urban-gro, Inc. Signs Multiple Contracts with Clients in the Industrial, Aerospace, Laboratories, and Hospitality Sectors for an Aggregate Value of More than $2 Million
September 14 2023 - 8:30AM
urban-gro, Inc. https://www.urban-gro.com/ (Nasdaq: UGRO)
(“urban-gro” or the “Company”), an integrated professional services
consulting firm, today announced that the Company signed more than
$2 million of contracts spread across existing clients in target
sectors including industrial, aerospace, laboratories, and
hospitality. Collectively, the contracts include architecture and
design, engineering, and construction management services for
clients in the Midwest and Southern United States. The Company
anticipates that the revenue for these projects will be
predominantly recognized over the next two quarters.
Additionally, and not contemplated in the aforementioned contract
value, urban-gro signed a master service agreement (MSA) to provide
engineering services (Mechanical, Electrical, Plumbing, and Fire
Protection) for two national hotel chains in the United States.
Bradley Nattrass, Chairman and CEO, commented,
“We remain focused on expanding our presence in our target sectors
and these contracts demonstrate the continued execution of our
diversification strategy as well as our team’s technical
capabilities and multi-sector expertise that are highly valued in
today’s marketplace.”
About urban-gro, Inc.urban-gro,
Inc.® (Nasdaq: UGRO) is an integrated professional services
consulting firm delivering professional services and solutions
across architecture, design, engineering (MEP/FP), equipment
integration, and construction management. Our multi-sector
expertise encompasses a diverse set of projects across a host of
industries such as Controlled Environment Agriculture (“CEA”),
light industrial, healthcare, hospitality, laboratories and more.
Our dedicated and innovative team is fueled by a commitment to
empower our clients by providing exceptional customer experiences
throughout the project lifecycle and beyond, including
post-operational support. With offices across North America and in
Europe, we deliver Your Vision – Built. Learn more by visiting
www.urban-gro.com.
Safe Harbor StatementThis press
release contains 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. When used
in this release, terms such as “believes,” “will,” “expects,”
“anticipates,” “may,” “projects” and similar expressions and
variations as they relate to the Company, or its management are
intended to identify forward-looking statements. The
forward-looking statements in this press release include, without
limitation, financial projections, financial guidance, future
events, business strategy, future performance, future operations,
future demand, backlog, financial position, estimated revenues,
losses, adjusted EBITDA, prospects, plans and objectives of
management, including expense optimization, working capital
management, and the future ability to position the Company for
long-term profitable growth. These and other forward-looking
statements are based on current expectations, forecasts, and
assumptions that involve risks and uncertainties that could cause
actual outcomes and results to differ materially from those
anticipated or expected, including, among others, our ability to
successfully manage and integrate acquisitions, our ability to
accurately forecast revenues and costs, competition for projects in
our markets, our ability to predict and respond to new laws and
governmental regulatory actions, including delays granting licenses
to clients or potential clients and delays in passage of
legislation expected to benefit our clients or potential clients,
our ability to successfully develop new and/or enhancements to our
product offerings and develop a product mix to meet demand, risks
related to adverse weather conditions, supply chain issues, rising
interest rates, economic downturn or other factors that could cause
delays or the cancellation of projects in our backlog or our
ability to secure future projects, our ability to maintain
favorable relationships with suppliers, risks associated with
reliance on key customers and suppliers, our ability to attract and
retain key personnel, results of litigation and other claims and
insurance coverage issues, risks related to our information
technology systems and infrastructure, risks associated with
climate change and ESG matters, our ability to maintain effective
internal controls, our ability to execute on our strategic plans,
our ability to achieve and maintain cost savings, the sufficiency
of our liquidity and capital resources, and our ability to achieve
our key initiatives for 2023, particularly our growth initiatives.
A more detailed description of these and certain other factors that
could affect actual results is included in the Company’s filings
with the Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof, except as may be
required by law.
Investor Contacts:Dan Droller:
urban-gro, Inc.EVP Corporate Development & Investor
Relations-or-Jeff Sonnek: ICR, Inc.(720)
730-8160investors@urban-gro.com
Media Contact:Patricia Whyte –
MATTIO Communications(551) 795-7315urbangro@mattio.com
Urban Gro (NASDAQ:UGRO)
Historical Stock Chart
From Apr 2024 to May 2024
Urban Gro (NASDAQ:UGRO)
Historical Stock Chart
From May 2023 to May 2024