GreenGro Technologies, Inc. (OTC Pink: GRNH), an established provider of eco-friendly green technologies for the industrial hemp and cannabis industries, has announced it will resume the build-out of its cannabis dispensary located in Cathedral City following the city’s recent approval of conditional use permits for its manufacturing, distribution and delivery licenses. The new Cathedral City facility will be a part of the company’s regional expansion strategy across Southern California.
The Cathedral City dispensary will also be home to the Company’s Genobreeding Division, an advanced GreenGro initiative designed to commercialize an evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.
“The expected grand opening of our Cathedral City project in the first quarter of next year will officially represent the last and final key of our strategic restructuring plan, which is already contributing to our improving financial results,” said Robert Martinez, Chief Executive Officer of Cannabis Ventures, a wholly owned division of GreenGro Technologies, Inc.
The company noted that the construction timeline for this dispensary was severely impacted by a number of unforeseen factors ranging from contractor changes to the COVID-19 pandemic. However, with construction expected to be completed by the end of this fiscal year, the company expects to begin realizing its return on its nearly $4.3 million investment into this project beginning in the first quarter of 2022.
