GREENGRO TECHNOLOGIES, INC. ON-TRACK TO COMPLETE 2020
AS
A
SPRINGBOARD
YEAR
FOR
A
BLOCKBUSTER 2021 DRIVEN PRIMARILY
BY
NEW OPPORTUNITIES ABROAD, NEW MANAGEMENT AND
FAVORABLE
POLITICAL CLIMATE
Company to Accelerate the Emergence of its Seed Genetics Program
with the
Appointments of Industry Veterans in Agronomy, Genetics and
Horticulture
ANAHEIM, CA
-- December 8, 2020 -- InvestorsHub NewsWire
-- GreenGro
Technologies, Inc.
(OTC
PINK: GRNH), an established provider of eco-friendly green
technologies for the cannabis industry, today announced that it is
on-track to complete its current fourth quarter on a strong note
and, most importantly, has planted strategic investments
domestically and
abroad in anticipation of
a blockbuster Fiscal Year 2021, driven primarily by the expected
favorable reforms and legislation at the federal level for the
rapidly growing cannabis and CBD industries.
"The
Company's business plan for Fiscal Year 2021 is expected
to
capitalize on the cannabis industry's favorable legislative
environment which
should drive a number of new and existing initiatives designed to
ramp-up revenue growth and enhance shareholder
value. As
forward-looking industry leaders, we have decided this development
is a clear signal for us to expand our footprint beyond our
domestic borders as new federal legislation here in the U.S. will
no doubt have an outsized favorable impact on the global cannabis
& industrial hemp markets" said James Haas,
Chairman and COO
of
GreenGro
Technologies,
Inc. "As an indication of the expected
increasing demand
for the Company's product lines, we expect to shortly appoint three
key additions to our Seed Genetics Program, an agronomist,
geneticist and a horticulturist. We look forward to updating
our shareholders on our progress in this
respect in the
very
near
future," concluded
Mr. Haas.
International Expansion
The
company just completed a successful
trip
to Ecuador at the invitation of Government and Business leaders
there. The trip was originally slated for March of this year but
was delayed due to complications
from
COVID affecting international
travel
as
well as personally affecting the Company's COO Mr. James Haas.
Nevertheless, the trip was nothing short of a success. The Company
is now in negotiations to close a deal solidifying an international
presence with a South American branch office headquartered in
Machala, de el Oro, Ecuador. This summer, Medical Cannabis and
Industrial Hemp were each legalized at the Federal level in Ecuador
as Cannabis was
removed from the Country's list of Controlled Substances.
Industrial Hemp is now regulated in Ecuador by its Ministry of
Agriculture and Livestock. This development was the principal
reason for GreenGro
graciously
accepting Ecuador's invitation to participate in those reforms and
helping to develop Ecuador's International Cannabis Markets for the
future.
Management
These
developments international further signal that it is time for the
Company to accelerate the deployment of its Seed Genetics Program.
All successful Cannabis and Industrial Hemp operations start with
good genetics. And this is precisely what Ecuador is looking
to GreenGro
for
guidance and assistance in. Consequently, as part of the
Company's GenoBreeding
division, three
new members will be added to the management team in the immediately
foreseeable future: an
agronomist, a
geneticist and a
horticulturist. The Company has
been interviewing viable candidates over the past few months and is
almost ready to announce its choices.
Domestic
Cannabis Policy Reforms Expected in 2021
With
the Democrats in control of the House of Representatives and the
vacancy of Jeff Sessions, a number of groundbreaking marijuana
reform policies are expected to pass in 2021. According to
Politico, in 2019, 296 members of Congress (68%) represent the 33
states with at least medical marijuana, which means there are
sufficient votes to pass long-awaited bills. There are
already several bills in the new Congress pertaining to
marijuana. And just this past
Friday, the House of Representatives passed the Marijuana
Opportunity Reinvestment and Expungement Act of 2019 (MORE Act), a
landmark legislative bill to end the Federal Prohibition on
Cannabis. Although it is unlikely this bill will be approved by the
Republican controlled Senate, it was a clear message to the
incoming Biden Administration that meaningful reform is long
overdue and that a
change
for Cannabis will be a top priority for the next four
years.
For
his part, President-Elect,
Joe Biden, has already
expressed that he
wants marijuana decriminalized as well as having the criminal
records of those convicted of possession of the drug expunged. His
Vice President-Elect, Kamala Harris, meanwhile was one of the
co-sponsors of a bill called the Marijuana Justice Act introduced
by Senator Cory Booker, which decriminalizes marijuana. Harris has
expressed support of expunging convictions for those caught with
marijuana and calls out for a path toward decriminalization and
legalization.
"This
political climate could finally signal the end of cannabis
prohibition as we have known it. It may very well introduce a new
wave of Cannabis Entrepreneurialism that leads to an explosive
growth that our industry hasn't seen before. And we are excited to
be at the forefront of this green revolution in the U.S. and
beyond!" says Darrel Courtney, CEO of GreenGro
Technolgoies.
GreenGro
Technologies, Inc.
(OTC:GRNH)
is a vertically-integrated provider of eco-friendly
state-of-the-art technological
solutions to the cannabis industry. The Company is a trusted
partner to the cultivation, extraction,
production and retail aspects of the cannabis market through a
combination of three operating
divisions:
CBD Ventures, Cannabis
Ventures,
and
GenoBreeding. Each division is
able to leverage the
strengths of the other, creating a synergistic, efficient and
highly profitable busines model.
For
additional information about GreenGro
Technologies and
its solutions, please visit
https://www.facebook.com/GreengroTechnologiesInc
www.greengrotech.com.
Safe Harbor Act: The Company relies
upon the Safe Harbor Laws of 1933, 1934 and 1995 for all
public news releases.
Statements, which are not historical facts, are forward-looking
statements. The company, through
its management, makes forward-looking public statements concerning
its expected future operations,
performance and other developments. Such forward-looking statements
are necessarily
estimates reflecting the company's
best judgment based upon current information and
involve
several risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of
such forward-looking statements. It is impossible to identify all
such factors. Factors which could cause
actual results to differ materially from those estimated by the
company include, but are not limited
to, government regulation; managing and maintaining growth; the
effect of adverse publicity;
litigation; competition; and other factors which may be identified
from time to time in the company's
public announcements.
or
Contact: Info@greengrotech.com
Darrel
Courtney, CEO (714)367-6538
