CGrowth Capital Provides Business Update and Strategic Planning
Rhea-AI Summary
On August 18, 2021, CGrowth Capital, Inc. (OTC Pink: CGRA) announced strategic updates regarding its cannabis facility in Washington and the launch of its NutriLife CBD business. The company is pursuing funding for its expansion and aims to produce Delta-8 products, which are federally legal under the 2018 Farm Bill. As part of a streamlining strategy, CGRA plans to divest non-performing assets to reduce debt and facilitate efficient auditing, aiming for uplisting to a fully reporting status. Further updates will follow as arrangements are finalized.
Positive
- Focus on expanding cannabis facility and launching NutriLife CBD.
- Plans to produce federally legal Delta-8 products.
- Strategic divestment of non-performing assets to reduce debt.
Negative
- None.
News Market Reaction – CGRA
In the trading session that priced this news, CGRA declined 15.79%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BREMERTON, WA, Aug. 18, 2021 (GLOBE NEWSWIRE) -- CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company"), an alternative asset management and emerging growth markets company, is pleased to update the market on current events and strategic planning.
The Company continues to stay focused on expansion plans of its Washington state cannabis facility, securing necessary growth funding, and making progress on its’ NutriLife CBD business launch. Towards that end, the Company included in its business development plans the inclusion of strategic partners and the production of Delta-8 products. Delta-8 is a naturally occurring cannabinoid and derived from hemp, but unlike Delta-9 (THC), it is legalized in the 2018 Farm Bill and it is not prohibited under federal law.
In addition to pressing forward on cannabis and hemp initiatives, the Company, as part of a strategy to streamline, will be working to divest certain balance sheet neutral assets that have limited our ability to complete audits and position ourselves for uplisting to a fully reporting company. With that in mind, certain non-performing foreign and domestic assets will be divested to reduce our overall debt load and exposure to market fluctuation. The moves will pave the way for efficient auditing and reporting. Further details will be provided as final decisions and arrangements have been made.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as an alternative asset management company for businesses and assets focused on all aspects of mining, minerals, exploration, commercial real estate, and emerging markets. The processing of metal ore mining and oil and gas production are multi-billion-dollar market opportunities which is capitalized on through processing, sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist landowners with monetizing undervalued assets by bringing commodities such as gold, silver, and oil and gas to market. CGrowth Capital will focus on acquiring land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of operations. Through wholly owned subsidiaries, the Company has begun to strategically leverage real estate assets for maximum value within newly developing industries currently underway in Washington State and across the United States, including that in the cannabis and hemp markets.
For more information and updates about CGrowth Capital, visit their website or follow us on Twitter:
http://www.CGrowthCapital.com
https://twitter.com/CGRAOTC
Investor Inquiries:
CGrowth Capital, Inc.
info@CGrowthCapital.com
Safe Harbor
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
