Leading Hydroponics Supplier Specializing in the Cannabis Industry Ready to Support Canada’s Projected $22.6 Billion Ancillary Cannabis Market
KIRKLAND, Wash. – October XX, 2018 – GrowLife, Inc. (OTCQB: PHOT), one of the nation’s most recognized indoor cultivation product and service providers, today announced the company will host an event to celebrate Canada’s legalization of adult-use cannabis at the company’s flagship retail store on the same date the country’s new program goes into effect on Oct. 17, 2018. The company’s flagship retail store GrowLife Hydroponics is located at 2323 32nd Ave #113 in Calgary, Alberta, and the event will take place during the business hours of 10 a.m to 6 p.m.
During the all-day event, GrowLife CEO Marco Hegyi and GrowLife Commercial Division President Joe Barnes will be in attendance to discuss GrowLife’s products, offerings, and plans for expansion in the rapidly developing new market. Deloitte estimates the Canadian cannabis market has a base retail value between $4.9 billion to $8.7 billion, which would rival the size of the $5 billion Canadian spirits market. The market for cannabis products and services — including growers, testing labs, lighting, and security systems — would increase that number to between $12.7 billion and $22.6 billion, according to Deloitte.
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.
“We look forward to the launch of Canada’s adult-use cannabis program and are happy to offer this event at our flagship Canadian store to further the conversation about best cultivation practices,” said GrowLife CEO Marco Hegyi. “We pride ourselves in providing environmentally-friendly growing supplies that utilize cutting edge technology, which is why we created GrowLife Innovations, a division of the company dedicated to developing energy-efficient growing technology to meet the demands of the rapidly growing industry.”
The promise of legalization has spawned a so-called green rush, with the industry now worth more than $60.6 billion on the Canadian Stock Exchange. GrowLife is poised to serve as the ‘picks and shovels’ leader for this new industry, offering industry-leading hydroponics and thousands of other brands and products that cater to cultivators of all sizes.
“It is incredible to see Canada legalize the adult use of cannabis, and we could not be more happy to join in celebrating this historic occasion,” said GrowLife Commercial Division President Joe Barnes. “Our Canadian storefront’s strategic location allows us to ship throughout the country as cannabis cultivation continues to be more widely accepted, both here in Canada and throughout North America.”
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
Investor Relations Contact:
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.