As part of its efforts to take advantage of the growing reception of recreational marijuana in Oregon, Grow Condos Inc (OTCMKTS:GRWC) is planning to build Smoke on the Water as an independent subsidiary with the hopes of eventually spinning it out.
Smoke on the Water
The company intends to purchase RV parks in preparation for the brand launch of Smoke on the Water.
Moreover, Grow Condos will launch SmokeontheWater.Club, which will enable visitors to join a membership-based community and enjoy the benefits of a loyalty program.
These efforts attest to the company’s deep understanding of the need to provide better vacation opportunities that are cannabis-friendly. After all, the growing cannabis industry in the US reflects the growing acceptance of marijuana for both medical and recreational purposes. Consequently, cannabis industry players must take part in the ongoing, fast-paced shift.
“We believe that ‘Smoke on the Water Resorts’ is going to be a real win-win situation for campground owners, not only by virtue of the revenue sharing structure, but because hassle-free lodging that caters to this sector is expected to draw vacationers from far and wide,” noted Wayne Zallen, Grow Condos CEO.
Earlier this year, Grow Condos has sealed a definitive agreement on the Nuggetville Project. Consequently, company will submit engineering plans to Eugene City to secure the necessary building permits.
The Nuggetville Project includes 33 1,500-square-foot unit warehouses. Each of these will be uniquely designed by Nering Construction, LLC, a reliable dealer of high-quality steel buildings.
On the other hand, Geomax, Inc., a leading Oregon-based engineering firm, will handle the project. The company hopes to tap the familiarity of Geomax when it comes to projects in Eugene City.
This massive expansion initiative will soon provide Grow Condos with more growth opportunities, eventually realizing its full potential. At this time when the cannabis industry is strongly shaping up to be one of the best industries in the US, Zallen believes that revenue growth can become exponential in no time.
Grow Condos has jumped 10.45% on Friday, closing at $0.95.