SILVERDALE, WA--(NewMediaWire - Oct 28, 2016) - CGrowth
Capital, Inc. (OTC
PINK: CGRA) (the "Company") is pleased to report initial lease
revenues from its tenant, Wildfire Cannabis, are scheduled for
posting on November 1, 2016, following a blockbuster performance
and outdoor harvest yield by its first fully licensed
tenant. Furthermore, the Company is pleased to provide
investors with a report on its latest site visit to the Company's
manufacturing and processing facility in Chewelah,
Washington. The Company is providing turnkey commercial leases
to tenants at its Washington state location where the state has
legalized cannabis. Based on initial success, expansion of
both indoor and outdoor operations is inevitable.
Bill Wright, CEO of CGrowth Capital, Inc., stated, "We have been
working on this leasing structure and relationships for over 18
months and that diligence and patience is now paying
off. While others in this new market space are spending their
time telling people what they can do, we have rolled up our sleeves
and executed on what we said we would do -- a first to
market. This is not an adventure with overnight success -- it
takes time, patience, the right relationships, and a whole lot of
work -- but we are there now and revenues will continue to build as
we expand the facilities and properties under our control."
The site visit to the property and concurrent visit with
Wildfire management revealed the following progress:
- Lease Payments Confirmed: Wildfire confirmed
that it would be paying rent beginning November 1, 2016, at an
escalated rate to account for rent accruals prior to production as
well as triple net and capital cost to the facilities.
- Property Development -- Phase I -- 80%
complete: Of the 8,000 sq. ft. initial building, 80% of
the rooms have been completed and are now operational, including
full buildout, electrical, plumbing, HVAC, and security.
- CO2 Extraction -- Phase I-B: The Company
procured two coveted CO2 oil extraction machines and will be
leasing this highly sought after equipment to its tenant -- adding
to the current revenue stream. County permits are complete and
we are awaiting state inspection and approval with
Wildfire. The Company expects this phase to be completed by
the end of November 2016.
- Property Development -- Phase II: Plans
are completed for the improvement of an existing 8,000 sq. ft.
building south of Phase I building. This building will include
primary processing and a full commercial kitchen. Work is
scheduled to begin prior to the end of the year.
- Property Development -- Phase
III: Plans are being developed for a 22,000 sq. ft.
building for extended grow rooms and overall mechanical for the
site. The Company is planning on breaking ground on this new
building in early 2017.
Additional information will be provided on further development
at the site as agreements are completed. This includes
discussions with existing tenants and additional interested
parties.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as an
alternative asset management company for businesses and assets
focused on all aspects of mining, minerals, exploration, and
commercial real estate. The processing of metal ore mining, mineral
and specialty rock extraction, as well as oil and gas production,
are multi-billion dollar market opportunities which is capitalized
on through processing, sales, contracting and licensing of assets.
CGrowth Capital's services and solutions are designed to assist
land owners with monetizing undervalued assets by bringing
commodities such as gold, silver, oil and gas, and dolomite to
market. CGrowth Capital will focus on acquiring land assets, while
also providing partners and affiliates with management services,
capital, contract management and logistical services necessary for
the successful execution of operations. Through wholly owned
subsidiaries, the Company has begun to strategically leverage real
estate assets for maximum value within newly developing industries
currently underway in Washington State and across the United
States.
For more information and updates about CGrowth Capital and its
subsidiaries, visit their websites or Facebook pages:
http://www.CGrowthCapital.com
http://CGrowthCapitalBond.com
https://www.facebook.com/CGrowthCapital
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby. The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management as well as assumptions made by and information currently
available to the Company or its management. When used in this
document, the words "anticipate," "estimate," "expect," "intend,"
"plans," "projects," and similar expressions, as they relate to the
Company or its management, are intended to identify forward-looking
statements. Such statements reflect the current view of the Company
regarding future events and are subject to certain risks,
uncertainties and assumptions, including the risks and
uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties. The
Company disclaims any obligation to update or revise any
forward-looking statements.
