CannaGrow Holdings Inc (CGRW)

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The Company has executed a Facilities & Land lease with NuGro Industries for land and a Grow Facilities in Huerfano County, Co.

Delmar Janovec, BizAuctions' CEO, comments, "The Company executed a multi-year agreement for a Facilities / Land Lease Agreement with NuGro Industries, Inc., on October 8, 2014. The Lease is for a primary period of five (5) years with options for multiple year extensions. The Lease consists of twenty (20) acres of land with an option for additional acreage as needed, a State of the Art 7,500 sq. ft. Greenhouse and Operations/Head-House facility, and six (6) 1,800 sq. ft. outdoor Hoop Houses to accommodate 10,800 sq. ft. of summer grows. The Lease calls for NuGro Industries to provide all of the development costs for the site plans, site work, utilities, and structures."

Mr. Janovec goes on to say, "We are extremely excited to have signed this Lease Agreement with NuGro Industries. The Agreement that is in place will allow the Company to become fully involved in the Recreational/Medical Cannabis Industry that is getting underway in Colorado. Permits, contracts, and additional agreements are already in process and we fully expect to be operational in the spring of 2015."


http://finance.yahoo.com/news/bizauctions-cannagrow-executes-20-acre-104500228.html

CGRW