EAGLE POINT, OR — (Marketwired) — 04/19/16 — Grow Condos, Inc., a fully reporting publicly traded company under the trading symbol (OTC PINK: GRWC), is a real estate purchaser, developer & manager of specific use industrial properties providing “condo” style turn-key grow facilities to support the cannabis industry. Grow Condos Inc. is pleased to announce that it has signed an investment agreement with Tangiers Global LLC for up to $5 million dollar fixed funding commitment through an equity enhancement instrument. The closing is subject to an effective registration statement.
The funds are anticipated to be used for the following:
1) Expansion of new additional industrial condo project developments. The company is actively searching for its third development. This property will likely be outside the state of Oregon and start our goal of becoming a national real estate developer and holder to the cannabis industry.
2) Working and equity capital for existing properties in development
3) Development and merchandising of education and intellectual property products for the growing community
4) Marketing and advertising
5) Broadening the management team
“We are extremely excited to have Tangiers as a financial partner for Grow Condos. They took the time to understand the company and the enormous potential opportunity in our industry,” said Wayne Zallen, CEO Grow Condos, Inc.
“Grow Condos has identified a unique business model in an explosive industry and we are delighted to be a part of it,” said a senior representative of Tangiers.
About Tangiers Global LLC
Originally founded in 2006, the Tangiers family of funds provides working and expansion capital to small and microcap public companies through a variety of investment structures, including the new multi-million dollar Fixed Funding Commitment™. Tangiers prides itself on building long term relationships with client companies to ensure that they have the resources necessary to propel their growth year after year.
About Grow Condos, Inc.
Grow Condos is a fully reporting publicly traded company listed under the symbol GRWC: Pink Sheets. It is a real estate purchaser, developer & manager of specific use industrial properties providing “condo” style turn-key grow facilities to support the cannabis industry. We own, lease, sell and manage multi-tenant properties.
Like during the Gold Rush days in California, Grow Condos is focused on a pick-and-shovel approach to participating in the exploding marijuana industry. We finance the purchase and/or development of properties by offering to investors private placement sponsorships, debt instruments, or limited partnerships. We believe there is a significant investor demand for such opportunities. Currently we own and manage a 15,000 square foot warehouse in Eagle Point, Oregon, and are currently looking into other acquisitions in Oregon, Colorado, Washington, California and Nevada with like-minded investors who want to share in the growth of this dynamic new industry.
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.