DENVER, CO -- November 8, 2016 -- InvestorsHub NewsWire -- Grow
Solutions Holdings, Inc. (OTCQB:
GRSO) (the Company or Grow Solutions) a company involved in the
development and distribution of high demand products for
cultivation, processing and consumption of legal cannabis,
announced today it has executed a letter of intent to acquire Keys
Organic and Hydroponic Supply (KOH) located in the Florida
Keys.
The acquisition is a strategic addition to the Grow Solutions
family of grow stores operating under its wholly-owned subsidiary,
One Love Garden Supply (One Love). Upon completion of this
potential acquisition, One Love will have a total of six stores;
five retail and one online.
"We believe Florida is a thriving market for the legal cannabis
industry. With the expected passage of legalization of cannabis in
Florida this election, KOH is positioned to capitalize in the
expanding growing community," stated Jeff Beverly, President of
Grow Solutions. "With this acquisition and our current operations
we are forecasting, on an unaudited basis, to exceed $12 million in
revenue for the coming year in our retail division. Our three
currently operating stores located in Colorado are grossing
approximately $7 million on an annualized basis with roughly an
additional $1.7 million for the online operation. In keeping with
our aggressive expansion plans, we are completing our due diligence
on additional acquisition targets nationwide and will announce
those as developments occur," continued Mr. Beverly.
About Grow Solutions
Holdings, Inc.
Grow Solutions Holdings, Inc. is a holding company that is
publicly traded on the OTCQB market, under the symbol "GRSO."
The Company is focused on the development/distribution of
high-demand products for cultivation, processing and consumption of
cannabis.
Safe Harbor for
Forward-looking Statements
This news release may contain forward-looking statements that
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the companys progress, business
opportunities and growth prospects, they are based on managements
current beliefs and assumptions as to future events. However, since
the companys operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
CONTACT:
|
Grow Solutions Holdings, Inc.
|
|
|
Jeff Beverly, President
|
|
|
(917) 780-2381
|
|