ANAHEIM, Calif., Feb. 25, 2021 /PRNewswire/ -- GreenGro Technologies, Inc. (OTC: GRNH), an established provider of eco-friendly green technologies for the Industrial Hemp Industry, announced today it has officially begun to position itself for the eventual federal legalization of cannabis in the U.S. The Company's initial steps include acquiring intellectual property rights such as the trademarks IGot420tm, 420 Rescuetm, and Reefer Throwdowntm. The intellectual property will be held in the Company's Cannabis Ventures Division which is expected to eventually do for Legal Cannabis what the Company's CBD Ventures Division is currently doing for Industrial Hemp.
GreenGro's COO, Mr. James Haas believes that acquiring and securing intellectual property rights is the first step in positioning the Company for a lucrative future in the Cannabis Market. "Our experience with Industrial Hemp will be easily transitioned into the Cannabis Market. What should be understood is that we already have the platform established. Our recent partnerships with organic certification experts Organna LLC & Southern Grown LLC go far beyond the Industrial Hemp space. We purposely arranged those strategic alliances so they could be instantly repurposed for the cannabis space. So, it is paramount that we begin our venture into Cannabis by securing our branding rights first. We want to be able to 'hit the ground running' as soon as the federal legal landscape for cannabis in the U.S. changes. That would mean an immediate deployment of our current Industrial Hemp based services into cannabis-based branded products when the time is right."
Mr. Darrel Courtney , GreenGro's CEO, added: "The Company will be strategically poised to simultaneously capitalize on the two markets. It will have two branches operating in Cannabis and Industrial Hemp respectively. This diversification of company resources not only expands our total market reach, but it also allows for each segment to compliment the other. The markets, although intertwined to some extent, follow wholly different trajectories and are aimed at different end-user bases. This should not only increase our bottom-line income but also level out our volatility as performance in one market will support the other. Additionally, our international footprint in Industrial Hemp will serve as a springboard to international cannabis transactions that we expect to open up upon federal legalization here in the U.S."
According to two recent polls, one from Gallup and the other from Pew Research Center, about two-thirds of people in the US support legalizing cannabis sales. And the results of last November's general election proved that sentiment as initiatives in four states to legalize or decriminalize some form of cannabis all passed. Additionally, several Washington lawmakers have already signaled they'll soon introduce legislation to start reversing the federal ban on cannabis not just for social justice reasons but on economic grounds as well. Strategic consultancy Emerton reports that legalized recreational cannabis in the US is already at a market value of nearly $8 billion and is expected to grow at an impressive 14% every year in the lead up to 2025, landing anywhere between $15 billion and $20 billion . Globally, a report from Arcview has predicted that legal cannabis sales will hit $42.7 billion by 2024, while a report from Grand View Research has said that the global legal marijuana market size is expected to reach $73.6 billion by 2027.
GreenGro Technologies, Inc. (OTC: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. Additional details can be found by visiting the Company's website at www.greengrotech.com .
For additional information about GreenGro Technologies and its solutions, please visit 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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Darrel Courtney , CEO, +1 (714) 367-6538
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SOURCE GreenGro Technologies, Inc.