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CENTENNIAL, CO--(Marketwired - Aug 21, 2015) - CannaGrow Holdings, Inc. (OTC PINK: CGRW) -- a Liaison and Consultant providing Turn-Key solutions to licensed Growers announces an update on the Colorado project.

Mr. Janovec, CannaGrow Holdings, CEO, comments, "There has been significant progress made on the NuGro Industries Colorado Buffalo Ranch Filing No. 5-Lot 61 project since the approval and issuance of the Conditional Use Permit (CUP) by the Huerfano County Board of County Commissioners on May 12, 2015. The CUP carried certain conditions which were required to be completed prior to the issuance of the building permits and the construction phase of the project.

The three most important and critical conditions of the CUP were the Bennett Roadway improvements, the drilling of a well on Lot 61, and the State approval of the Huerfano County Water Conservancy District's Supplemental Substitute Water Supply Plan (SSWSP) - Augmentation Plan.

1. The Bennett Roadway improvements were by far the largest condition in terms of time required for the completion and out-of-pocket expenses. The improvements required grading of approximately 2.4 miles of gravel roadway, placement of approximately 2,000 tons of base rock, and the placement of approximately 700 tons of Pitt-run rock for the three low water crossings. The Bennett Roadway improvements were completed in mid-July by a State licensed Grading Contractor and approved in late July by an agent of Huerfano County.

2. The water well was drilled to a depth of approximately 300 ft. and completed by a State licensed Drilling Contractor during the last week of July, 2015. The contractor has filed his logging information with the State for registration of completion and recording of the water well placement.

3. The State Dept. of Water Resources approved the Huerfano County Water Conservancy District (HCWCD) Supplemental Substitute Water Supply Plan (SSWSP) Augmentation Plan the week of August 10, 2015. This Plan will allow for the augmentation of the well that was drilled on NuGro Colorado Buffalo Ranch Filing No. 5-Lot 61. We are in the process of changing the classification of the well from a monitoring well to a commercial well which is a requirement under the State statues and anticipate that reclassification will be completed within seven (7) working days."