GreenGro Technologies also provided an update on a number of previously announced projects, including:
Global Renewable Resources ‘Smart Vertical Farm’
The combination of GreenGro Technologies and Biodynamics’ proprietary vertical farm technologies have enabled them to secure a commitment letter from Mastronardi Produce for the marketing of its USDA #1 products from the proposed Global Renewable Resources facility. Global Renewable Resources expects to begin construction of the new ‘Smart Vertical Farm’ upon completion of financing. The first phase of the GRR project is expected to consist of a 10-acre tomato facility, with the ability to expand up to 30 acres thanks to the technologies and renewable energies the GreenGro and Biodynamics partnership will bring to the table.
CannaCulture Project
Biodynamics has received its first purchase contract from CannaCulture, and expects payment by the end of the second quarter.
Development of the 4.5-Acre Site for a Canna-Business Park in Adelanto, CA
Greengro Technologies recently announced the submitting of documents to the City of Adelanto for approval of its plan to design and develop one of Southern California’s largest canna-business parks, with GreenGro’s state-of-the-art indoor vertical farm at the epicenter of the complex.
“GreenGro Technologies continues its ascent in the legal cannabis market with the closing of its acquisition of a majority equity position in Biodynamics,” said James Haas, Chairman and Chief Executive Office of GreenGro Technologies. “We are committed to increasing corporate revenues while also expanding via strategic investment opportunities that deliver multiple revenue streams on behalf of our shareholders. In fact, we have promising new bids out for our canna-business park as we speak. I am confident we will be able to report outstanding growth for 2018 as we continue to increase our market share in an ever-growing marketplace while at the same time solidifying our position as one of the top innovators in our space.”
Mr. Haas went on to say that with all of the projects the company is involved with currently along with potential new projects coming on board, he anticipates additional shareholder updates in the very near future.
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