NEW YORK (MainStreet) — The GrowLife Infrastructure Funding and Technology (GIFT) program completed its first transaction with L.E.A.F. Aspen, providing equipment to the Colorado medicinal pot dispensary in exchange for monthly payments.
"The program that we offer is for selective clients in certain states to accelerate growth in the legal cannabis industry," said Sterling Scott, CEO of GrowLife in Woodland Hills, Calif.. "Our objective with the program is to increase scale, market penetration, revenue and earnings for GrowLife."
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Through GIFT, growers can acquire and pay for equipment over time.
"We expect these transactions to be in the range of $500,000 to $5 million but that will vary depending on the company and on the yearly terms of the arrangement, which can be from one to 5 years," Scott said.
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