Grow Condos, Inc. Secures $450,000 in Bridge Financing focusing
on the build out of its Smoke on the Water brand
As the Company Enters Final Stages of Due Diligence on Recent
Projects, Funding Solidifies to Conclude Transaction and Begin
Development
EAGLE POINT, OR -- February 9, 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 today that it has obtained
nearly half a million dollars in financing. Management committed to
the building of the Smoke on the Water brand.
With a vision to bring Cannabis Friendly vacationing to life for
nature lovers, tourists, and enthusiasts alike, the Companys wholly
owned subsidiary, Smoke on the Water, has recently mobilized to
discover and acquire existing nature-rich properties to provide
viable resources to visitors seeking to enjoy the benefit of
relaxed marijuana laws in a recreational setting, the opportunity
to enjoy Oregon on a whole new level.
Securing the funding to move Smoke-on-the-Water forward has been
one of our most important milestones. Having the resources in
place, we are enabled to conclude on recent due diligence process,
and highly anticipate the launch of development on key projects.
stated Wayne Zallen, Chief Executive Officer.
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.
According to the Travel Oregon Strategic Plan for 2015-17, it
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.
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 (OTCQB:
GRWC). 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