Leading Cannabis Cultivation Supplier Poised to Benefit from Canada’s Newly Legal Adult Use Cannabis Market
KIRKLAND, Wash., Oct. 24, 2018 (GLOBE NEWSWIRE) — GrowLife, Inc. (OTCQB: PHOT), one of the nation’s most recognized indoor cultivation product and service providers, today announced the company was featured in a CNBC news special highlighting GrowLife’s expansion into Canada’s burgeoning cannabis industry.
The network has 9,500,000 monthly viewers in the U.S. and Canada. The segment discusses Canada’s October 17 legalization of cannabis for adult use, which will also allow for cannabidiol (CBD) hemp oil to be extracted from the hemp plant, potentially creating a large opportunity for GrowLife to offer products and services to the expanding cannabis and hemp industries.
The CNBC news segment, “US cannabis companies set to gain from Canadian market,” details the immense opportunity companies like GrowLife can expect to see in Canada following the G7 nation’s legalization of adult use cannabis. The clip highlights GrowLife’s role as a leading supplier of ancillary services to the Canadian industry and was also included on Yahoo Finance and MSN Money websites, among others.
During the segment, CNBC discusses GrowLife’s unique offerings as a “company that provides cannabis growers with materials and equipment,” going on to state that “the company recently opened a store in Calgary and is expecting a surge in demand.”
Earlier this year, GrowLife opened its new retail location in Canada to meet the demands of the growing Canadian cannabis cultivation market. The store in Calgary, Alberta, offers GrowLife’s full suite of products for its hydroponic and organic growing customers of all sizes. The location is also staffed with industry experts who educate and train customers on efficient growing and cultivation practices.
Deloitte estimates the Canadian cannabis market has a retail value between $4.9 billion to $8.7 billion, which would rival the size of the $5 billion Canadian spirits market. This value increases to between $12.7 billion and $22.6 billionwhen cannabis products and services such as cultivation kits, lighting, and hydroponics are included, all of which GrowLife offers at their Calgary location.
“We are thrilled to be featured in CNBC’s coverage of Canada’s cannabis industry that allows the public and our shareholders more insight into our operations there,” said GrowLife, Inc. CEO Marco Hegyi. “Our focus is on supporting growers of all sizes, and we are proud to partner with small and large scale cultivators throughout the U.S. and Canada. On legalization day, CTV Calgary also aired a segment featuring our Calgary storefront, and we trust the momentum from these recent, noteworthy pieces of coverage will continue to propel our expansion in Canada and throughout North America.”
In addition to the company’s placement in CNBC, GrowLife was also recently featured in the following news outlets:
- Benzinga: ‘Cannabis Is Now Legal In Canada: Industry Insiders Discuss What It Means For Stocks, International Market’
- CTV Calgary: ‘Marijuana legal in Canada’
- Microcap Daily: ‘Growlife Inc (OTCBB:PHOT) Soars After Mention on TV Special’
The promise of legalization has spawned a so-called green rush, with the industry now worth more than $60.6 billionon the Canadian Stock Exchange. GrowLife is a ‘picks and shovels’ leader for this new market, offering industry-leading hydroponics and thousands of other brands and products that cater to cultivators of all sizes.
For more information about GrowLife, please visit the company’s website. Products can be purchased at ShopGrowLife.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 representatives 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.
For more information, The GrowLife 2017 Stockholder Review presentation can be found on the Company’s homepage at www.GrowLifeInc.com.
Public Relations Contact:
Cassandra Dowell, 858-264-6600
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FORWARD LOOKING STATEMENT:
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of GrowLife, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words may, would, will, expect, estimate, can, believe, potential and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond GrowLife, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors.