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GreenGro Technologies, Inc. (OTCMKTS: GRNH) – Initiation of New Project Translates into Projected Revenues; Analyst Comments

GreenGro Technologies, Inc. (OTC MKTS: GRNH) an indoor and outdoor aquaponic and hydroponic systems and grow room operator, recently announced that affiliated company iGot420 has notified it that final clearance was granted for groundbreaking of a major project in Southern California. The initiation of this project immediately translates into projected company revenues of up to $2,500,000 in sales of equipment and supplies to be used in the first phase of the iGot420 project. The Company had announced earlier this month that it was poised to indirectly benefit from the growth of the recently legalized Cannabis industry. Today’s news adds concrete evidence to that assertion. “Greengro’s record revenues in the first quarter of 2016 continue to ‘grow’ due to steadily increasing demand for our product lines centered around Cannabis,” said James Haas, CEO of Greengro Technologies, Inc. “Not only does our customer base continue to expand leading to increased sales numbers for day-to-day point-of-sale items, but we are now beginning to see sales associated with large scale projects begin to materialize as well due to the increasingly favorable legal landscape surrounding Cannabis.”

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