patentable technology to create pharmaceutical grade extractions from cannabis.

Under terms of that agreement, each company will bring its specific expertise to the joint venture.

Growlife will provide equipment manufacturing while Vape Holdings provides guidance for the process technology and concentrate formulas. Cannabis extractions are a rapidly growing market segment of the legal cannabis market, and believed by many, including the partners, to be a significant part of the future of cannabis as consumers transition from the carcinogens often included with historical methods of drug delivery, to the more modern, safer, and efficient systems reliant on cannabis extracts.

To that end, the partners in the joint venture are intent on introducing medical, food and pharma grade practices into the cannabis industry; from cultivation to extraction to delivery, according to the press release.

On Mar. 24, PHOT shares closed at 50 cents down 8 cents from its closing price of 58 cents the previous day.

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Advanced Cannabis Solutions Share Value Gives Back Recent Gains

In other news, on Mar. 24, Advanced Cannabis Solutions' (OTCQB: CANN) stock volume was robust with 347,929 shares changing hands, substantially higher than its three-month average volume of 222,472 shares.

However, the Colorado Springs, Colo-based company that leases growing space and related facilities to licensed marijuana business gave back some of the ground its share value gained recently, closing at $24.50, down $4.55, or 15.66%  from its closing price of $29.05 the previous day.

While there is no news coming from the company good or bad, some industry experts believe the recent downtick in its share price is the result of investors taking a deep breath and getting their bearings on the new medical-marijuana industry.

In fact, a Mar. 17, report from BrokerBank Securities contends Advanced Cannabis was "at the perfect moment to capture the legal and regulatory zeitgeist." The analyst's report concluded that "CANN has ridden the marijuana stock boom to a valuation of over $500 million before showing any revenue or holding any assets."

Good News Reaches Critical Mass

Up until now, Advanced Cannabis Solutions stock had been on an upward trend, being fueled by a spate of positive news coming from the company along with its solid business plan backed by real estate investments.

On Feb. 20, Advanced Cannabis Solutions said it signed an agreement to provide comprehensive consulting services to a significant investor group in Canada. This group is involved in the start-up and operation of a large cannabis production operation serving the Canadian medical marijuana marketplace. The contract has a minimum duration of six months and a potential value in the low six figures.

In addition, the company that is headquartered in the middle of one of the first, vibrant legal-marijuana marketplaces in the country has recently been approved for a major line of credit.

These two elements are essential for Advanced Cannabis Solutions to be able to build and equip the facilities it wants to rent to cannabis growers.

In Colorado alone, the medical marijuana market is estimated to be $350 million in size while the legalization of recreational marijuana could expand that figure to over $500 million in 2014 by some accounts. These figures are significantly larger throughout the United States. Some analysts estimate the total market at between $10 billion and $120 billion per year in size, depending on the success of various legalization efforts and the components included in the estimates.

Gets 30-Million Credit Line

On Jan. 21, Advanced Cannabis Solutions announced that it had established a $30-million credit line.

According to a release, Advanced Cannabis Solutions signed a definitive agreement with Full Circle Capital Corp., a closed-end investment company. The agreement provides that the investment fund will initially provide $7.5 million to the company in the form of Senior Secured Convertible Notes, subject to certain conditions. An additional $22.5 million can be borrowed by Company with the mutual agreement of the company and the investment company.

At least 95% of the loan proceeds will be used to acquire properties, which the company consistent with its business plan, will lease to licensed cannabis growers.

"The six-year loan will be secured by real estate acquired with the loan proceeds, and will require interest-only payments at a rate of 12% per year," the release explained, outlining the agreement.

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Tranzbyte Corp.  Partnership with Abattis Continues to Fuel Volume

Meanwhile, Tranzbyte Corp. (OTCPINK: ERBB) stock volume continued to soared Mar. 24, with 296,023,149 shares changing hands, higher than its three-month average volume of 208,511,527 shares.

The surge in volume is still being fueled in part by the Tempe, Ariz.-based medical marijuana dispensary company's Mar. 21 announcement  that it signed a Letter of Intent to form a strategic partnership with Abattis (OTC Pink: ATTBF) .

Under terms of the agreement, the companies will sell and market or otherwise license one another's products in their respective regions. Once the arrangement is completed, Tranzbyte will have access to Abattis' expanding suite of bio-ceutical grow products found in the Biocube Green Grow Systems for cultivation (LED's, Nutrients - Natures Juice).

In addition, Abattis owns proprietary flash freeze extraction technology, which produces high-grade cannabis and other botanical extracts. Conversely, Abattis will have the Canadian rights to distribute ZaZZ(TM) and will pair Tranzbyte's Jurassic O2 water systems with its Biocube Green Grow Systems sales efforts in the US.

"When one looks at the obvious NAFTA synergy, this relationship makes all the sense in the world. Abattis is a powerhouse in Canada; we are stronger in the United States," Tranzbyte COO Stephen Shearin, said in a written statement.

Technology That Speeds Up Growth of Marijuana

This latest good news comes only a few weeks after Tranzbyte reported that it was testing a new gas/watering system that dramatically increases the parts per million of oxygen in water and has several benefits including speeding up the growth of marijuana and increasing its yield.

The company executed a Letter of Intent on Feb. 12, 2014, to license this patent-pending technology for distribution throughout the marijuana growing industry in the United States. Tranzbyte is in the process of negotiating a formal licensing agreement with the owners of the technology pending the results of the tests which began in Phoenix and California last weekend.

Speeds Growth and Repels Pests

According to Tranzbyte, the new technology re-creates atmospheric conditions similar to those of prehistoric times.

"Think: the Jurassic era. Think of accomplishing the mythological 'fifth grow'. This serves to increase product availability and adds profit straight to the bottom line for the grower," says Stephen Shearin, Tranzbyte's chief operating officer. "An apparent side benefit is that several common pests associated with grow operations don't seem to favor the higher O2 environment. It was an unintended consequence of the process, but it could be as big a feature as achieving radically increased growth," he added.

On Mar. 21, ERBB share price closed at 10 cents, up 2 cents from the share price of 8 cents at the close of the previous day.

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