SILVERDALE, WA / ACCESSWIRE / April 7, 2016 / CGrowth Capital, Inc. (OTC Pink: CGRA) (the “Company”) is pleased to announce that its wholly owned subsidiary, Chewelah Properties, LLC, has executed a 5-year lease to provide an approved F-1 manufacturing facility for legalized cannabis production and processing to two (2) additional I-502 Tier 3 cannabis producer/processors at its Washington state facility. The tenants, “Randolph and Mortimer” and “Wonder West Group,” join the previously announced Wildfire Cannabis Company at the site to bring the total lessees to three.
“The past few months our Company has been growing faster than the weed our tenants will be producing,” stated Bill Wright, CEO of CGrowth Capital, Inc. “We are ecstatic about the progress being made so early in the year and are looking forward to exciting updates in the weeks to come.”
Mr. Wright continued, “We are in the envious position that we are able to fund our initiatives without having to dilute the Company any further. From this point forward, each step taken will be with the goal of strengthening the overall Company and positioning it for a higher exchange.”
Earlier in the week Chewelah Properties, LLC received its Determination of Non-Significance (“DNS”) regarding its SEPA submittal from Stevens County Land Services division to allow its Eastern Washington industrial facility to transition from a mineral processing site to and F-1 manufacturing facility that can produce and process cannabis.
A licensed Tier 3 marijuana producer is currently qualified to manage between 10,000 square feet to 30,000 square feet of marijuana grow canopy, as well as additional processing within Washington State (the largest available license). The combined tenant production that the Company now supports is as much as 90,000 square feet of marijuana grow canopy at full capacity.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as a holding company for businesses and assets focused on all aspects of mining, minerals, exploration, and commercial real estate. The processing of metal ore mining, mineral and specialty rock extraction, as well as oil and gas production, are multi-billion dollar market opportunities which is capitalized on through processing, sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and other commodities to market. CGrowth Capital will focus on acquiring or land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of operations.
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
CGrowth Capital, Inc.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words “anticipate,” “estimate,” “expect,” “intend,” “plans,” “projects,” and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE: CGrowth Capital, Inc.