Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I know;.)
News out
GrowLife Plans to Enter CBD-Rich Hemp Cloning Market, to Start Selling Clones by Next Year
Company Reaches Financing Agreement for $2.5 million, Enabling the Company to Bring Proprietary Hemp Clones to Market Through EZ-CLONE
Summary:
GrowLife to leverage subsidiary EZ-CLONE expertise by adding CBD-rich hemp clones to product offering, eyeing large market opportunity driven by lack-of-supply of hemp clones
Company reaches definitive agreement for equity financing of $2.5 million
Financing to enable company to pay-down outstanding debt, further invest in manufacturing core business unit, and introduce new products including hemp clones
KIRKLAND, Wash. — GrowLife, Inc. (OTC: PHOT), one of the nation’s leading plant cultivation and cannabis/hemp cloning solution providers, announced today the company has entered into a definitive equity financing agreement of $2.5 million, enabling the company to add CBD-rich hemp clones sales to its current service offering by next year.
“With the federal legalization of hemp and nationwide demand for CBD increasing, the need for high yield, CBD-rich hemp has never been greater and we have an unprecedented opportunity to supply these farmers with the clones they need to start their plants through EZ-CLONE,” said Marco Hegyi, GrowLife CEO and President. “We are working with the best hemp geneticists and large-scale propagation partners to deliver the highest-quality CBD-rich hemp clones to farmers on a nationwide scale in 2020. In order to do this, we needed solid financing with minimal dilution. This new funding illustrates the confidence our investor has in our strategy by putting in $2.5 million at market price.”
Hegyi added “the demand for CBD-rich hemp has grown 368% in just one year and an estimated 200,000 acres will be planted this year, up from roughly 25,000 just two years ago. Through our propagation experience with EZ-CLONE, we are creating an understated value to hemp farmers nationwide who do not have the time or experience to grow clones internally. These clones have high margins and create a significant revenue generation oppotunity for us, on which we plan to capitalize as quickly as possible. We plan to make further announcements on progress of this new initiative in the coming weeks.”
Hemp-derived CBD products are one of the fastest growing consumer segments in the world, with researchers estimating the market for CBD in the U.S. alone could be worth almost $24 billion by 2023. The shift in consumer sentiment for these products has created a large demand for the raw materials needed in order to produce these products. Since the passage of the Farm Bill which legalized hemp production in the US, farmers have been scrambling to plant hemp in order to meet this new demand.
The funding will enable Growlife to make three important advancements in the organization. First, retire some of the diluting debt that is weighing down the balance sheet. With the improved terms, the company will allocate some of the funds towards paying off more expensive debt. Second is to expand the current base business which has proven rapid growth through the integration of EZ-CLONE and its high margin manufacturing business. This unit needs further investment into sales and marketing as it continues to capture market share. Finally, this funding will be used to execute on the market oppotunity of hemp cloning by enabling the company to introduce new high margin CBD-hemp clones to GrowLife’s extensive network of plant cultivators across the nation.
The financing is subject to final approval from the SEC.
For more information about GrowLife, visit the Company’s website. Products can be purchased at ShopGrowLife.com in the U.S. and GrowLifeHydro.ca in Canada.
###
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012
Public Relations Contact:
CMW Media
Cassandra Dowell, 858-264-6600
cassandra@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
investors@growlifeinc.com
206-483-0059
FORWARD LOOKING STATEMENT:
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of GrowLife, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words may, would, will, expect, estimate, can, believe, potential and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond GrowLife, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Thats not surprising.
6 months of press releases still missing from Yahoo PMCB stock page?? Just a little weird I think.
Has anyone noticed that 6 months of press realeases are missing fromYahoo????
0 volume??
Agree! It seems as though the almighty dollar is taking over humanity again. Don't get it:.{
IMO We are very close. When one is this close they have to keep their cards close to their chest. All the doctors that are on board with this can't all be gullible to take on projects that are worthless. Their reputations are at st5ake. I wouldnt throw my life away without some kind of investigating
Allowing companies to present offers and letting the group to move forward with offers sounds pretty interesting:.) Sounds like they know something that may be coming down the track. Could be the funding they need?
Thanks
Is it Thursday or Friday there?
All I have is guesses?
This came in email today:
Issue 11 • August 2019
Imagion Biosystems Receives FDA "Breakthrough Device" Designation
Imagion Biosystems has announced that it has received notification from the Center for Devices and Radiological Health (CDRH) of the Food and Drug Administration (FDA) that the MagSense System and Test for staging HER2 breast cancer has qualified for and been granted designation as a Breakthrough Device.
The purpose of the Breakthrough Device Program is to expedite and improve communications between a device manufacturer and the agency during device development. Bob Proulx, Executive Chairman, said, "Qualifying as a Breakthrough Device validates our MagSense technology as a transformative opportunity for healthcare, and could improve the standard of care for staging HER breast cancer."
Read about it here.
Toxicology Study Completed
On 23 May, 2019, Imagion Biosystems announced the successful completion of a toxicology safety study of lead MagSense™ nanoparticle formulation for the detection of HER2 metastatic breast cancer. The study was completed on time and no adverse effects were reported.
"It is good to have this hard evidence in hand," said Bob Proulx, Executive Chairman. "We will be breaking new ground in medical imaging bringing a targeted bio-safe nanoparticle to first-in-human studies."
Read the announcement here.
Thanks Rusty;,) This new article adds much more detail into the Nano process
I'm sure the 800 point drop today brought more value to gold. The longer we wait the more value for us and the more pressure for any gold buyers
MMMM
MMMmmm Yahoo news for PMCB is only showing news Feb 4 and previous. All recent news not showing?????
Volume has stopped?
Thanks
Did anyone notice where the main office is at from that site?
Primary Office
2/F Hang Wei Bldg., Road 2
North Hi-Tech Park
Shenzhen, Guangdong
China
Looks like strong hands are fixing to stop MM's manipulation ;.)
Yes and if you read the article it makes it very clear that it will start trading on the TSX exchange yesterday
So you are saying it is posted wrong by yahoo finance or the press release company? IMO you may be wrong.Tthey may be using the symbol for their new package and have bought the symbol for their needs. Just saying I suppose one could call them and find out
So you are saying this press release from yesterday means nothing? If you check the box you will see that PFMS is one of the funds in their package
https://finance.yahoo.com/news/picton-mahoney-asset-management-launches-131700810.html?.tsrc=applewf
They said they had a successful IPO. I can't seem to find info on that IPO was able to find the mutual fund discriptions but not the value per share. I am still searching
whats Aug 12th
Where did everybody go?
Either way: More shares are trading than issued and it is 50% shorted
I agree
Only 93.8 mil issued shares Pretty sure there is some manipulating going on. I still have mine
I believe it will happen also
One of the requirements to become Nasdaq is to be at $4/sh Sounds pretty good to me
Did anyone notice the close on Wed. was over $85000/shr? Just found it very odd that that big of a mistake was made on something that hasn't moved in ages. Also thought it was a little exciting to think it could be true;.)
I doubt that.
We will see. I am thinking we are getting very close to IND All signs look like they are real close. That is why there is a babysitter watching the process. We are to close to have any mistakes IMHO
I think you are probably right
Mmm Did trading stop? No trades for awhile?
Maybe that is all they could afford? Or all the cash left in their account to invest Not everyone is rich
IMO News is near. The last time this drop happened news came out.