Smoke on the Water, Inc., a Wholly Owned Subsidiary of Grow
Condos, Inc., Enters Agreement to Purchase Lake Selmac Resort &
RV Park
Taking an Advantageous Position in the Recreational Sector, Grow
Condos Secures First Location to be Established as a Smoke on the
Water Cannabis Friendly Campground
EAGLE POINT, OR -- January 23, 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
Companys new wholly owned subsidiary, Smoke on the Water, has
entered into an Agreement to acquire one of the territorys
privately owned nature rich vacation spots, Lake Selmac Resort
& RV Park, situated in the picturesque heart of Southern
Oregon.
Located just 20 miles south of Grants Pass, Oregon and 2.5 miles
east of the Redwood Highway (Hwy. 199) in Selma, Oregon, Lake
Selmac Resort the peaceful exclusive property currently
facilitates fishing, swimming, boating, and in addition to RV
parking, has tent camping & cabin locations established for
accommodation. To view more regarding the property, visit: http://www.lakeselmac.com
Because its not yet permissible to recreationally smoke in
National and State Parks, it has been discovered that relaxed
marijuana laws are indeed a powerful motivator for tourists, which
creates a very lucrative niche opportunity for smaller, privately
owned properties that can offer the freedom of experiencing Oregons
strikingly beautiful landscape while also allowing its visitors to
enjoy Oregons 420 friendly privileges.
The Travel Oregon Strategic Plan for 2015-17 states: More people
than ever are choosing to come to Oregon, and they are traveling
farther than ever to get here. They are coming to enjoy the things
we love: natural beauty, wilderness, adventure, amazing fresh food,
wine, craft beer, world-class sports, and a vibrant arts and
culture community. The result of all these visitors is a long list
of powerful statistics and measures that show the profound economic
power of tourism in Oregon.
In a recent survey done in Colorado, the following statistics
were discovered: Potential summertime visitors who were exposed to
the states tourism ads said the marijuana laws influenced vacation
decisions almost 49 percent of the time, The Denver Post reports.
While the states tourism ad campaign does not mention marijuana, 22
percent of survey respondents said the drug was extremely
influential in their decision to visit Colorado. In addition, 20
percent said it was very much influential and nearly 7 percent said
it was somewhat influential.
This is one of the most exciting ventures to date for our
Company. The opportunity for this segment of the real-estate
industry is potentially very advantageous and largely untapped.
This year we expect significant growth through this subsidiary, as
we build, launch, and brand one of Oregons next beautiful cannabis
friendly destinations. stated Wayne Zallen, Chief Executive
Officer.
About Smoke on the Water Inc: Smoke on the Water, Inc.is Grow Condos wholly owned
subsidiary, designed to capitalize on the countrys growing level of
recreational marijuana acceptance. The company plans to engage in a
roll up strategy for this highly-fragmented industry and provide
turn-key solutions for Marijuana-friendly campgrounds and resorts.
The company has strategized to initially develop the property
through acquisition, subsequently rebranding the existing RV
business to represent the Smoke on The Water brand. 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. For more
information, visit: www.smokeonthewater.club
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