CO2 GRO Inc. Announces a Commercial Installation Sale of CO2 Delivery Solutions(TM) to Golden Peak Cannabis

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) has completed a commercial installation sale of its CO2 Delivery Solutions™ technology to Golden Peak Cannabis. This follows a nine-month feasibility assessment revealing effective CO2 enhancement, leading to expected yields and reduced production costs. Golden Peak's CEO noted negligible operating costs and protection from crop diseases. CO2 GRO aims for international expansion, leveraging the $50 billion greenhouse market.

Positive

• Successful commercial installation sale of CO2 Delivery Solutions to Golden Peak.
• Positive results from the feasibility assessment, confirming expected yields and reduced production costs.
• CEO of Golden Peak reported negligible operating costs and effectiveness in disease protection.

Negative

• None.

Golden Peak has Conducted a Commercial Feasibility for the Past Nine Months and Has Decided to Expand the Technology to Additional Rooms

TORONTO, ON / ACCESSWIRE / May 11, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW)(OTCQB:BLONF)(FRA:4021) is pleased to announce the commercial installation sale of a CO2 Delivery Solutions™ system to Golden Peak Cannabis ("Golden Peak"), a New Brunswick based licensed cultivator. On August 19, 2020, GROW announced a commercial feasibility with then unnamed Golden Peak to assess the impact of CO2 Delivery Solutions™ in a vegetative and flowering room (see news release dated August 19, 2020).

Tom Devost, President & CEO of Golden Peak commented, "We have been very impressed with the performance of CO2 Delivery Solutions™. Our yields are as expected with additional CO₂ and our plants have been protected from powdery mildew. The operating costs of CO₂ and power are negligible which has helped us reduce our overall production cost per gram. We look forward to expanding to additional rooms as we grow over the coming months."

Aaron Archibald, VP Sales & Strategic Alliances commented, "We are thrilled to announce another sale of a CO2 Delivery Solutions™ system, this time to Golden Peak. CO2 GRO would like to take this opportunity to thank Tom for his continued support of our technology as a reference to other prospective customers. Having our customers as advocates gives us great satisfaction and confidence that we are on the right path to success."

About Golden Peaks (Golden Peak Cannabis)

We are a family-owned craft cannabis farm focused on farming the highest quality craft cannabis flower on the market. The People at Golden Peak are all about farming cannabis using organic farming methods. We farm cannabis in organically certified Adonis Living Soil™ and work hard to create a healthy ecosystem for our plants. Our mission is to leverage the passion of our team to grow the highest quality cannabis in the marketplace using organic and socially responsible methods.

About CO2 GRO Inc.

GROW's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2018). We create a saturated CO₂ solution that when misted onto plants provides growers that cannot gas with CO₂ the opportunity to increase plant yields by up to 30% and profits by up to 100%. Applying saturated CO₂ also suppressed the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses. GROW's CO2 Delivery Solutions™ is protected by a suite of patents and patents pending.

The worldwide market for GROW's disruptive CO2 Delivery Solutions™ technology is 50 billion square feet of greenhouses and 550 billion square feet of protected agriculture facilities (Cuesta Roble 2018). Growers can maximize revenue and profits with our systems' low fixed and variable costs and ease of systems installation.

GROW's management is rapidly expanding its international marketing partner relationships into the EU, the UK, South Africa, the Middle East, South East Asia and Latin America as well as in its North American base.

GROW is committed to good Environment, Social and Governance (ES&G) policy and practices. We are an equal opportunity employer of choice and opportunity.

Our mission is to accelerate the growth of all value plants safely, economically, naturally and sustainably using our patented advanced CO2 Delivery Solutions™ while accreting value to our customers, stakeholders and shareholders.

Forward-Looking Statements

This press release contains statements which constitute "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward‐ looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: statements regarding the future direction of the Company; the ability of the Company to successfully achieve its business and financial objectives; plans for expansion and the ability of the Company to obtain, develop and foster its business relationships; and expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward‐looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates that management considered reasonable at the date the statements are made. Such assumptions include but are not limited to: general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and technology offered by the Company's competitors; and that good relationships with business partners will be maintained. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the biotechnology industry and the greenhouse growers market are highly competitive, and technical advances in the industry will impact the success of the Company, and other risks described in the Company's filings that are available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For more information, please visit www.co2gro.ca or contact Michael O'Connor, Investor Relations Manager at 604-317-6197 or michael.oconnor@co2gro.ca

SOURCE: CO2 Gro Inc.

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https://www.accesswire.com/646332/CO2-GRO-Inc-Announces-a-Commercial-Installation-Sale-of-CO2-Delivery-SolutionsTM-to-Golden-Peak-Cannabis

FAQ

What recent announcement did CO2 GRO Inc. make regarding Golden Peak Cannabis?

CO2 GRO announced a commercial installation sale of its CO2 Delivery Solutions™ to Golden Peak Cannabis.

How does CO2 Delivery Solutions™ impact cannabis cultivation?

The technology enhances yields by up to 30% and reduces crop losses due to diseases like powdery mildew.

What are the benefits reported by Golden Peak Cannabis after using CO2 Delivery Solutions™?

Golden Peak reported expected yields, reduced production costs, and negligible operating costs.

What is the market potential for CO2 GRO Inc.'s technology?

The market for CO2 GRO's technology is estimated at $50 billion in greenhouse operations.

What is CO2 GRO Inc.'s stock symbol?

The stock symbol for CO2 GRO Inc. is BLONF.