GrowLife and FusionPharm Announce Collaboration Agreement for
Equipment Supply and Co-Marketing
WOODLAND HILLS, Calif.,
Aug. 5, 2013 /PRNewswire/ -- GrowLife
Inc. (OTCQB: PHOT), a provider of highly effective indoor growing
technologies and unique lifestyle brands, today announced that it
has entered into a collaboration agreement with FusionPharm, Inc.
(OTC: FSPM). Under the collaboration agreement, GrowLife
companies will provide the necessary grow equipment and consulting
services to FusionPharm and GrowLife will co-market PharmPods,
FusionPharm's commercial-scale fully equipped grow technology.
"FusionPharm is currently the market leader in modularized
commercial-scale fully equipped grow technology (based on standard
ISO shipping containers) with competitive products on the market,"
stated Sterling Scott, CEO, GrowLife
Inc. "We are very pleased to immediately involve GrowLife companies
with the team at FusionPharm and to offer supply of our full range
of specialized grow equipment for the production line of
PharmPod™ units. We will support co-marketing and
co-sales of PharmPods™ through our GrowLife Consulting
team and our network of stores across the USA, in cooperation with FusionPharm and their
licensing partner, Meadpoint Venture Partners, Inc."
Last week, licensee Meadpoint announced that it had reached the
$200,000 mark for sales during the
past 30 days, and that it was on track to reach its sales target of
delivering at least a hundred PharmPods™ to customers
in 2013.
"We are very pleased to have GrowLife's support and to work
closely with their team across the country and particularly in the
New England states where we are building a lot of traction right
alongside GrowLife's expansion of stores," stated FusionPharm CEO
Scott Dittman. "FusionPharm is
excited about the opportunities for our PharmPod brand of
cultivation containers on the East Coast in collaboration with
GrowLife, which has become one of the premier brands in the
hydroponic market."
PharmPod™ units are currently manufactured by
FusionPharm in Colorado and under
license on the East and West Coasts. GrowLife will
temporarily discontinue collaborative efforts for a previously
announced development of MediGrow modular system grow chambers with
GrowOpp, LLC in order to focus additional effort on
PharmPod™ equipment and sales.
For a GrowLife Investor Presentation visit:
http://growlifeinc.com/wp-content/uploads/2013/05/PHOT-DECK-4_30_13.pdf
To view a Grassroots Research report on PHOT please visit the
link below:
http://grmarketresearch.com/phot/report.pdf
About GrowLife Inc.
GrowLife Inc. (PHOT) (www.growlifeinc.com) is a company with
core holdings in innovative technology-based products and services
for the indoor gardening industry and specialty markets. These
brands include Greners.com, the online hydroponics superstore
(www.greners.com), Phototron, producer of hydroponic grow
containers, which are designed to grow vegetables, herbs, flowers
and fruits in any environment (www.phototron.com) as well as bricks
and mortar retailers Urban Garden,
Rocky Mountain Hydroponics and Evergreen Garden Center
(www.rmgardener.com).
About FusionPharm, Inc.
FusionPharm, Inc. was organized to capitalize on opportunities
present in the rapidly growing organic/local food and cannabis
industries. FusionPharm's primary focus is the development and
deployment of the patent pending PharmPods(TM) advanced hydroponic
cultivation systems. PharmPods are constructed from standard ISO
steel shipping containers that are repurposed for use in indoor
controlled environment agriculture.
Cautionary Language Concerning Forward-Looking
Statements
Information set forth in this press release contains financial
estimates and other forward-looking statements (within the meaning
of the Private Securities Litigation Reform Act of 1995) that are
subject to risks and uncertainties, and actual results might differ
materially. Examples of such forward-looking statements include
management's projected 2013 revenue guidance, references to
potential acquisitions, and other references to potential growth in
the business. A discussion of factors that may affect future
results is contained in GrowLife's filings with the Securities and
Exchange Commission. In addition, all industry products are
subject to additional uncertainty, including the risks of delay,
cancellation and poor critical or financial reception. GrowLife
disclaims any obligation to update and revise statements contained
in this news release based on new information or otherwise.
SOURCE GrowLife Inc.