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Wednesday, January 20, 2021

Greengro Technologies Inc (OTCMKTS:GRNH) Runs with the Herd

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Greengro Technologies Inc (OTCMKTS:GRNH) has been powering in an uptrend boosted by recent reports that the company has signed an agreement with an Ohio-based company (FoodRaiser, Corp.) for the sale of a $7.5 million BP Gardens Glass Greenhouse Franchise. This is a story peripherally connected to the cannabis craze wrecking charts left and right over the last few weeks as we approach a likely massive expansion in the cannabis cultivation and sales segment. But this additional catalyst is frankly gravy on top of that story for GRNH.

We’ve witnessed 170% piled on for shareholders of the listing during the trailing month. The situation will likely continue to bear close tracking. Shares of GRNH stock have a long and storied history of some remarkable runs. Furthermore, the name has benefitted from a jump in recent trading volume to the tune of more than 190% above its longer-run average levels.

Greengro Technologies Inc (OTCMKTS:GRNH) promulgates itself as a company that designs, manufactures, and markets green eco-friendly vertical cultivation systems in the United States. It offers flux lighting products, table stands, nutrient mixers, home units, cloning systems, and tea brewers, as well as provides consulting and management services to its clients.

The company also markets lights, fans, hoods, automatic watering systems, and nutrients under the GreenGro brand.

GreenGro Technologies, Inc. offers its products to consumers and industrial cultivators through its Website. It has a strategic alliance with Solaris Power Cells. The company, formerly known as Authoriszor, Inc., was founded in the 1996 and is based in Westminster, California.

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As noted above, the company just announced the sale of a $7.5 million BP Gardens Glass Greenhouse Franchise to FoodRaiser Corporation, Dublin, Ohio, a noted trailblazer in health conscious fundraising. FoodRaiser provides schools, clubs, teams, bands, nonprofits, churches and numerous other organizations with organic product-based fundraising opportunities.

Greengro Technologies and FoodRaiser have entered into an agreement for FoodRaiser to purchase a Glass Greenhouse Franchise marketed by Greengro Technologies’ subsidiary BP Gardens, Inc., a controlled environment agriculture company that specializes in the use of leading-edge technologies and production methods. The Glass Greenhouse Franchise offering includes a turnkey, two-acre greenhouse facility designed to produce up to nine million heads of lettuce per year.

Through the BP Gardens franchise agreement, FoodRaiser has committed to raising the capital to fund the $7.5 million purchase over the next six months. The companies expect to be breaking ground on the Ohio-based facility between the second and third quarters of 2017.

“This is the first of our independent U.S. franchise locations that we’re establishing nationwide and we plan to invest in ensuring the facility’s prosperity,” said Greengro Technologies’ CEO James Haas. “We are very confident that the resources going into this relationship will result in great success for all involved in this business relationship.”

In addition, the stock has also been reacting to a joint venture agreement with Cannabrands AG, an Austrian-based private equity company specializing in cannabis industry investments.

The joint venture is based on the franchising of GreenGro subsidiary Vertical HydroGarden, a premier U.S. retailer of year-round hydroponic supplies. Vertical HydroGarden, Inc., which supports businesses in the field of controlled environment agriculture , is the industry-leader in modular automated hydroponic grow-rooms, portable grow-containers, greenhouses, hydroponic and aquaponics supplies and cultivation consulting services.

This is more intimately a part of the recent mania in play in the cannabis-related space, so it should be no surprise to see this fueling gains in GRNH shares. Now commanding a market cap of $45.1M, GRNH has an extremely small store of cash on the books, alongside total assets greater than $2.1M, which must be weighed relative to a manageable load ($171.54k) of total accumulated debt. Given the growth potential inherent in this space, the mild imbalance on the book is not a problem from our standpoint.

The technical pattern is probably more important given that we are in a herd-behavior type of move right now in everything even tangentially related to the marijuana space. We continue to favor this one, but there are others in the same segment that look even better. That said, we would hardly fade this trend. For continuing coverage on shares of $GRNH stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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