Two Rivers Water & Farming Co (OTCMKTS:TURV) majority owned subsidiary firm GrowCo, Inc. bought its second advanced cannabis greenhouse. The company confirmed that the construction will commence early this fall. With the completion of second greenhouse, GrowCo will possess 180,000 square feet of cultivating space to lease.
GrowCo greenhouses offer licensed cultivators with an environmental friendly computer supported natural cultivation system. When compared to transformed warehouses, preliminary trials suggest growers will have the mechanism to cultivate up to 200% more products a square foot and that too at half the cost. The company is not a licensed cannabis retailer or grower. It does not touch the plant and just offers greenhouses and other business development services to licensed marijuana tenants.
Two Rivers Water’s subsidiary expects to offer its greenhouses to licensed cannabis growers in other states of the U.S. John McKowen, the CEO of GrowCo, said that company’s greenhouses are being stated as the preferred method for cultivating cannabis by prospective licensed growers in other U.S. states. Through company’s recently developed, staffed and funded business development segment, GrowCo is able to offer potential licensees with turnkey cannabis cultivation and processing solution.
Two Rivers Water & Farming reported that the penultimate ex-dividend date for the dividend distribution of its subsidiary GrowCo common stock to holders of TURV shares is July 1, 2015. GrowCo shares are not traded publicly and therefore these special distributions is the way by which non-accredited retail investors can get direct exposure to company’s high-growth subsidiary business in the growing legal cannabis industry.
Two Rivers established GrowCo back in May 2014 and has provided subsidiary firm with start-up capital and early stage management. In last trading session, the stock price of TURV declined more than 5% to close the trading session at $0.980.The decline came at a share volume of 40,102 compared to average share volume of 39,972.