WOODLAND HILLS, Calif., Feb. 19, 2013 /PRNewswire via COMTEX/ -- GrowLife, Inc. (otcqb:PHOT), a provider of highly effective indoor growing technologies, is pleased to announce that it has entered into a strategic licensing letter of intent with GrowLife Consulting Colorado, LLC ("GLCC"). Under the agreement, GLCC is authorized to use the name "GrowLife" in Colorado, as well as certain intellectual property and technology rights in exchange for licensing fees. GrowLife's agreement with GLCC provides GrowLife with an option to acquire ownership in GLCC. The LOI between GrowLife and GLCC is scheduled to close on March 8, 2013
GrowLife expects that the GLCC business model will allow it to participate much more broadly in what the San Diego-based MMJ Biz Daily has described as a $40+ billion dollar U.S. opportunity. Bruce Perlowin, industry advocate and CEO of HEMP, Inc. (HEMP), another publicly traded industrial hemp-focused company, described the company's move as "brilliant positioning." Perlowin explained, "As soon as the federal government completes the inevitable process of formally recognizing medical uses of marijuana, GrowLife will already be well positioned to capitalize on the enormous opportunity."
SOURCE GrowLife, Inc.
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