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Monday, January 18, 2021

CANNAGROW HLDGS IN COM USD0.001 (OTCMKTS:CGRW) Expands its Footprint

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CANNAGROW HLDGS IN COM USD0.001 (OTCMKTS:CGRW) is a stock that’s been mired in a funk out its explosive rally in October – one that saw more than 400% piled on for shareholders in just about two weeks at the height of the fever into the November legalization voting. The company just announced approval of the building permit required for the construction of three additional Ranger Series 2000 Greenhouses from the International Greenhouse Company at Colorado Buffalo Ranch Facility I in Huerfano County, Colorado.

Recent action has seen about a 40% decline in the past three weeks, but this action is a pullback in what might become a bullish technical scenario if CGRW stock finds support well above its Summer lows. Market participants may want to pay attention to this stock. CGRW stock has evidenced sudden upward volatility on many prior occasions. What’s more, the company has registered increased average transaction volume recently, with the past month seeing 12% above the average volume levels in play in this stock over the longer term. This is particularly important with the stock trading on a float that is limited at just 24.6M shares. Traders should not overlook this combination, as ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.

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.”

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As noted above, the company just announced approval of the building permit required for the construction of three additional greenhouses at its primary Colorado facility. The construction of these additional greenhouses will complete Phase I & II of the facility and provide an additional 8,640 sq. ft. of production capacity, bringing the total square footage of the Grow Facility to 23,580 sq. ft.

Delmar Janovec, CEO, states, “On Wednesday, December 30, 2016, the Huerfano County Land Use Office & Building Authority approved and issued a permit to NuGro Industries for the construction of three (3) additional climate-controlled Ranger Series 2000 Greenhouses. Adding 8,640 square feet of production capabilities to the Buffalo Ranch Facility #1, we will now complete Phases I & II of the Master Plan for the first five-acre footprint. We are pleased to add that Latcon Corp., http://www.latconcorp.com/, has been retained as the General Contractor to provide oversight on the project, and Butte Valley Construction LLC will be performing the grading and site preparation. Both firms are regional leaders in their respective fields and they were instrumental in the completion of the existing facilities.”

Dr. John P. Janovec, COO, added, “With almost 100% of my working day behind Category One Botanicals’ first harvest cycle and curing process, it is reassuring to know we are in the capable hands of regional contractors for the construction of an additional three Rangers. Looking to 2017 with the knowledge that the Buffalo Ranch Facility #1 will provide over 20,000 square feet of “sunshine-driven” cultivation space, I literally feel like the sky is the limit — as a start-up in this industry we are barely off the ground after four months into the production schedule. I encourage shareholders and interested parties to stay in check with the CannaGrow Blog for coming updates regarding company benchmarks.”

At this time, carrying a capital value in the market of $125.6M, CGRW has very little cash on the books, along with total assets just under $310K, which stands against an appreciable load ($2.47M) of total accumulated debt. CGRW is making real money, with trailing 12-month revenues coming in at 1.66M. We will update the story again soon as developments transpire. 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!

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