In the last trading session, the stock price of Greengro Technologies Inc (OTCMKTS:GRNH) gained more than 3% to close the day at $0.0530. The gains came at a share volume of 3.10 million compared to average share volume of 2.51 million.
Earlier in the month of June, Greengro reported that it has obtained a funding commitment of $4 million to build another igot420 dispensary in Cathedral City. So far, the company has received $2 million of total financing with the remaining to be drawn down pending progress of the project’s construction plan. igot420 is a key tenant of company. The announcement of Cathedral City dispensary comes after the start of the firm’s construction of its North Hollywood leading location, presently around 35% completed.
Greengro’s GenoBreeding will advance igot420’s genetic line using the firm’s advanced technology to advance and market an advancement of refined cannabis varieties via the incorporation of latest plant breeding technologies. James Haas, the CEO, reported that they are currently advancing a catalog of selectively farmed, genetically labeled, leading cannabis strains via the firm’s GenoBreeding program.
The objective is to bring to market an additional grow operation and dispensary, and to license and establish brands like igot420 to emerge as the ‘Starbucks’ of the buzzing marijuana industry. Greengro reported that the new facility will copy the structure of the North Hollywood site as part of the firm’s efficient, planned regional expansion.
The required Conditional Use Permit has been allowed pending routine update. Construction is anticipated to begin next month and projects this turn-key operation to be all set for Grand Opening by the close of October 2017.
Greengro CEO reported that this vital assignment will prove out their business model for reproducing their scientifically designed facilities and developing them quickly, regionally. With the project capital for new facility already secured, and the team of igot420 set to go, they are assured to record exciting progress in the Q3 2017, which will mark another breakout year for the company.
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