Anaheim, California – October 5, 2021 (Newsfile Corp.) (Investorideas.com Newswire) GreenGro Technologies, Inc. (OTC Pink: GRNH), an established provider of eco-friendly green technologies for the industrial hemp and cannabis industries, today announced that it has been awarded an exclusive multi-million dollar agreement to oversee the manufacturing and distribution of top-quality-grade medical cannabis products and pharmaceutical cannabinoid medicines across the United States and Mexico. The five-year agreement was awarded to the Company by Neurofarrms, a California-based holistic and wellness company that is developing transformative therapies derived from tetrahydrocannabinol (THC) and cannabinoids (CBD) for people suffering from diseases with high unmet medical needs. The Company expects to disclose additional details as it pertains to the size of this agreement and its expected future financial contributions in a follow-up press release.
“We are proud of the continued success and progress of our cannabinoid-based drug development program which has reached the highly anticipated commercialization stage,” said Victor Rocha, Founder and CEO of Neurofarms, LLC. “The application of our CBD-product line to over a thousand patients, with virtually no side effects, underscores the potential of our portfolio to address a range of medical conditions, supporting our position as one of the most successful and influential players in the emerging cannabis-based segment of the industry. As a result, we have achieved a critical mass and felt now was the opportune time to partner with GreenGro Technologies, an industry leader with the manufacturing and distribution expertise, to support our commercialization plans.”
“Securing this opportunity with Neurofarms marks a significant accomplishment for Cannabis Ventures, a wholly-owned subsidiary of GreenGro Technologies, Inc.,” said Robert Martinez, Chief Executive Officer of Cannabis Ventures. “We expect revenues from our agreement with Neurofarms to enable us to achieve profitability by next fiscal quarter ending March 31, 2022, a key milestone in GreenGro’s path towards becoming a global leader in the development and commercialization of ancillary services for the cannabis market,” concluded Mr. Martinez.
“We believe the combined capabilities of GreenGro Technologies and Neurofarms will produce the highest quality products and efficacy for our consumers,” said James Haas, Chairman and Chief Operating Officer of GreenGro Technologies, Inc. “Neurofarms has already made significant strides in the medical arena through its unique ability to successfully treat a number of ailments through the use of healing properties derived from herbs, hemp and cannabinoids. Neurofarms’ unique formulations coupled with GreenGro’ s business infrastructure should ensure the successful launch of our new partnership,” concluded Mr. Haas.
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About GreenGro Technologies, Inc.
GreenGro Technologies, Inc. (OTC Pink: GRNH) is a vertically integrated provider of eco-friendly state-of-the-art technological solutions to the green industries. The Company is a trusted partner to the cultivation, extraction, production and retail aspects of the green market through a combination of three operating divisions: CBD Ventures, Cannabis Ventures and GenoBreeding. Each division is able to leverage the strengths of the other, creating a synergistic, efficient and highly profitable business model.
For additional information about GreenGro Technologies and its solutions, please visit
https://www.facebook.com/GreengroTechnologiesInc or the Company’s website at www.greengrotech.com.
(Safe Harbor Act: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company’s best judgment based upon current information and involve several risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.)
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