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Authoriszor Completes Acquisition of GreenGro Technologies -- A Medical Marijuana Provider
BUENA PARK, CA, Feb 16, 2010 (MARKETWIRE via COMTEX) -- Authoriszor, Inc. announced today that it has completed the acquisition of GreenGro Technologies, a medical marijuana provider holding company, and the Company's subsequent name change to GreenGro Technologies, Inc. (PINKSHEETS: GRNH). The transaction also includes the acquisition of CannovaHealth, a clinic management company based in Newport Beach, CA. Terms of the transaction were not disclosed.
GreenGro Technologies is a vertically integrated medical marijuana company which provides management services to non-profit patient cooperatives in southern California. Through its subsidiaries, GreenGro manages the cultivation of medical marijuana for patient owned cooperatives while providing clinic management services through CannovaHealth. The Company is scheduled to open 5 nurseries and 4 dispensaries in the coming year on behalf of over 1,200 patients in the Southern California area. Company plans call for the expansion of patient coverage through the franchising of non-profit clinics and nurseries.
In other related news, the Board announced the transfer of all assets and liabilities of Authoriszor to former Board members for an undisclosed sum.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
GreenGro Technologies, Inc.
Michele Hector Batson