Greengro Technologies, Inc. (OTC PINK: GRNH), a world-class provider of eco-friendly green technologies, in anticipation of recently passed Proposition 64, announces today that its wholly-owned subsidiary, CBD Ventures, will provide turnkey cannabis extraction labs and launch a line of CBD (cannabinoid derived) nutraceutical products in early 2017. These announcements are the first of several strategic advancements the Company has been developing to service the new cannabis industry in California.
Voters approved recreational marijuana initiatives in California, Massachusetts and Nevada, making California the largest populated state in the nation to legalize the recreational use of marijuana. Considering the size of the state’s economy (approximately 12 percent of the U.S.) and the economic impact of the marijuana industry there, the approval of the ballot measure provides a foundation for the Company to now safely build, invest and expand to serve the largest market for cannabis products in the U.S.
“Proposition 64 grants California its rightful place as the cannabis industry’s hub for innovation, research and development,” said Aaron R. Thomas, President of CBD Ventures. “We have been diligently working within the State’s parameters for medical marijuana and this monumental industry advancement allows us to fully exhaust our efforts. We are excited to bring our state-of- the-art nutraceutical product lines to market and utilize the whole plant in uncharted territories.”
CBD Ventures is focused on the pursuit of advantageous strategic partnerships with industry giants that comprise all potential applications of cannabis and hemp in the medical industry and beyond. Management strategizes to capitalize on endeavors that will strengthen the Company’s local California footprint and strengthen its position as a trailblazer in the United States newest and largest marijuana market.
The Company will keep shareholders updated as events unfold with its new product lines, as well as other projects currently underway.
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