Grow Condos, Inc. Incorporates New Wholly Owned Subsidiary, “Smoke on the Water”
November 03 2016 - 6:00AM
InvestorsHub NewsWire
Company Launches Revolutionary RV Campground and
Resort Division Designed to Serve the Recreational Sector with the
Establishment of Marijuana Friendly
Campgrounds
EAGLE
POINT, OR -- November 3, 2016 -- InvestorsHub NewsWire -- 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 the
Company has incorporated a new division designed to
capitalize on Oregon’s growing level of recreational acceptance,
through the development of turn-key real-estate solutions for
Marijuana-friendly campgrounds and
resorts.
The company’s strategy is to build out and brand
“Smoke on the Water” as a stand-alone company which could
potentially be spun out as an independent entity. Plans call for
the company to initially develop the property through acquisition,
subsequently rebranding the existing RV business to represent the
Smoke on The Water brand. The company is currently actively looking
for RV parks for sale to begin the operational launch of the
brand.
Also slated for release is
“SmokeOnTheWater.Club”,
where travelers can join a membership based environment designed to
inform as well as reward like-minded consumers through a gratifying
loyalty program.
According to a recent report on
the DenverPost.com, “For the fifth year in a row, Colorado hosted
a record number of tourists who have left a record amount of cash
in their wake. The Colorado Tourism Office on Wednesday reported
that 77.7 million visitors to the state in 2015 spent an all-time
high of $19.1 billion, generating $1.13 billion in state and local
taxes, an increase of almost 7 percent from 2014.” Although there
are no official numbers distinguishing the reason for the increase,
according to Marketwatch.com in 2014 “…one travel booking site saw searches for
Denver jump nearly 75% year-over-year months after recreational
marijuana use was legalized in Colorado.”
“Being in the real-estate industry, we see how
this growing paradigm shift is permeating the various sectors, and
have discovered that there is a strong and growing demand for
Marijuana friendly vacationing.” stated Wayne Zallen, Chief
Executive Officer. “We believe that “Smoke on the Water Resorts” is
going to be a real win-win situation for campground owners, not
only by virtue of the revenue sharing structure, but because
hassle-free lodging that caters to this sector is expected to draw
vacationers from far and wide.
As the Company mobilizes to facilitate another
thriving sector of this budding industry, Grow Condos sets an
advantageous strategy in motion to build out branded RV campground
and resort accommodations. 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.
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 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.
Corporate: www.growcondos.com
Facebook: https://www.facebook.com/GrowCondosInc
Twitter: https://twitter.com/GrowCondosInc
Investor Relations:
ir@growcondos.com
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