Legalization of Marijuana Use: The Time is Now According to Voters in Colorado and Washington State
WOODLAND HILLS, Calif., Nov. 7, 2012 /PRNewswire/ -- GrowLife Inc. (OTCBB: PHOT) (formerly known as Phototron Holdings Inc.), an innovative leader in high-end horticulture supply, today announced that it commends the full legalization of marijuana in the states of Colorado and Washington. These initiatives mark ongoing progress towards a more reasonable state and federal policy regarding the use and sale of marijuana for both medical and recreational purposes and signals further expansion of this multibillion dollar growth industry.
With Marijuana now legal in the States of Colorado and Washington for the first time in US history, this marks a watershed moment for our industry. The companies with the foresight to establish themselves early are likely to see rapidly expanding opportunities as the legalization process marches from state to state, expanding the market as it grows.
"The road to legalization of marijuana has been long and difficult," said GrowLife Inc. CEO Sterling Scott. "Despite federal drug laws remaining in place, these states have shown tremendous initiative in moving towards a more reasonable and sustainable marijuana policy that benefits the public, both in terms of reduced crime rates and greater tax revenues. The Colorado initiative is expected to provide a minimum of $40 million annually to public schools."
Public companies focused on this emerging industry are experiencing rapid expansion as the regulatory environment becomes more favorable. GrowLife Inc. (PHOT), Hemp Inc. and Medical Marijuana Inc. have all seen heightened attention in recent weeks due to the history making elections that have now been decided in favor of legalization. Now that history has been made, these companies are positioned to become even bigger leaders in this sector than they are already, and the investment community has a ready-made opportunity to ride the wave. These three exceptional companies are being run by acute business men, that while compassionate towards the needs of individuals, are keenly focused on the bottom line, and what that means to their investors.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (formerly Phototron Holding, Inc.) (www.growlifeinc.com) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include the SG line of automation equipment and hi-powered LED grow light products for indoor horticulture (www.sgsensors.com and www.stealthgrow.com), Greners.com, the online hydroponics superstore (www.greners.com) and Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment (www.phototron.com).
For more information about our public holding company, please visit www.growlifeinc.com.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in GrowLife's filings with the Securities and Exchange Commission. In addition, all industry products are subject to additional uncertainty, including the risks of delay, cancellation and poor critical or financial reception. GrowLife disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
SOURCE GrowLife, Inc.