Company Increases 2018 Revenue Guidance To Over $30 Million
DENVER, CO, Jan. 12, 2018 /PRNewswire/ – GrowGeneration Corp. (OTCQB:GRWG), (“GrowGen” or a “Company”) one of a largest specialty sell hydroponic and organic gardening stores, with now 14 locations portion both blurb and home growers, announced currently that it has finished an charity of $9.0 million in automobile records led by Merida Capital Partners, that increasing a investment by an additional $2,000,000 of new collateral in a Company. Navy Capital also participated in this turn of financing. The oversubscribed automobile records had a $3.00 per share automobile price, with any $250,000 noteholder receiving 37,500 warrants to squeeze a Company’s common stock.
Darren Lampert, Co-Founder and Chief Executive Officer of GrowGeneration, pronounced “With this additional capital, a association is environment 2018 income superintendence during over $30 million. Several acquisitions are designed to tighten in a 1st and 2nd buliding of 2018. The Company’s merger targets embody hydroponic and cultivation supply operations in a New England and California markets and exclusive products for blurb growers. Merida Capital’s continued support, along with a additional institutional investors, validates a Company’s business indication and a ability to attract high peculiarity vital capital.”
Merida Capital’s Managing Partner, Mitch Baruchowitz, added, “While Merida Capital is tender with a acceleration of GrowGen’s organic expansion and opening in 2017, we are even some-more vehement during a perfect volume of high peculiarity merger opportunities GrowGen has in a middle term. As one of a initial investors in GrowGen, we sojourn assured in a implausible long-term prospects for this company.”
About GrowGeneration Corp.:
GrowGeneration Corp. (“GrowGen”) owns and operates specialty sell hydroponic and organic gardening stores. Currently, GrowGen has 14 stores, that includes 9 locations in Colorado, 2 locations in California, 2 locations in Nevada and 1 plcae in Washington. GrowGen carries and sells thousands of products, including organic nutrients and soils, modernized lighting record and state of a art hydroponic apparatus to be used indoors and outdoor by blurb and home growers. Our goal is to possess and work GrowGeneration branded stores in all a vital ratified cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in a U.S. According to New Frontier Data, by 2020, a marketplace is estimated to strech over $23 billion with a devalue annual expansion rate of 32%.
Forward Looking Statements:
This press recover competence embody predictions, estimates or other information that competence be deliberate forward-looking within a definition of germane bonds laws. While these forward-looking statements paint a stream judgments, they are theme to risks and uncertainties that could means tangible formula to differ materially. You are cautioned not to place undue faith on these forward-looking statements, that simulate a opinions usually as of a date of this release. Please keep in mind that we are not obligating ourselves to correct or publicly recover a formula of any rider to these forward-looking statements in light of new information or destiny events. When used herein, difference such as “look forward,” “believe,” “continue,” “building,” or variations of such difference and identical expressions are dictated to brand forward-looking statements. Factors that could means tangible formula to differ materially from those contemplated in any forward-looking statements done by us herein are mostly discussed in filings we make with a United States Securities and Exchange Commission, accessible at: www.sec.gov, and on a website, at: www.growgeneration.com.