CannaGrow Holdings, Inc. (OTCMKTS:CGRW)’s CEO, Delmar Janovec, recently attended the monthly meeting of Huerfano County Water Conservatory District, on September 26. The company stated that Mr. Janovec had appeared on behalf of the NuGro Industry, to request the allotment of an additional 1 acre foot of water, as part of the 2017 Substitute Water Supply Plan. As a result, the request was granted by the board, but is still subject to approval by the Division of Water Resources, for the state of Colorado.
The CEO commented on the meeting, saying that successful grow facilities in the state require an adequate supply of water. He noted that the first 5-acre growing facility had been successfully began production and it was time to shift focus towards the remaining 15-acres. Mr. Janovec was of the view that once the Division of Water Resources has approved the plan, it would allow future sub-lessees to have access to clean water supply, for the future.
Mr. Janovec also reaffirmed that CGRW would continue to represent NuGro industries in the Huerfano County, while also serving as a facilities manager for Category One Botanicals LLC. He further revealed that the company was attracting inquiries from prospective tenants, which could translate into improved shareholder value for the company. However, currently CGRW was specifically focusing on the state of Colorado only.
Earlier in September, CannaGrow had announced that Category One Botanicals LLC has been granted access to Cannabase, the largest wholesale marketplace for licensed marijuana growers and retailers, in the state of Colorado. A managing member of Category One, Rod Clawson, stated that it was the right time to be a part of Cannabase, as production had been accelerating and it was almost time for the October and November harvest periods. He also lauded the efforts of CannaGrow staffers, who had been assisting Category One in managing the facility. Dr. John P. Janovec, the COO of CGRW, voiced his opinion that the data received from Cannabase would allow him to improve the second product cycle.
CannaGrow Holdings, Inc. (OTCMKTS:CGRW) closed at a share price of $1.47, after having gained 37.38%, during the October 6 trading session, on a trade volume of 951,516.
