GrowLife, Inc. (OTC Pink: PHOT) operates as one of the nation’s largest cultivation service providers for organics, herb, greens, plant-based medicines, and cannabis. Shares of the cultivation service provider are rallying 22.76%, through early trading on Tuesday, February 6, 2018. Over the past month, GrowLife, Inc. has seen average daily volume of 69.42 million shares. However, volume of 34.62 million shares or dollar volume of $626,622, has already exchanged hands on the day.
Shares of GrowLife, Inc. are rallying today, after the company announced that its GrowLife HP Soil has been selected for exclusive use in three major indoor cultivation facilities across the United States. One of the facilities will be Colorado’s largest indoor cannabis cultivation site. The other two facilities utilizing the proprietary soil blend are located in Portland, Oregon and Las Vegas, Nevada. The exclusive agreement was made with Green Man Cannabis, which operates as a Colorado-based cannabis grower and dispensary operator. Here is the full press release detailing of the exclusive use agreement:
GrowLife, Inc. Press Release:
KIRKLAND, Wash.–(BUSINESS WIRE)– GrowLife, Inc. (PHOT), one of the nation’s most recognized indoor cultivation product and service providers, today announced that GrowLife HP Soil (“GrowLife HP”), the Company’s organic certified high-porosity peat mix, was tested and selected for exclusive use in three major indoor cultivation sites across the country, including in one of the nation’s largest state-sanctioned cultivation facilities with over 120,000 square feet of production room in Colorado.
Denver, Colorado-based Green Man Cannabis, a Colorado cannabis cultivation and dispensary chain, ran a multiple-month test with GrowLife HP that delivered such favorable results that the company has entered into an agreement to exclusively use GrowLIfe’s highly oxygenated soil for all further production in the facility. In addition to their operations in Colorado, Green Man has begun using GrowLife HP in its cannabis cultivation facilities in Portland, Oregon, under the brand Phresh and in Las Vegas, Nevada, under the brand Greenway Medical.
“We had a lot of choices in soil mixes and needed a product that aided in producing the highest-quality flower that our customers have come to expect,” said Green Man Cannabis Partner and Chief Cultivation Officer Corey Buffkin. “After months of testing and production, we are confident in our decision to use GrowLife HP Soil as it meets our quality and pricing needs. This high-porosity organic mix allows us to feed our plants more often, which means increased yields.”
“We are excited to have our product selected by such a renowned and large cultivation company, not only from a financial standpoint but as a testament to our product’s high-quality characteristics and formulation,” said GrowLife CEO Marco Hegyi. “Offering the highest quality product at the best price is a part of GrowLife’s mission. We are proud to support cultivation operators on the forefront of this rapidly expanding market.”
GrowLife recently announced the opening of a flagship Canadian retail location built in order to meet the growing market demand for indoor cultivation equipment in the emerging legal cannabis Canadian marketplace, which Deloitte estimates has a retail base value between $4.9 billion-$8.7 billion.
For more information about GrowLife, please visit the company’s website. Products can be purchased at GrowLifeEco.com. Additional commentary on the Company and the industry as a whole can be found on the CEO’s blog.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representative covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.