CANNAGROW HLDGS IN COM USD0.001 (OTCMKTS:CGRW) Making Strides Toward Expansion

CANNAGROW HLDGS IN COM USD0.001 (OTCMKTS:CGRW) Making Strides Toward Expansion

SHARE

CANNAGROW HLDGS IN COM USD0.001 (OTCMKTS:CGRW) is a micro-cap in the cannabis space that has started to heat back up a bit, grabbing the attention of traders during the stock’s recent bounce. The catalyst driving the action over recent days appears to be the company’s progress on their planned expansion of production capacity, with the initiation of construction of three additional Ranger Series 2000 Greenhouses from the International Greenhouse Company (IGC) for Category One Botanicals, LLC, the licensed grower, at their Colorado Buffalo Ranch Facility.

Delmar Janovec, CEO, stated in a release this week, “I am pleased to announce that this week our colleagues at Butte Valley Construction moved their heavy equipment onto the grounds of Colorado Buffalo Ranch Facility I to commence the grading and compacting of the foundations for three (3) new Ranger Series 2000 Greenhouses. With the completion of foundations in the coming weeks, weather permitting, we will begin work with the General Contractor, Latcon Corp., to install the steel side posts followed by the erection of the Greenhouse structures. The additional 8,640 square feet of greenhouse space will be operational ahead of the 2017 seasonal production schedule currently in progress under the leadership of the CannaGrow Staffing Program and Licensed Grower, Category One Botanicals, LLC.

CANNAGROW HLDGS IN COM USD0.001 (OTCMKTS:CGRW) trumpets itself as a company that provides solutions to the cannabis industry in the State of Colorado.

The company has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.

The company was formerly known as BizAuctions, Inc. and changed its name to CannaGrow Holdings, Inc. in November 2014. CannaGrow Holdings, Inc. is based in Las Vegas, Nevada.

According to company materials, “CannaGrow Holdings, Inc. does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violate the laws of the United States of America. CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.”

Find out when $CGRW stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

According to the company’s latest update, “CannaGrow Holdings has made significant strides over the last 12 months at Colorado Buffalo Ranch Facility I with the drilling and certification of a commercial water well, the grading of barren land, and the construction of an existing 15,000-square foot Cannabis Cultivation Facility. The current facility under operational management by the Company includes a 3,300 square foot Nexus Light Deprivation Greenhouse for perpetual production and 8,640-square feet of Ranger Series 2000 Climate Controlled Greenhouses. The additional three (3) Ranger Greenhouses now under construction will provide an additional 8,640 square feet of production capacity bringing the total area of production capabilities to 20,580 sq. ft. A state-of-the-art water supply and conditioning system has been installed, supporting automated drip irrigation in all grow areas and floor heating in the Nexus Greenhouse. The 3,200-square foot Steel “Head House” Building serves as the heart of the operation, with a warehouse, drying and curing rooms, and the Mother Plant Room that supports the massive clone and seed-based propagation required to maintain the steady flow of transplants needed to fill production areas on a rotating basis.”

We’ve witnessed 28% added to share values of the name over the past month of action. Market participants may want to pay attention to this stock. CGRW has a track record that includes a number of dramatic bounces. In addition, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed 61% over what the stock has registered over the longer term.

Traders should note this as important with the stock trading on a float that is very limited at just 25.7M shares. It’s something the veterans know to key on: a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders. That seems a likely explanation for some of the stock’s recent strength given that the press release didn’t relay much that we would count as “new” news relative to what we discussed in our last piece. And yet, the stock has powered over 46% higher in that time.

Earning a current market cap value of $183.7M, CGRW has virtually no cash on the books, which stands against about $2.6M in total current liabilities. CGRW is pulling in negligable trailing 12-month revenues ($41K). As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $CGRW stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Sign Up for our 100% FREE Oracle Dispatch Newsletter

LEAVE A REPLY