DENVER, Feb. 18, 2020 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), ("GrowGen" or the "Company") the largest chain of specialty retail hydroponic and organic garden centers, with currently 26 locations, is pleased to announce today that it has been added to The Cannabis ETF (NYSE: THCX) ("THCX"), which trades on the New York Stock Exchange.
"GrowGeneration's inclusion in The Cannabis ETF is another major corporate milestone and reflects the significant progress we have made growing our business. This milestone will provide the company with a new opportunity to broaden our reach and increase our profile among investors in the U.S. who are looking for the value our company provides, particularly as we continue to execute our plan." – Darren Lampert, CEO.
The Cannabis ETF – THCX:
The Cannabis ETF (THCX) is an ETF that provides investors with a liquid and diversified vehicle to gain access to the explosive growth of the legal cannabis market. THCX tracks the Innovation Labs Cannabis Index, which is a modified market capitalization-weighted index, with a portfolio of 33 stocks that are expected to benefit from growth of the legal marijuana, CBD and hemp industries. The index rebalances on a monthly basis.
About GrowGeneration Corp.:
GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 26 stores, which include 5 locations in Colorado, 5 locations in California, 2 locations in Nevada, 1 location in Washington, 4 locations in Michigan, 1 location in Rhode Island, 4 locations in Oklahoma,1 location in Oregon and 3 locations in Maine. GrowGen also operates an online superstore for cultivators, located at HeavyGardens.com. 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 states in the U.S. and Canada. 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.
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.