WOODLAND HILLS, Calif.,
May 22, 2014 /PRNewswire/
-- GrowLife, Inc. (OTC: PHOT), the recognized leader in
specialty hydroponics and an essential facilitator of the grower
marketplace, today announced the decision made by Sterling Scott to depart from daily operational
duties as Chief Executive Officer and Director and Chairman of the
Board for personal reasons. Marco
Hegyi, Company President, will assume Mr. Scott's CEO duties
and responsibilities, and continue to drive development and
expansion strategies.
"GrowLife is firmly positioned to take advantage of the
explosive growth in hydroponics retail and legal cannabis. We have
a strong dedicated board of directors, group of executives and
retail team that are excited about and ready to forge ahead with
GrowLife 2.0," said Mr. Hegyi. "I look forward to continuing a
close relationship with Mr. Scott and thank him for choosing me as
part of the future leadership team for GrowLife."
GrowLife 2.0 includes new infrastructure delivering an immersive
seed-to-sale commerce platform, which is expected to accelerate
growth for the entire hydroponics and cannabis grower industry.
Mr. Scott respectably served the Company for more than two
years. During his tenure with GrowLife, Mr. Scott successfully led
the Company to acquire seven retail stores and ecommerce operations
that generated $2.4 million in
revenues for its first financial quarter of 2014.
"Marco has more than 30 years experience primarily focused in
the technology space. He has a strong background in executive
management, team building, business and financial operations," said
Jeff Giarraputo, Member of the Board
of Directors. "His background lends well to the development and
expansion of the next phase of GrowLife.
For more information, please visit: www.growlifeinc.com.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) develops, markets
and deploys products and services addressing the needs of legal
cannabis growing and retail operations, including hydroponic
growing equipment and retail support software. The Company provides
these solutions in our nationwide retail network, as well as online
sites Greners.com, Phototron.com and RockyMountainHydro.com. The
Company also operates the political and social forum,
Cannabis.org
Cautionary Language Concerning Forward-Looking
Statements
This release contains "forward-looking statements" that include
information relating to future events and future financial and
operating performance. The words "may," "would," "will,"
"expect," "estimate," "can," "believe," "potential" and similar
expressions and variations thereof are intended to identify
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results, and will
not necessarily be accurate indications of the times at, or by,
which that performance or those results will be achieved.
Forward-looking statements are based on information available
at the time they are made and/or management's good faith belief as
of that time with respect to future events, and are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in or suggested
by the forward-looking statements. Important factors that could
cause these differences include, but are not limited to:
fluctuations in demand for GrowLife's products, the introduction of
new products, the Company's ability to maintain customer and
strategic business relationships, the impact of competitive
products and pricing, growth in targeted markets, the adequacy of
the Company's liquidity and financial strength to support its
growth, and other information that may be detailed from
time-to-time in GrowLife's filings with the United States
Securities and Exchange Commission. Examples of such
forward-looking statements in this release include statements
regarding future sales, costs and market acceptance of products as
well as regulatory actions at the State or Federal level. For
a more detailed description of the risk factors and uncertainties
affecting GrowLife, Inc. please refer to the Company's Securities
and Exchange Commission filings, which are available at
www.sec.gov. GrowLife, Inc. undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Media Relations:
GrowLife Communication Team
pr@growlifeinc.com
Investor Relations:
Shareholders Support
Team
Shareholdersupport@growlifeinc.com
SOURCE GrowLife, Inc.