Growgeneration Corp (GRWG)

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DENVER, CO / ACCESSWIRE / April 5, 2017 / GrowGeneration Corp. $GRWG ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado, one location in California and one in Nevada, announced today, that as a follow up to its recently announced financing from Merida Capital Partners, a cannabis infrastructure fund, it has entered into a strategic partnership with Merida to pursue opportunities across the infrastructure and ancillary cannabis industry.

As part of the agreement:
GrowGeneration will compensate Merida to provide advisory oversight and capital structuring for GrowGen's rapidly expanding footprint in both the cannabis equipment and cultivation technology verticals.
Merida will also be assisting in the launch of "GrowGeneration Home," an initiative to target the home grower with an array of indoor growing products for growing plants for clean food, clean air and clean medicine, serving the organic food grower and home cannabis grower verticals simultaneously.

Further, the companies announced that Merida will also receive a Board seat, which will allow Merida a greater role in capital structuring and strategic oversight as they work closer with GrowGen to manage their pipeline of growth opportunities.

Darren Lampert, Co-Founder and CEO, said, "Merida's connectivity to the cannabis space is vast, with relationships with the large cultivation facilities, strategic and complementary companies and investments in other strategic companies like New Frontier Data. Our company could not be more proud and excited to bring one of Merida's principals on as a board member. Merida's professionals have been successfully deploying capital in cannabis for nearly six years and their contribution to GrowGeneration, and our new GrowGeneration Home division will be invaluable as we continue to execute our expansion and growth plan."

Merida's Managing Partner, Mitch Baruchowitz, added, "We are excited to continue our work with GrowGeneration and collaborate with their team to use Merida's resources to create additional value for the rapidly expanding GrowGen portfolio. We have had a front seat to the incredible growth of GrowGen over the last three years, and are excited to assist their pursuit of strategic opportunities. Our addition to their Board will bring a wealth of governance and strategic oversight to an already well-functioning executive team. With their forward looking revenue guidance of $15MM, we look forward to supporting GrowGeneration's existing operations and movement into new verticals."

https://www.dailymarijuanaobserver.com/single-post/2017/04/05/-GRWG-GrowGeneration-and-Merida-Capital-Partners-Expand-Strategic-Partnership