CO2 GRO Inc. Raises $700,000 Through the Exercise of Options and Warrants

Rhea-AI Summary

CO2 GRO Inc. (OTCQB:BLONF) has successfully raised $700,000 through the exercise of 1,081,161 options and 3,850,000 warrants, resulting in the issuance of 4,931,161 common shares. The funds will enhance business development, bolster Ag Industrial partnerships, and support ongoing R&D projects. CEO John Archibald emphasized that this exercise showcases shareholder confidence in the company's growth strategy. GROW's proprietary CO2 Delivery Solutions™ technology promises up to 30% revenue growth for greenhouse growers, addressing sustainability and food security needs.

Positive

• Raised $700,000 through the exercise of options and warrants.
• Total of 4,931,161 common shares issued, increasing overall market presence.
• Funds allocated for business development and R&D projects.
• Proprietary technology could increase revenue for growers by up to 30%.

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 26, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSX-V:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce that option and warrant holders have exercised 1,081,161 options at $0.22 each together with 3,850,000 warrants at $0.12 each, raising total proceeds of $700,000. The 4,931,161 common shares being issued are not subject to any hold period. After the issuance, GROW has a total of 85,646,860 issued and outstanding common shares.

GROW will use the proceeds to increase business development activities; enhance and grow its Ag Industrial partnerships, its sales and technical force, further fund identified value creating R&D projects and for working capital and general corporate purposes.

John Archibald, CEO Of GROW commented "We are very pleased that long term shareholders have exercised warrants and options for proceeds to CO2 GRO of $700,000. We feel the exercise is an endorsement of our business plan of developing CO2 GRO into a global leader in enhanced greenhouse food production founded on our Sustainability Platform of significantly enhanced returns to growers, reduction in carbon footprints and enabling food security. We believe our Planet, People and Profits focus will generate superior returns to shareholders over the long term."

About CO2 GRO Inc.

GROW's proprietary CO2 Delivery Solutions™ technology is poised to revolutionize the global high value plant greenhouse industry. Its usage provides growers the opportunity to increase revenue by up to 30% and suppress the development of pathogens thereby reducing crop loss risks in an environmentally friendly and sustainable manner.

CO2 Delivery Solutions™ dissolves and saturates CO₂ gas into water creating a bubble-less aqueous CO₂ solution. When the solution is misted onto high value plants it increases revenue to greenhouse growers by up to 30% through a combination of larger plants and shorter crop grow time. The worldwide market for GROW's disruptive CO2 Delivery Solutions™ technology are the 50 billion square feet of greenhouses 85% of which cannot economically or optimally employ CO₂ gas to maximize revenue. GROW's CO2 Delivery Solutions™ technology now enables all greenhouse growers everywhere to maximize revenue easily with low systems capital costs and ease of systems installation into overhead misting systems.

GROW's management is moving quickly to capitalize on this world-wide opportunity by establishing marketing partner relationships internationally. Currently marketing partnerships are in place covering 14 countries with quickly growing interest from multiple other potential partners. In North America, GROW maintains regional sales representatives and support teams. GROW's CO2 Delivery Solutions™ is protected by a suite of patents and patent pending applications.

GROW's high value plant data developed through scientific research and commercial feasibilities with multiple potential customers has demonstrated the beneficial effects of CO2 Delivery Solutions™ technology on many high value plants including peppers, lettuce, strawberries, microgreens, kale, Cannabis, hemp, roses and orchids.

GROW's CO2 Delivery Solutions™ technology is environmentally friendly, sustainable, provides for crops grown to be certified as organic and supports locally grown food minimizing the risk associated with extended global food supply chains.

Our organization is committed to fostering and maintaining an inclusive respectful environment providing equal opportunities at all levels to people of different genders, nationalities, and age and educational background with a focus on values that align with our corporate culture.

GROW is conscious of the environment, our impact on it and also for the health and welfare of our staff, our clients, partners and stakeholders. We support the best practices for the COVID-19 pandemic and have revisited our previous procedures for sales and business development. Further, GROW's CO2 Delivery Solutions™ technology does not pose any health and safety risks to employees.

As a global organization, GROW is committed to good Environment, Social and Governance ("ESG") practices and we do so wherever possible to ensure we are an employer of choice and opportunity. Our mission is to accelerate the growth of all value plants safely, economically and naturally using our patented advanced CO2 Delivery Solutions™

We do well for the planet, the people we work with who benefit from our solutions and create profits for our shareholders, clients, partners and value in the long term.

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 was the total amount raised by CO2 GRO Inc. through options and warrants exercise?

CO2 GRO Inc. raised a total of $700,000 by exercising options and warrants.

How many common shares were issued after the exercise of options and warrants?

A total of 4,931,161 common shares were issued following the exercise.

What is the significance of the funds raised for CO2 GRO Inc.?

The funds will be used to enhance business development, Ag Industrial partnerships, and R&D projects.

What is CO2 GRO Inc.'s technology and its benefits?

CO2 GRO Inc.'s CO2 Delivery Solutions™ technology can increase greenhouse growers' revenue by up to 30%.