CO2 GRO Inc. is pleased to announce a Second CO2 Delivery Solutions(TM) Commercial Sale to a British Columbia Cultivator

Rhea-AI Summary

CO2 GRO Inc. (TSX-V:GROW, OTCQB:BLONF) reports a successful sale of its CO2 Delivery Solutions™ system to a British Columbia-based medical cannabis cultivator. This marks the second commercial installation based on data from its GROW plant science research. The system aims to enhance cannabis yields by up to 30% while providing significant cost savings on CO2. The company is well-positioned to capitalize on the growing trend of smaller cultivators, with 106 micro-cultivation licenses currently in Canada. The technology also offers pathogen protection, enhancing overall plant health.

Positive

• Second commercial sale of CO2 Delivery Solutions™ to a BC cultivator.
• Up to 30% yield enhancement reported with CO2 technology.
• Targeting growing market of micro and smaller cannabis cultivators.
• 106 micro-cultivators licensed in Canada present market opportunity.

Negative

• None.

The CO2 Delivery Solutions™ Commercial Installation purchase decision is the second based on GROW plant science data.

TORONTO, ON / ACCESSWIRE / November 24, 2020 / Toronto based CO2 GRO Inc. ("GROW") (TSX-V:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce that it has sold a CO2 Delivery Solutions™ Commercial Installation to a British Columbia based smaller cultivator for medical Cannabis licensed under the Cannabis Act. The CO2 Delivery Solutions™ system was purchased based on GROW plant science data and testimonials from other customers currently using the technology.

Micro and Smaller Cannabis Cultivator Momentum and Opportunity

GROW has established considerable success with micro and smaller Cannabis and hemp cultivators across Canada and the U.S. Growers who operate cultivation facilities under 10,000 sq. ft. of canopy. Whether indoor or smaller hoop and greenhouses, all benefit from CO2 Delivery Solutions™' with up to 30% yield enhancement and pathogen Perimeter Protection™ while realizing significant CO2 cost savings compared to atmospheric CO2 gassing. Canada currently has 106 micro-cultivation licensees who can operate facilities with up to 2150 sq. ft. of Cannabis canopy. States in the U.S. have various regulatory frameworks that accommodate smaller cultivation operations. With additional jurisdictions in the U.S. approving some form of Cannabis legalization, a November 4, 2020 Marijuana Business daily reported the changes in legislation could generate USD$2.5 billion in additional sales by 2024. GROW's CO2 Delivery Solutions™ is well positioned to benefit from these positive industry trends.

According to Aaron Archibald, GROW's VP of Sales & Strategic alliances, "We are pleased to have our second 'straight-to-Commercial Installation' sale. We are finding a receptive niche with micro and smaller Cannabis and hemp growers where our CO2 Delivery Solutions™ systems have now been proven to provide rapid financial benefits to them. These customers can also provide more referrals and testimonials to help accelerate the adoption of our aqueous CO2 technology."

Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™ or watch this video. To see a CO2 Delivery Solutions™ VCO2 system installation, watch this video.

About CO2 GRO Inc.

GROW's target markets are focused on the 50 billion square feet of global greenhouse and covered cultivation space (USDA). Atmospheric enrichment of CO2 by gassing has been practiced in indoor and expensive sealed greenhouses for decades resulting in enhance crop yields of up to 30%. However, 85% of the world's greenhouses are unsealed and have open-venting designs for heat ventilation which makes CO2 gassing uneconomical and impractical since the CO2 gas easily escapes.

GROW's CO2 Delivery Solutions™ naturally and safely dissolves CO2 gas into water creating an aqueous CO2 solution which is then misted directly on plant leaves. GROW has demonstrated its technology to be as effective as CO2 gassing by improving crop yields up to 30%, while using a fraction of the CO2 gas. The CO2 solution's micro droplets create an aqueous film around the entire leaf surface, isolating the leaf from the atmosphere. This creates a diffusion gradient favoring CO2 transport into the leaf and other gases out of the leaf. Increased carbon availability enhances photosynthesis resulting in faster and larger plant growth. CO2 Delivery Solutions™ has been demonstrated on crops including Cannabis, hemp, lettuce, kale, microgreens, peppers and flowers. In addition, aqueous CO2 misting offers pathogen Perimeter Protection™ for plants by slowing the spread of micro pathogens such as E. coli and powdery mildew. Greenhouse growers everywhere can now supplement CO2 to their crops using CO2 Delivery Solutions™, increasing plant yields and profits.

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) accepts 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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FAQ

What is the latest news about CO2 GRO Inc. and its technology?

CO2 GRO Inc. announced a second sale of its CO2 Delivery Solutions™ system to a British Columbia medical cannabis cultivator, based on successful plant science data.

How does CO2 Delivery Solutions™ impact cannabis cultivation?

The CO2 Delivery Solutions™ system can enhance cannabis yields by up to 30% while providing pathogen protection and significant cost savings on CO2.

What is the significance of micro-cultivation licenses in Canada for CO2 GRO?

With 106 micro-cultivation licenses in Canada, CO2 GRO is positioned to benefit from an increasing number of smaller cannabis cultivators adopting its technology.

How does CO2 GRO's technology differ from traditional CO2 gassing?

CO2 GRO's method involves dissolving CO2 gas in water, creating an aqueous solution that is misted directly onto plants, making it more effective for unsealed greenhouses.

What potential market growth is CO2 GRO expecting by 2024?

Changes in cannabis legislation in the U.S. could generate an additional USD $2.5 billion in sales by 2024, offering growth opportunities for CO2 GRO.