EAGLE POINT, OR-(Marketwired - Apr 12, 2017) - Grow Condos, Inc. (OTCQB: GRWC), a fully reporting publicly traded company specialized in cannabis industry related “Condo” style real estate and turn-key grow facilities, is pleased to announce that following the Company’s “Smoke on the Water” acquisition, the Company’s Chief Executive Officer, Wayne Zallen was Interviewed at Nasdaq MarketSite at Times Square by Jill Malandrino, Markets Reporter, where he was able to present insight into the Company’s unique position in the industry and corporate vision. The interview can be viewed in its entirety at the NASDAQ site shortly.
Mr. Zallen introduced the Company with a brief overview, reflecting on the various segments of the Company, particularly the corporate real estate division, branding services and financial Services. He proceeded to comment on the statistic revealing that 1 in 5 people or approximately 20% of the US population reside in a legal marijuana state, highlighting market potential for the building of a national footprint. Furthermore, he proceeded to share, based on the Company’s recent “Smoke on the Water” acquisition, that management envisions the building out of a growing number of cannabis friendly destinations. Activities would include yoga, massage, spiritual themes, and amenities would include a general store and the leasing of a dispensary on the property.
In response to an inquiry regarding the Company’s advancement strategy, Mr. Zallen shed light on his ideas regarding the advantage of growth through acquisition. He stated: “The RV industry is very fragmented; full of mom and pop operators, that are basically trading around 3-5% EBITDA, and we’re basically thinking that we can grow this to about 20% EBITDA plus land value. So we see a very fast way to grow our top line in this industry.”
Upon conclusion, in response to Jill’s inquiry regarding his foresight in the political realm and the long-term outlook, he stated: “None of us know what is going to happen with the Trump Administration; that being said, I do think that what’s going on in the industry is that the states that do have legal Marijuana are enjoying the tax benefits from that. I don’t think that they are going to want to see those tax revenues stop. I also think that other states right now are looking at the legal states and thinking that they might want a piece of that pie.” He concluded by eluding to the fact that the analyst projections point to a 50 Billion dollar industry by 2020, giving the Company the ability to develop a substantial national footprint.
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Grow Condos, Inc. recently announced the successful acquisition of one of the territory’s privately owned nature rich vacation spots, Lake Selmac Resort & RV Park, situated in the picturesque heart of Southern Oregon. Located just 20 miles south of Grants Pass, Oregon and 2.5 miles east of the Redwood Highway (Hwy. 199) in Selma, Oregon, Lake Selmac Resort the peaceful exclusive property currently facilitates Fishing, Swimming, Boating, and in addition to RV parking, has Tent Camping & Cabin locations established for accommodation. To view more regarding the property, visit: http://www.lakeselmac.com. Shareholders will be kept updated as events continue to unfold.
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About Smoke on the Water Inc: Smoke on the Water, Inc. is Grow Condo’s wholly owned subsidiary, designed to capitalize on the country’s growing level of recreational marijuana acceptance. The company plans to engage in a roll up strategy for this highly-fragmented industry and provide turn-key solutions for Marijuana-friendly campgrounds and resorts. The company has strategized to initially develop the property through acquisition, subsequently rebranding the existing RV business to represent the Smoke on The Water brand. Upon project launch, the Company plans to provide fully functional vacationing solutions to campground operators and owners seeking to fill the growing demand for stress free and acceptable vacationing for the pro-personal choice and marijuana smoking community. For more information, visit: www.smokeonthewater.club
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, own and are developing a property in Eugene 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.
CONTACT:
Grow Condos, Inc.
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Source: Grow Condos, Inc.