GrowLife Completes First GIFT Transaction with LEAF Aspen
March 4th, 2014
News, Top Story
GrowLife, Inc. (OTC: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, entered into a joint venture with CANX USA LLC to receive $40 million to spend on acquisitions and its GrowLife Infrastructure Funding and Technology (“GIFT”) program implemented last year.
The GIFT program has been designed to allow GrowLife to create highly desirable margins while continuing to grow its market share and retail store footprint across the country. Additionally, as the GIFT program allows customers to conserve capital, it will also foster brand loyalty by allowing select GrowLife GIFT partners to receive Company warrants at a modest discount to market price. In turn, these GIFT customers will provide a portion of gross revenue from their GIFT enhanced operations for the period of their participation in the program.
Read about the company’s first GIFT transaction with LEAF Aspen here:
GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, is pleased to announce the completion of its first GIFT transaction with CMMS, Inc., known better in the Colorado mountain ski communities as LEAF Aspen and Fat City Test Kitchen.
The GrowLife Infrastructure Funding and Technology program (GIFT) allows fully-licensed and compliant growers and dispensaries in well-regulated cannabis markets to spread the cost of infrastructure builds over time. The GIFT program is intended to facilitate near term infrastructure needs paired with long term exclusive supply relationships for the expendables required by fully licensed growers and dispensaries.
“LEAF Aspen is a preeminent name in medicinal cannabis in Aspen, Colorado, a top company that we’re pleased to support through the GIFT program,” saidSterling Scott, CEO, GrowLife Inc. “By providing LEAF Aspen with the tools they need to expand, GrowLife has found a terrific long-term partner. This is the exact type of partner we had in mind when developing the program, and is the first of many we hope to support in the industry.”
From time to time, GrowLife may collaborate with commercial real estate oriented companies and partnerships, including REIT’s, in connection with GIFT transactions. We are pleased to acknowledge Articulated Investors, a New Yorkbased firm, in the transaction involving LEAF Aspen.
“Articulated Investors is delighted to have been able to purchase real estate on behalf of the talented team at LEAF Aspen,” says Jake Schrader, Co-President of Articulated Investors. “We have enormous confidence in their ability to manage the complexities of a state of the art cultivation facility. Our real estate investment decision was made substantially easier by the knowledge that GrowLife was also planning on working with them through a GIFT program deal.”
For more information on GIFT visit: http://yhoo.it/1fzRcaV
For more information on LEAF Aspen visit: http://leafcolorado.com/
For more information and updates visit the following online locations:
From time to time, GrowLife will provide market updates and news via its websites GrowLifeInc.com, Cannabis.org or the Company’s Facebook page athttps://www.facebook.com/tellthetruthfederalgovernment
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) develops, markets and deploys products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The Company provides these solutions in our nationwide retail network, as well as online sites Greners.com, Phototron.com and StealthGrow.com. The Company also operates the political and social forum, Cannabis.org
Cautionary Language Concerning Forward-Looking Statements
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for GrowLife’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in GrowLife’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting GrowLife, Inc. please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. GrowLife, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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