Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - GROWLIFE, INC. | phot_8k.htm |
| EX-10.1 - SECURITIES PURCHASE AGREEMENT - GROWLIFE, INC. | phot_ex101.htm |
Exhibit 99.1
GrowLife, Inc. Secures Equity Financing Enabling Continued Growth
and Expansion
Leading Cultivation Service Provider Secures Equity Financing Deal,
Signaling Strong Confidence from Investment Partners
KIRKLAND, Wash. --
GrowLife, Inc. (OTCBB: PHOT)
(“GrowLife”), one of the nation’s most recognized
indoor cultivation service providers, today announced that it
closed an equity financing deal with longtime institutional
investor Chicago Venture Partners (“CVP”), a leading
provider of capital to emerging and growth-stage small cap
companies, on February 9, 2018. The terms of the deal include CVP
purchasing shares of common stock priced at $0.021 per share, 15%
above the trailing five-day average at $0.021 per share.
Additionally, as a part of the deal, the Company issued warrants to
purchase stock to CVP that were priced at $.05 per
share.
“This investment of capital provides GrowLife with greater
opportunities in marketing, sales and product development during
what we believe is the most important year in the history of our
company and industry,” said Marco Hegyi, CEO of GrowLife,
Inc. “It is extremely exciting to have a long-term investor
such as CVP who truly understands the potential of the Company and
our strategy and believes in it so much that they were willing to
invest at a premium price. Our 2018 growth strategy is in full
swing and this deal will propel our efforts forward in our mission
to capture a large market share of the emerging indoor cannabis
cultivation market.”
For more information about GrowLife, Inc. please visit the
company’s
website.
Products can be purchased at
GrowLifeEco.com.
Additional
commentary on the Company and the industry as a whole can be found
on the CEO’s
blog.
For further information on this financing activity, please
reference the 8-K filed with the OTC.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the
nation’s largest cultivation service provider for cultivating
organics, herbs and greens and plant-based medicines. Our mission
is to help make our customers successful. Through a network of
local representatives covering the United States and Canada,
regional centers and its e-Commerce team, GrowLife provides
essential goods and services including media, industry-leading
hydroponics and soil, plant nutrients, and thousands more products
to specialty grow operations. GrowLife is headquartered in
Kirkland, Washington and was founded in 2012.
Public Relations Contact:
Cassandra Dowell
CMW Media
P: 858-264-6600
cassandra@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
info@growlifinc.com