SILVERDALE, WA / ACCESSWIRE / April 28, 2016 / CGrowth Capital, Inc. (OTC Pink: CGRA) (the “Company”) is pleased to update shareholders on the progress of its corporate initiatives and projects. Having recently received its initial subscriptions from its wholly owned subsidiary, CGrowth Capital Bond, Ltd., via the £15,000,000.00 British Pounds Sterling (“GBP”) bond offering, the Company has been undergoing changes and taking the necessary steps to properly deploy its capital.
In deploying the bond funds, the Company’s wholly owned subsidiary, Powder River Resources, Inc., has begun a series of strategic hires and equipment purchases to begin mobilizing in the 3,400-acre oil and gas project in Wyoming. Coming out of historically low oil prices and being in a position with capital, we are able to capitalize on deeply discounted equipment and the availability of highly qualified oil field personnel, in moving Powder River into a profitable enterprise. The Company is beginning to bring online an initial series of wells (up to 12) with another dozen being evaluated for workover and production. The first well brought back online after the winter shut in, known as the 182H (seen on our Facebook page), produced an initial push of 61 barrels of oil in its first 18 hours of operation.
The Company’s real estate holdings, known as Chewelah Properties, LLC, has previously announced a series of lucrative leases to legalized cannabis producer/processors at its Washington state facility. Chewelah Properties has completed the 21-day appeals period on its SEPA approval without further comment, cementing the approval for the F-1 manufacturing facility for legalized cannabis production and processing. In addition, the facility has in hand its required building permits for its tenant, Wildfire Cannabis Company, and is anticipating final inspection upon a few minor items being wrapped up. In conjunction with the permitting, Wildfire has informed the Company that they are submitted for State inspection and are awaiting notification from the Eastern Washington LCB inspector of the final inspection and the activation of approved active license status.
As part of an effort to rebrand and bring current information to its shareholders, the Company is releasing a new version of its website at http://www.CGrowthCapital.com. The site will provide information on the Company’s projects and initiatives, up to date shareholder information, and current news from the Company. The new site is expected to go live before close of business Friday at its current web address.
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.