ANAHEIM, California, February 25, 2021 / PRNewswire / – GreenGro Technologies, Inc. (OTC: GRNH), an established provider of eco-friendly green technology to the industrial hemp industry, announced today that it has officially started positioning itself for the eventual federal legalization of cannabis in the United States The company’s first steps include acquiring intellectual property rights such as the IGot420tm, 420 Rescuetm and Reefer Throwdowntm brands. The intellectual property is held in the company’s Cannabis Ventures division, which is expected to do for Legal Cannabis what the company’s CBD Ventures division is currently doing for industrial hemp.
GreenGro’s COO, Mr. James Haas believes that acquiring and securing intellectual property rights is the first step in positioning the company for a profitable future in the cannabis market. “Our experience with industrial hemp can easily be transferred to the cannabis market. It goes without saying that we have already set up the platform. Our recent partnerships with organic certification experts Organna LLC and Southern Grown LLC go well beyond the field of industrial hemp. We are strategic Alliances are purposely arranged so that they can be used immediately in the cannabis space, so it is of the utmost importance that we start our business in cannabis by first securing our trademark rights. We want to be able to do so as soon as possible to gain a foothold The federal cannabis legal landscape in the US is changing. This would mean that our current industrial hemp-based services are immediately deployed in branded cannabis-based products at the right time. ”
Mr. Darrel CourtneyGreenGro CEO added, “The company will be strategically able to benefit from the two markets at the same time. It will have two offices in cannabis and industrial hemp. This diversification of corporate resources not only expands our overall market reach, it also enables it Each segment, complementing each other. The markets, while to some extent intertwined, follow completely different paths and target different end-user bases. This should not only increase our bottom line, but it will also offset our volatility as performance in a market In addition, our international presence in industrial hemp will serve as a stepping stone for international cannabis transactions that we expect to open upon federal legalization here in the US. “
According to two recent surveys, one from Gallup and one from the Pew Research Center, about two-thirds of people in the US support legalizing cannabis sales. And the results of the general election last November showed that the mood as an initiative in four states to legalize or decriminalize any form of cannabis is all over. Additionally several Washington Legislators have already signaled that they will soon enact laws to lift the federal cannabis ban not only for reasons of social justice, but also for economic reasons. Strategic consultancy Emerton reports that legalized recreational cannabis in the US has already approached a market value $ 8 billion and is projected to grow an impressive 14% each year through 2025, ending up somewhere in between $ 15 billion and $ 20 billion. Globally, a report from Arcview predicted that legal cannabis sales will increase $ 42.7 billion by 2024, while a report from Grand View Research said the global legal marijuana market is expected to reach size $ 73.6 billion by 2027.
GreenGro Technologies, Inc. (OTC: GRNH) is a vertically integrated provider of state-of-the-art, environmentally friendly technological solutions to the green industry. The company is a trusted partner for the cultivation, extraction, production and retail aspects of the green market through a combination of three businesses: CBD Ventures, Cannabis Ventures and GenoBreeding. Each business area can use the strengths of the other and thus create a synergistic, efficient and highly profitable business model. For more information, please visit the company’s website at www.greengrotech.com.
For more information on GreenGro Technologies and its solutions, please visit www.greengrotech.com.
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Darrel Courtney, CEO, +1 (714) 367-6538
SOURCE GreenGro Technologies, Inc.