Grow Solution Holdings Inc. (OTCMKTS:GRSO) In Negotiations To Provide An 80 Unit $20 Million Facility

Grow Solution Holdings Inc. (OTCMKTS:GRSO) In Negotiations To Provide An 80 Unit $20 Million Facility

Grow Solution Holdings Inc. (OTCMKTS:GRSO) has announced that it has commenced final discussions to sign a Letter of Intent to provide a customer near Smithers B.C with an 80 unit $20 million facility. The company will provide more details on the progress of the deal soon.

Agreement
to provide facility part of the company’s expansion plans

The company has been expanding its operations in recent times as part of the company’s strategy to enhance its foothold in the market. Grow Solutions Chief Executive Officer Chad Fischl stated that the move is part of the company’s aggressive global expansion plans. He said that as a company, they were delighted to start a series of Strategic Partnerships and Joint Ventures in the next few weeks and coming months.

Regarding the facility near Smithers B.C,
the CEO stated that currently they are still in negotiations and the processes
are promising. The company will provide a detailed announcement regarding the
deal in the next few days.

Equally, the company has indicated that it
has completed it’s 2017 financial and expects to complete 2018 through 2019
financial in the next four weeks. This will be vital in ensuring the company is
current and remove the stop sign from its symbol.

Product
lease agreement with Sundance Prairie Products

In July the company announced that its
subsidiary AeroGrow Manufacturing Corp had entered a “product lease and loyalty
agreement” with Sundance Prairie Products Ltd. The company expects the project
to begin with the manufactures and building of 32 AeroPod Units. Grow Solutions
anticipates completion of the project towards the end of the second quarter of
2020.

Commenting on the project, the CEO indicated that the agreement underscored the commitment of the company has in offering investors value. He added that this was a significant step in the implementation of the company’s strategic expansion plans across the globe. The CEO indicated that the joint venture project would generate revenue close to $215 million in the next five years.

Besides AeroGrow Manufacturing, the company
also runs another Wholly-owned subsidiary Pure Roots Holdings Ltd.

Published at Wed, 11 Sep 2019 11:42:07 +0000