GrowLife Adds Two New Members to Board of Directors Appointees Bring Wealth of Experience, Relationships to the Company
WOODLAND HILLS, Calif., Dec. 26, 2013 /PRNewswire/ -- GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which 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, is pleased to announce that the Company has added two new members to its Board of Directors.
Joining the GrowLife Board of Directors and filling Board seats provided to CANX USA LLC via the recently announced Joint Venture and capital pledge of up to $40 million U.S. for acquisitions, growth capital, and its GIFT program are Jeff Giarraputo and Anthony Ciabattoni.
"The infusion of intellectual capital provided by these Board members further strengthens the governance and leadership necessary to manage GrowLife's expansion goals into the most lucrative aspects of the legal cannabis market," stated Sterling Scott, Chief Executive Officer, GrowLife Inc. "Each of these accomplished gentlemen brings expertise to our Company, specifically in the areas of consumer lifestyle and scaling up enterprises, which will enable us to implement and execute our business model. We are most pleased by their addition."
More on the new members of the GrowLife Board of Directors:
In 1996, Mr. Giarraputo co-founded the global advertising agency Factory Design Labs, now the visionary leader in customer creation for culture-driven lifestyle brands such as The North Face and Oakley. Factory has offices in Denver, USA, Shanghai, China and Verbier, Switzerland. In 2004, Mr. Giarraputo co-founded Beatport, the largest music store for DJs in the world. Beatport was privately held and headquartered in Denver, USA and Berlin, Germany until it was acquired in 2013.
Mr. Giarraputo consults with a number of private equity companies and serves as an advisor and board member. He is also an investor and mentor in several start-ups and later stage companies.
Anthony J. Ciabattoni has an entrepreneurial background that includes the formation, growth and eventual sale of three successful start-up companies. Mr. Ciabattoni manages a diverse investment portfolio with assets ranging from real estate, satellite communications, and software. Mr. Ciabattoni's business background includes sales and marketing management positions with two Fortune 150 companies.
The Company has also accepted the resignation of Justin Manns from the Board. GrowLife is grateful for his invaluable service.
More on the CANX USA LLC Joint Venture: http://yhoo.it/1fzRcaV
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
For a GrowLife Investor Presentation visit: http://growlifeinc.com/wp-content/uploads/2013/05/PHOT-DECK-4_30_13.pdf
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 RockyMountainHydro.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.
Investor Relations Contact:
Kurt Divich (702) 396-1000
SOURCE GrowLife, Inc.