GrowGeneration and Alliance Biologics Enter Into Exclusive Product, Research and Development Agreement
GrowGeneration Set to Develop Fertilizers, Nutrients, and other Additives to Increase Yields at a Lower Cost to the Growers
DENVER, CO, April 4, 2018 /PRNewswire/ - GrowGeneration Corp. (OTCQX:GRWG), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening store chains announced today that the company has entered into an exclusive product development, research, and distribution agreement to exclusively sell a complete line of specialty products and powder fertilizers that enhance plant health and yields. Alliance, The Roots of Success led by Dr. Jorge Vivanco, has developed a line of specialty products that include soil microbials and high-quality powder-based fertilizers.
GrowGen will begin to sell the Alliance Biologics to all Hydroponic stores throughout the US and Canada starting in Q2 2018.
Alliance Biologics is the first product engineered and produced for GrowGeneration. Alliance Biologics is a synergistic blend of beneficial plant growth-promoting bacteria (PGPB). Bacilli are natural members of the soil community and form spores for improved resistance under harsh environmental conditions. Bacillus amyloliquefaciens lives symbiotically in the plant root zone and promotes root growth and enhances P availability. Bacillus subtilis increases plant growth in
combination with normal fertilization regimens. Bacillus pumilus increases nutrient availability and plant growth by producing extracellular enzymes that free bound nutrients in growth substrate. Together, these microbes form a powerful ALLIANCE to give you more robust plants and increased yields. Because Alliance Biologics is manufactured as long-lived resistant spores form containing a spore germination inhibitor, our product has the longest shelf life on the market (at least 2 years). Our product will not change color and the microbes will not consume the other nutrients in the container.
GrowGen CEO Comments:
Commenting on GrowGen's Exclusive Distribution Agreement with Alliance Biologics, Darren Lampert, Co-Founder and CEO, said, "GrowGeneration aims to help growers maximize the health of their soils and to enhance plant health and yields. Our company is committed to developing and securing the rights to proprietary processes and products that can enhance our growers yields and overall health of their plants. Our exclusive product/ research and development agreement, with Alliance Biologics, led by Dr. Jorge Vivanco, provides GrowGen with a proven team of product developers who have worked globally with large agricultural companies."
Alliance Biologics Jorge Vivanco Ph.D. Comments
Commenting on GrowGen's Exclusive Product/ Research and Development Agreement with Alliance Biologics, Dr. Vivanco, said, "Our development and distribution strategy is to partner with GrowGen, who is well positioned to reach our targeted growers for our products. We are committed to bring quality and cost-effective products to the market. GrowGen's ability to educate growers about the benefits of Living Biologics, along with their distribution, logistics and sales infrastructure, in the hydroponic channels, made them a great choice for us to partner with to develop and sell to the commercial growers."
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 15 stores, which includes 8 locations in Colorado, 3 locations in California, 2 locations in Las Vegas, 1 location in Washington and 1 location in Rhode Island. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
About Alliance, The Roots of Success
Alliance, The Roots of Success (www.allianceroots.com) is a Colorado-based company specialized in creating the next generation of specialty products for intensive and high value crops. Products include biological soil amendment's using proven beneficial microbes and particular blends of those biologicals. Other products in the current pipeline are food for microbes and roots, together with high quality powder fertilizers that will revolutionize the indoor market. The company is led by Dr. Jorge Vivanco, a horticulture professor at Colorado State University and agricultural consultant with over 20 years of experience working on topics such as root-microbe interactions, soil heath, microbiological fermentation and commercial agriculture.
Forward Looking Statements:
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com.
Released April 4, 2018