Grow Solution Holdings Inc. (OTCMKTS:GRSO) has announced that it has commenced final discussions to sign a Letter of Intent to provide a customer near Smithers B.C with an 80 unit $20 million facility. The company will provide more details on the progress of the deal soon.
Agreement to provide facility part of the company’s expansion plans
The company has been expanding its operations in recent times as part of the company’s strategy to enhance its foothold in the market. Grow Solutions Chief Executive Officer Chad Fischl stated that the move is part of the company’s aggressive global expansion plans. He said that as a company, they were delighted to start a series of Strategic Partnerships and Joint Ventures in the next few weeks and coming months.
Regarding the facility near Smithers B.C, the CEO stated that currently they are still in negotiations and the processes are promising. The company will provide a detailed announcement regarding the deal in the next few days.
Equally, the company has indicated that it has completed it’s 2017 financial and expects to complete 2018 through 2019 financial in the next four weeks. This will be vital in ensuring the company is current and remove the stop sign from its symbol.
Product lease agreement with Sundance Prairie Products
In July the company announced that its subsidiary AeroGrow Manufacturing Corp had entered a “product lease and loyalty agreement” with Sundance Prairie Products Ltd. The company expects the project to begin with the manufactures and building of 32 AeroPod Units. Grow Solutions anticipates completion of the project towards the end of the second quarter of 2020.
Commenting on the project, the CEO indicated that the agreement underscored the commitment of the company has in offering investors value. He added that this was a significant step in the implementation of the company’s strategic expansion plans across the globe. The CEO indicated that the joint venture project would generate revenue close to $215 million in the next five years.
Besides AeroGrow Manufacturing, the company also runs another Wholly-owned subsidiary Pure Roots Holdings Ltd.