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By Teresa Matich

CannaGrow Holdings (OTC Pink:CGRW) has negotiated and signed a long term lease agreement with Category One Botanicals, a state-licensed grower in Colorado.

As quoted in the press release:

CannaGrow Holdings has negotiated and signed a long-term sublease agreement with state- licensed grower Category One Botanicals, LLC, for the five-phase Cannabis cultivation facility on property located at the Colorado Buffalo Ranch Filing No. 5-Lot 61. The five-phase build out encompasses the entire facility now being constructed on five (5) of the twenty (20) acres currently controlled by Cannagrow Holdings under a five-year master lease agreement with three (3) multi-year options for renewal.

CannaGrow CEO, Delmar Janovec, said:

With a target of early June for the completion of the 3200-sq. ft. Head House, the 3300-sq. ft. Nexus Greenhouse, and three (3) of the six (6) planned 2880-sq. ft. Hoop Houses, we are prepared to accommodate our new tenant. With the entire 5-acre facility now under a sublease contract, the company can now focus on one or more of the recent inquiries about the development of an additional facility on an adjacent footprint.

Click here for the full press release.

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