GrowLife Aims to Enter Medical Cannabis Industry
January 22nd, 2014
News, Top Story
GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys a wide array of products and services, has been actively expanding its hydroponics business and retail footprint over the past year. In addition to these products and services, the company has become an active financier within the industry through its innovative GIFT program that has secured approximately $40 million in funding.
This week, the company announced that it completed a review of its commissioned study on practical uses and most lucrative therapeutic applications for medical grade cannabis with one of the country’s premiere botanical labs – Medicus Research LLC. According to management, they are very close to completion of at least one new Joint Venture that will allow GrowLife to have a presence in one of the most compelling and perhaps profitable sections of legal cannabis.
Read the full press release here:
GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, is pleased to announce the completion and review of its commissioned study on practical uses and most lucrative therapeutic applications for medical grade cannabis with one of the country’s premiere botanical labs. GrowLife’s senior management has identified several near-term opportunities for development and partnership using the guidance from the report and which are synergistic with the Company’s core strengths and stated growth initiatives.
In 2013, GrowLife engaged Medicus Research, LLC to provide a comprehensive review of worldwide scientific literature on the therapeutic benefits of medical marijuana. Medicus Research is a premier organization engaged in clinical trials across various disciplines and is uniquely staffed to concentrate on early stage botanical drugs and the related published medical literature.
“The completed Medicus report has been invaluable to our understanding of the current state of the medical science of legal cannabis,” stated Sterling Scott, CEO, GrowLife Inc. “The data is tantamount to a geologist’s assay, providing us a guide to the lowest risk and highest probability of success in market segments for therapeutic applications. Review of the worldwide state of the science with our advisors has enabled us as planned to efficiently refine our targets for future operational expansion and Joint Venture.”
“To that end, I believe we are very close to completion of at least one new Joint Venture that will allow GrowLife to have a presence in one of the most compelling and perhaps profitable sections of legal cannabis,” added Scott. “The Medicus study provides us with a tremendous advantage. While we are not likely to make the study available to protect our proprietary interests, portions of the substantive conclusions of this work will be made available to the public from time to time through one of our official websites.”
For more information on Medicus Research visit www.medicusresearch.com
A GrowLife Investor Presentation can be viewed online at http://growlifeinc.com/growlife-presentations-october-2013/
From time to time, GrowLife will provide market updates and news via its websites GrowLifeInc.com, Cannabis.org or the Company’s Facebook page at https://www.facebook.com/tellthetruthfederalgovernment
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) develops, markets and deploys products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The Company provides these solutions in our nationwide retail network, as well as online sites Greners.com, Phototron.com and 58Hydro.com. The Company also operates the political and social forum, Cannabis.org
Cautionary Language Concerning Forward-Looking Statements
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for GrowLife’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in GrowLife’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting GrowLife, Inc. please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. GrowLife, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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