$CGRW: Can't Touch This; How Some Companies Are Making Money On Cannabis Without Touching A Plant
CORAL GABLES, FL / ACCESSWIRE / November 11, 2014 / There's no secret to the marijuana industry…it's here and it's happening. The legalization of medical and recreational cannabis spans nationwide in 25 states including the US Capitol. Many companies have focused their efforts on direct contact through the cultivation of cannabis from seed to plant, in anticipation for legalization. But in states like Florida which came up short in this year's midterm, companies who once banked on an end to prohibition in their respective state need to wait longer and barriers to entry remain. For others who have focused on more ancillary means of capitalizing on this latest industry boom, the overall growth potential is less inhibited and invites a more viable opportunity for investment in the space.
Take CannaGrow Holdings (CGRW) for example. The Company flat out states 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". But what it actually does could be an asset to many businesses looking to break into the dispensing and growing space within the Colorado market. The Company consults and acts as a liaison of sorts to provide licensed growers with ready to go grow facilities in Colorado. Now that more states have come online for legalization, management at CannaGrow states that the Company is in an ideal position to see substantial gains. For the stock, that has certainly held true in November. Since the beginning of the month CGRW has jumped as much as 174% after seeing highs of $0.26 in Monday's session.
Despite a late afternoon pull-back, investors should be pleased to find that this morning CannaGrow announced that it has reduced the common shares issued by 20% after it canceled 25 million shares of common stock. This move is part of an ongoing effort by the Company to increase and maintain shareholder value. Delmar Janovec, CannaGrow Holdings, CEO stated, "The cancellation of a significant amount of the issued and outstanding, along with the reduction of the authorized shares, will certainly enhance CannaGrow Holdings good standing as we stake our claim in the Medical-Recreational Marijuana industry in Colorado."
http://finance.yahoo.com/news/cant-touch-companies-making-money-143000792.html
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$CGRW: CannaGrow Holdings, Inc. Announces the Cancellation of 25,000,000 Shares of Common Stock
Common Shares Issued and Outstanding Reduced By 20%
CENTENNIAL, CO / ACCESSWIRE / November 11, 2014 / CannaGrow Holdings, Inc., (OTC Pink: CGRW) (CGRW), The Company has rescinded a Licensing Agreement and reduced the issued and outstanding stock by approximately Twenty, (20%), percent.
Delmar Janovec, CannaGrow Holdings, CEO, comments, "On November 5th, 2014, the Company filed an amendment to its articles of incorporation with the State of Delaware to reduce its authorized common stock to Five Hundred Million, (500,000,000), shares. During that same timeframe, the Company has been working diligently to rescind a previous Licensing Agreement with Mark One Foods/Mark Kirkland for the rights to utilize its vending technology and products for several Midwestern states. The completion of that action resulted in CannaGrow Holdings cancelling the Twenty Five Million, (25,000,000), shares of restricted common stock and returning the stock to the Company treasury.
This move is part of an ongoing effort by the Company to increase and maintain shareholder value. The cancellation of a significant amount of the issued and outstanding, along with the reduction of the authorized shares, will certainly enhance CannaGrow Holdings good standing as we stake our claim in the Medical-Recreational Marijuana industry in Colorado."
About CannaGrow Holdings, Inc.:
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 Holdings, Inc. is currently working with a website designer to update its website to reflect the new business model that will be forthcoming in the very near future.
CannaGrow Holdings, Inc. does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violate the laws of the United States of America.
CannaGrow Holdings, Inc. encourages the public to read the above information in conjunction with its year-end statement for December 31, 2013, and the quarterly statements filed in calendar year 2014, at www.PinkSheets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.
CONTACT:
Delmar Janovec
Investor Relations
CannaGrow Holdings, Inc.
info@cannagrowholdings.com
http://cannagrowholdings.com/
SOURCE: CannaGrow Holdings, Inc.
http://finance.yahoo.com/news/cannagrow-holdings-inc-announces-cancellation-113000030.html
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