partnership with Native American tribes for the growth, cultivation and dispensing of legal cannabis. As per the details of the partnership, Greengro Technologies would provide the tribal nations with the technology needed to overcome the harsh environmental conditions and successfully grow large areas of cannabis. In return, the tribal nations would provide the company with the cultivated crop.
The CEO of Greengro, Mr. Haas, stated that his company is looking forward to maximizing their revenues from this partnership. In particular his company is targeting tribes that are based in areas with scarcity of water. He further went on to say that Greengro has state of the art growing and processing systems, which are backed up by the company’s solar power backup. Additionally, the company also has a unique reclaimable water system, which could take care of many of the problems faced by farmers.
A recently law calls for the tribal nations to grow, cultivate and sell marijuana in a legalized and regulated way. Since the Native American tribes are not considered a part of the 50-states or any other country of the world, it is hard to get the law imposed. However, having partnerships with various companies in the state can help tackle this problem. Otherwise, the tribal nations would have to come up with regulatory laws of their own.
Additionally, Greengro’s recent acquisition of Hydrogarden gave them access to a number of retail stores around the country. However, the CEO recently announced that the company can no longer accommodate their double figure revenues with current stores. In order to meet current revenues and to meet the growing demand the company has decided to open additional stores in different states. The CEO also believes that the growth trend would continue throughout the current year as well.
Greengro Technologies Inc (OTCMKTS:GRNH) registered an increase of 1.94% on June 22, to close at a share value of $0.0526, after trading a total of 885,330 shares during the session.