Indoor Harvest Corp (INQD)

[NewJerichoMan]

Focus Shifts to Becoming State-of-the-Art Cannabis Producer and Technology Provider

Finalizing Plans for Facilities in Arizona and Colorado

http://www.globenewswire.com/news-release/2017/08/10/1083302/0/en/Indoor-Harvest-Commences-New-Strategic-Direction-with-Board-Appointments.html

HOUSTON, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Indoor Harvest Corp. (OTCQB:INQD), a developer of personalized cannabis medicines and a provider of advanced cultivation methods and processes, announced today changes to the Company’s Board of Directors.

On August 4th, 2017, the Company entered into an Agreement and Plan of Merger with Alamo CBD, with a targeted close date of August 15, 2017. This plan completes a six-month process of work transitioning the Company into a producer of cannabis for research and pharmaceutical development. Currently the Company is a pending applicant through its acquisition of Alamo CBD, to produce cannabis, under the Texas Compassionate Use program and is preparing an application to produce cannabis under the Controlled Substance Act.

The Company is also finalizing plans with investors and developers to construct facilities in Arizona and Colorado. The Company intends to generate revenue from its developed facilities through leasing and licensing of its technology and methods. The Company expects to be able to make additional announcements over the next few weeks regarding its new direction.

At closing with Alamo CBD, the Company will have 24,657,360 shares of common stock issued and outstanding, with a public float of 9,065,068 free trading common shares.

“It has been an honor to lead the Company’s change management efforts. I will now be stepping aside and assuming the role as Chief of Cultivation of Alamo CBD, allowing me to focus my energy on driving cannabis cultivation science to the next level; something I’m very passionate about. I believe the team that has been assembled will prove truly disruptive to the industry. We’ve got a great team of people who are now focused on a single effort and goal, to become the leading producer of research and pharmaceutical grade cannabis,” said Chad Sykes, the Company’s founder.

As part of the transition, Mr. John Zimmerman, PE, will remain on as Vice President and Director of the Company. A committee made up of Chad Sykes, our founder, Dr. Coleman, CEO of Alamo CBD and Mr. Seckman, will be tasked with nominating a new CEO for the Company. The Company is pleased to introduce the following new Directors and Officers of Indoor Harvest Corp.: