Cannagrow Holdings, Inc. (OTCMKTS:CGRW) is a stock that we like to check in with from time to time here on Street Register, so we’re fulfilling our mission of passing along every significant development that occurs in stocks that we’ve written about.
CGRW stock could be in line to begin to rebound off of its bottom, especially in light of the positive lab analysis announced by the company this week, which we’ll provide the detail of further down the page. It saw a significant run in late February, and has since been searching for a solid level of support.
Cannagrow Holdings, Inc. (OTCMKTS:CGRW) isn’t one of those stocks that has to worry about the potential for tightening federal restrictions on the marijuana industry. The company has made it very clear in several published materials that it “does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violates the laws of the United States of America.” Still, there are plenty of non-psychoactive applications for cannabis that are perfectly in keeping with the laws at every level of government.
About CannaGrow Holdings
CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.
CannaGrow’s Client Licensed Grower Reports Positive Lab Results
This week CGRW announced that its client, Category One Botanicals, LLC, the Licensed Grower, has received the lab analysis on the first Winter Test Run in the Ranger Series 2000 Climate Controlled Greenhouse.
Dr. John P. Janovec, COO stated, “Our first Winter Test Run in the IGC Ranger Series 2000 Greenhouses has been a complete success and clearly demonstrates that our Ranger Greenhouses can be utilized for year-round production. All four (4) of the production strains tested between 18% and 22% for THC with all four (4) passing the ‘Microbial’ test, but the mold, yeast, and other microorganisms tested for were absent from the samples.”
Rod Clawson, Managing Member of Category One Botanicals, added, “The Ranger Series 2000 Climate Controlled Seasonal Greenhouses are no longer ‘Seasonal’ and have proven themselves to support a year-round growing environment. With three (3) of the 2,880 sq. ft. Rangers already on line and three (3) more currently under construction, future Winter Seasons will prove to be just as productive as
standard Spring and Summer Growing Seasons. The selection of these particular structures by the CannaGrow Planning Team once again proves their expertise in all areas of the Cannabis Industry.”
CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, will continue in its capacity of providing oversight as the Facilities Manager, working with the State/County Agencies and Category One Botanicals, LLC, the Licensed Grower for the facilities. The completion of this project will now provide the company the basis to begin generating revenues from Licensed Growers subleasing the Turnkey facilities being built to the specifications of CannaGrow COO, Dr. John P. Janovec, and Consultant, Jason Wells. (Source: Marketwired)
It’s no secret that CGRW has been backsliding on the chart, and there are no guarantees that it will find support at the present position before falling even further. But what that does, is provide new investors to enter at a much lower cost basis in preparation for the next leg-up for this cannabis play. We urge you to regularly visit StreetRegister.com to stay up to date on CGRW, and be sure you’re signed up for our 100% free smallcap newsletter. Simply enter your primary active email address in the box below! We never spam you, and we never share your info with anyone, ever! Subscribe now!