EAGLE POINT, OR / ACCESSWIRE / June 30, 2015 / Grow Condos, Inc. (GRWC), a developer of warehouse condominiums for the legal medical and recreational cannabis industry provides update regarding state of Oregon’s July 1 implementation of Measure 91 legalizing recreational marijuana.
Wayne Zallen, President and CEO of Grow Condos, Inc. says, “We are very excited for this historic day when the state of Oregon legalizes recreational marijuana and joins the ranks of the states of Washington, Alaska and Colorado in expanding access to recreational marijuana. Being an Oregon based company we know the implementation of Measure 91 will offer many opportunities for cannabis growers, retailers and the general public. We believe Grow Condos is well positioned to capitalize on the growing Cannabis industry by providing turn-key real estate growing facilities to licensed growers in Oregon and elsewhere.”
Oregon’s Measure 91 will start July 1, 2015 and will eliminate certain issues caused by prohibition and possession of marijuana within the state, protect the safety and welfare of the state and its residents as well as expand market opportunities.Measure 91 allows anyone over the age of 21 in Oregon to possess up to 8 ounces of usable marijuana at home and up to one ounce outside of their residence.
GrowCondos, Inc. announced on February 11, 2015 that it has entered into a Purchaseand Sale Agreement on 2.67 acres in the Pioneer Industrial Park, in Eugene Oregon.On this property, Grow Condos,Inc. is currently planning to build an approximately 42,000 square foot warehouse condominium project, including four buildings, some of which may be bought by a single user. Grow Condos, Inc. owns and operates a 15,000 square foot facility in Southern Oregon that is fully occupied.
About Grow Condos, Inc.:
Grow Condos, Inc. (GRWC)is a real estate purchaser, developer and manager of specific use industrial properties providing “Condo” style turn-key grow facilities to support Cannabis growers.The Company intends to own, lease, sell and manage multi-tenant properties so as to reduce the risk of ownership and reduce costs to the tenants and owners.The Company is not involved in the growing, distribution or sale of Cannabis.
Forward looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company’s products, increased levels of competition for the company, new products and technological changes, the company’s dependence on third-party suppliers, and other risks detailed from time to time in the company’s periodic reports filed with the Securities and Exchange Commission.
Phone (541) 879-0504
Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Grow Condos, Inc, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Grow Condos, Inc. ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Grow Condos, Inc. filings with the OTC Markets, Securities and Exchange Commission and/or the company’s website.
Source: Grow Condos, Inc.