|By Marketwired .||
|March 20, 2014 02:00 AM EDT||
ANAHEIM, CA -- (Marketwired) -- 03/20/14 -- GreenGro Technologies (PINKSHEETS: GRNH) announced today that it has closed a non-brokered private placement, raising gross proceeds of $875,000. The funding was completed with accredited investors with the issuance of restricted 144 shares.
Use of the proceeds from this capital infusion will further support the myriad activities the company currently has in the pipeline including our Vertical Hydrogarden store featuring our Flux lighting Brand of lighting products @ www.verticalhydrogarden.com, the continual development and implementation of BP Gardens, its flagship commercial greenhouse project. Additionally, the recently announced Greensticks, Inc, the patent-pending vape technologies acquired by the company in Q1 of 2014, will be buttressed with sales and marketing support for a national product launch beginning April 1, 2014.
"We have carefully put the resources in place to carry out our plans and this investment will only accelerate our go to market strategies as we continue to move forward," states James Haas, CEO, Greengro Technologies.
About Greengro Technologies
Greengro Technologies (PINKSHEETS: GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.
Disclaimer: 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 a number of 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.
Greengro Technologies, Inc.
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