ANAHEIM, Calif. , Dec. 8, 2020 /PRNewswire/ -- GreenGro Technologies, Inc. (OTC PINK: GRNH), an established provider of eco-friendly green technologies for the cannabis industry, today announced that it is on-track to complete its current fourth quarter on a strong note and, most importantly, has planted strategic investments domestically and abroad in anticipation of a blockbuster Fiscal Year 2021, driven primarily by the expected favorable reforms and legislation at the federal level for the rapidly growing cannabis and CBD industries.
"The Company's business plan for Fiscal Year 2021 is expected to capitalize on the cannabis industry's favorable legislative environment which should drive a number of new and existing initiatives designed to ramp-up revenue growth and enhance shareholder value. As forward-looking industry leaders, we have decided this development is a clear signal for us to expand our footprint beyond our domestic borders as new federal legislation here in the U.S. will no doubt have an outsized favorable impact on the global cannabis & industrial hemp markets" said James Haas , Chairman and COO of GreenGro Technologies, Inc. "As an indication of the expected increasing demand for the Company's product lines, we expect to shortly appoint three key additions to our Seed Genetics Program, an agronomist, geneticist and a horticulturist. We look forward to updating our shareholders on our progress in this respect in the very near future," concluded Mr. Haas.
International Expansion
The company just completed a successful trip to Ecuador at the invitation of Government and Business leaders there. The trip was originally slated for March of this year but was delayed due to complications from COVID affecting international travel as well as personally affecting the Company's COO Mr. James Haas . Nevertheless, the trip was nothing short of a success. The Company is now in negotiations to close a deal solidifying an international presence with a South American branch office headquartered in Machala, de el Oro, Ecuador . This summer, Medical Cannabis and Industrial Hemp were each legalized at the Federal level in Ecuador as Cannabis was removed from the Country's list of Controlled Substances. Industrial Hemp is now regulated in Ecuador by its Ministry of Agriculture and Livestock. This development was the principal reason for GreenGro graciously accepting Ecuador's invitation to participate in those reforms and helping to develop Ecuador's International Cannabis Markets for the future.
Management
These developments international further signal that it is time for the Company to accelerate the deployment of its Seed Genetics Program. All successful Cannabis and Industrial Hemp operations start with good genetics. And this is precisely what Ecuador is looking to GreenGro for guidance and assistance in. Consequently, as part of the Company's GenoBreeding division, three new members will be added to the management team in the immediately foreseeable future: an agronomist, a geneticist and a horticulturist. The Company has been interviewing viable candidates over the past few months and is almost ready to announce its choices.
Domestic Cannabis Policy Reforms Expected in 2021
With the Democrats in control of the House of Representatives and the vacancy of Jeff Sessions , a number of groundbreaking marijuana reform policies are expected to pass in 2021. According to Politico, in 2019, 296 members of Congress (68%) represent the 33 states with at least medical marijuana, which means there are sufficient votes to pass long-awaited bills. There are already several bills in the new Congress pertaining to marijuana. And just this past Friday, the House of Representatives passed the Marijuana Opportunity Reinvestment and Expungement Act of 2019 (MORE Act), a landmark legislative bill to end the Federal Prohibition on Cannabis. Although it is unlikely this bill will be approved by the Republican controlled Senate, it was a clear message to the incoming Biden Administration that meaningful reform is long overdue and that a change for Cannabis will be a top priority for the next four years.
For his part, President-Elect, Joe Biden , has already expressed that he wants marijuana decriminalized as well as having the criminal records of those convicted of possession of the drug expunged. His Vice President-Elect, Kamala Harris , meanwhile was one of the co-sponsors of a bill called the Marijuana Justice Act introduced by Senator Cory Booker , which decriminalizes marijuana. Harris has expressed support of expunging convictions for those caught with marijuana and calls out for a path toward decriminalization and legalization.
"This political climate could finally signal the end of cannabis prohibition as we have known it. It may very well introduce a new wave of Cannabis Entrepreneurialism that leads to an explosive growth that our industry hasn't seen before. And we are excited to be at the forefront of this green revolution in the U.S. and beyond!" says Darrel Courtney , CEO of GreenGro Technolgoies.
GreenGro Technologies, Inc. (OTC:GRNH) is a vertically-integrated provider of eco-friendly state-of-the-art technological solutions to the cannabis industry. The Company is a trusted partner to the cultivation, extraction, production and retail aspects of the cannabis 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 busines model.
For additional information about GreenGro Technologies and its solutions, please visit https://www.facebook.com/GreengroTechnologiesInc 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.
Contact:
Info@greengrotech.com
Darrel Courtney
CEO
+1 (714)367-6538
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SOURCE GreenGro Technologies, Inc.