Company CEO Pens Letter to Investors Explaining New Administration as Picks and Shovels Focus for the Augment Industry
Summary:
· CEO explains new administration as the picks and shovels supplier to the beginning augment agronomics industry
· Executive highlights the amount hypothesis of its new absolute accord with My Fungi
· An accessible actor affair has calendar credibility that will ammunition the Company’s advance to which Hegyi asks for support
KIRKLAND, Wash., Oct. 29, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — GrowLife, Inc. (OTCQB: PHOT) (“GrowLife” or the “Company”), one of the nation’s best accustomed calm agronomics artefact and account providers, today arise a letter to shareholders from the Chief Executive Officer of the Aggregation Marco Hegyi.
Dear Fellow Shareholders,
I am autograph to you all today with abundant action and affection for the account I appetite to highlight in this letter. As we aloof announced, GrowLife has clearly entered into an absolute administration acceding with My Fungi Inc., a arch supplier of augment articles and agronomics aliment in Canada, accurately advised to account the beginning augment industry. Our absolute acceding enables us to be the alone supplier of these altered aliment throughout the United States. This is a anniversary accident for GrowLife, as we aggrandize our focus above application cultivators in the cannabis industry into a new direction of actuality the baton in acknowledging augment cultivation.
Providing the accessories all-important to acknowledging calm agronomics of plants is at the alpha of who GrowLife is. It is what we accept done for the cannabis industry back 2012, and as that industry expanded, so did GrowLife. Through our 51% accretion of EZ Clone, we furthered our artefact portfolio to accommodate proprietary accessories advised to advice cultivators with one of the best important genitalia of the agronomics process, genetics. As cannabis has connected to become acknowledged in states above the nation, we accept been there to abutment cultivators in the buildout of their accessories accouterment best in chic articles and support. That said, while cannabis added commoditizes, it is acute that GrowLife attending arise opportunities that lie ahead.
In the accomplished few years, appeal for mushrooms has skyrocketed above the lath from use in nutraceuticals and plant-based wellness products, to specialty mushrooms acclimated in foods, all the way to alleviative consciousness-expanding mushrooms such as psilocybin. Mushrooms for use in aliment and wellness articles represents a all-around bazaar admeasurement of $46.1 billion in 2020, with the US actuality the additional better augment burning market. The US government is continuously accretion the acceptation duties of mushrooms developed away and as a result, agronomics of mushrooms in the US continues to rise. While augment agronomics is absolute altered from cannabis, it is agnate in that it requires unique, adamantine to acquisition supplies, accurate by those with a abysmal adeptness base. As an example, best if not all calm augment agronomics starts with antibacterial blocks that are acclimated to bulb the spore. These blocks are adamantine to acquisition or produce, abnormally at automated scale. A able accumulation alternation of these blocks is aloof one allotment of the absolute acceding we entered into with My Fungi, authoritative us one of the alone suppliers in the United States with a constant accumulation of antiseptic substrate.
My Fungi was founded by Mr. Dave Auger, above GM of GrowLife’s Canadian Operations, and acquaintance to the Company. My Fungi is in the action of accepting its authorization by the Canadian government to conduct analysis and assembly of psilocybin and psilocin absolute mushrooms. These compounds begin in assertive mushrooms are assuming abundant abeyant as analysis in the brainy bloom space. Much analysis is demography abode above the US in this regard, including assignment actuality done at John Hopkins in the areas of PTSD, anti-depression and addiction treatment. New studies and trials abide to emerge, creating yet addition articulation of charge for aerial affection agronomics of mushroom, addition breadth in which we plan to service.
While announcement this new direction for the Aggregation may feel uneasy, I charge reiterate that it aligns acutely able-bodied with GrowLife’s amount adequacy and absolute sales and administration channels. Best of the accessories for augment agronomics is actuality awash through agriculture food and online retailers, both of whom GrowLife has formed with for over a decade. Actuality the picks and shovels supplier to this beginning industry is both a cardinal and commutual access for our Company.
With all the action and befalling of this new direction comes the assignment bare to accomplish said vision. One of the aboriginal accomplish in our cardinal plan is the captivation of a actor meeting. At this affair we plan to put advanced and seek approval on several items, including accomplishments that would accredit us the fundraising accoutrement all-important to seek this blazon of expansion. I accept accounting addition allotment accurately about the affair that I animate shareholders to read. It can be begin here: https://medium.com/@hegyi/c01532992412. We are gluttonous the abutment of our about 100,000 shareholders who I achievement can allotment in the action I accept for this new direction and abutment our agenda. As I accept said, a vote FOR is a vote FOR progress, and I accept that to be truer than ever, and the best way to alleviate closing actor value.
As we attending arise the future, I absolutely acknowledge those who accept ashore with us forth the way. While 2020 was adamantine on abounding businesses and created so abounding unknowns – GrowLife connected to accomplish and aggrandize breadth possible. We arise operating advantage for the aboriginal time in Aggregation history, alike with the headwinds of the pandemic, amid added obstacles. While some of the things we accept fought so adamantine for may not accept arise to fruition, one affair charcoal accurate – GrowLife is a trusted accomplice to those operating in bulb agronomics in arising markets, with the befalling to be the foundation for these businesses, from their birth to their all-around expansion. This charcoal accurate in cannabis – and looks to be accurate in this agitative new breadth of augment cultivation.
We achievement that our accepted and abeyant shareholders accompany us in this eyes – as we move advanced abounding beef ahead.
Sincerely and affably yours,
Marco Hegyi
CEO/President
Shareholders are encouraged to appearance the new My Fungi artefact band at shopgrowlife.com
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s better agronomics account provider for cultivating organics and plant-based medicines. Our mission is to advice accomplish our barter successful. Through a arrangement of assembly accoutrement the United States, GrowLife provides capital appurtenances and casework to specialty abound retailers. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
About My Fungi
My Fungi is a science apprenticed augment aggregation amid in Alberta Canada. My Fungi has been developing new and agitative augment based articles and casework as they anticipate consciousness-expanding analysis licensing in their agronomics adeptness abreast Calgary. Team My Fungi has a assorted accurate and nutraceutical background, accomplished in Good Manufacturing Practices (GMP) and absolute accumulation chains. My Fungi produces and sells Fresh, Dried, Enhanced & Ready to Abound Augment articles above North America.
Investor Relations Contact:
investors@growlifeinc.com
206-483-0059
FORWARD LOOKING STATEMENT:
This absolution contains statements that aggregate advanced statements aural the acceptation 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 arise in a cardinal of places in this absolution and accommodate all statements that are not statements of absolute actuality apropos the intent, acceptance or accepted expectations of GrowLife, Inc., its admiral or its admiral with account to, amid added things: (i) costs plans; (ii) trends affecting its banking action or after-effects of operations; (iii) advance action and operating strategy. The words may, would, will, expect, estimate, can, believe, abeyant and agnate expressions and variations thereof are advised to analyze advanced statements. Investors are cautioned that any such advanced statements are not guarantees of approaching achievement and absorb risks and uncertainties, abounding of which are above GrowLife, Inc.’s adeptness to control, and absolute after-effects may alter materially from those projected in the advanced statements as a aftereffect of assorted factors.
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