urban-gro, Inc. Awarded $9.6 Million Industrial Design-Build Contract with Existing CPG Client

Rhea-AI Summary

urban-gro, Inc. (Nasdaq: UGRO) has been awarded a $9.6 million Design-Build contract for a CPG client's project in the Southwest United States, showcasing the Company's expertise in the industrial vertical. The contract is expected to be completed over the next three quarters, reflecting the Company's commitment to service and market sector diversification.

LAFAYETTE, Colo., Nov. 30, 2023 (GLOBE NEWSWIRE) -- urban-gro, Inc. (Nasdaq: UGRO) (“urban-gro” or the “Company”), an integrated professional services and consulting firm, today announced that the Company was awarded a $9.6 million Design-Build contract. The Company anticipates that the bulk of this industrial contract for a CPG client's project in the Southwest United States will be completed over the next three quarters.

Bradley Nattrass, Chairman and CEO, commented, “We are thrilled to continue to grow this longstanding client partnership and demonstrate depth of expertise in the industrial vertical. Our focus on service and market sector diversification continues to drive opportunity for the Company across the U.S. This contract is a testament to the strength of the relationship that our team has cultivated with this client through the repeated consistent delivery of tailored project solutions and superior outcomes.”

About urban-gro, Inc.

urban-gro, Inc.^® (Nasdaq: UGRO) is an integrated professional services consulting firm delivering professional services and solutions across architecture, design, engineering, equipment integration, and construction management. Our multi-sector expertise encompasses a diverse set of projects across a host of industries such as CEA, light industrial, healthcare, hospitality, laboratories and more. Our dedicated and innovative team is fueled by a commitment to empower our clients by providing exceptional customer experiences throughout the project lifecycle and beyond, including post-operational support. With offices across North America and in Europe, we deliver Your Vision – Built. Learn more by visiting www.urban-gro.com.

Safe Harbor Statement

This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as “believes,” “will,” “expects,” “anticipates,” “may,” “projects,” "forecast" and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, future events, business strategy, future performance, impact of our platform in the marketplace, optimizing our platform, prospects, plans and objectives of management. These and other forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to successfully manage and integrate acquisitions, our ability to accurately forecast revenues and costs, competition for projects in our markets, our ability to predict and respond to new laws and governmental regulatory actions, our ability to successfully develop new and/or enhancements to our product offerings and develop a product mix to meet demand, risks related to adverse weather conditions, supply chain issues, rising interest rates, economic downturn or other factors that could cause delays or the cancellation of projects in our backlog or our ability to secure future projects, our ability to maintain favorable relationships with suppliers, risks associated with reliance on key customers and suppliers, our ability to attract and retain key personnel, results of litigation and other claims and insurance coverage issues, risks related to our information technology systems and infrastructure, our ability to maintain effective internal controls, our ability to execute on our strategic plans, our ability to achieve and maintain cost savings, the sufficiency of our liquidity and capital resources, and our ability to achieve our key initiatives for 2023, particularly our growth initiatives. A more detailed description of these and certain other factors that could affect actual results is included in the Company’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.

Investor Contacts:

Dan Droller – urban-gro, Inc.
-or-
Jeff Sonnek – ICR, Inc.
(720) 730-8160
investors@urban-gro.com

Media Contact:

Barbara Graham – urban-gro, Inc.
(720) 903-1139
media@urban-gro.com

FAQ

What is the latest contract awarded to urban-gro, Inc. (Nasdaq: UGRO)?

urban-gro, Inc. (Nasdaq: UGRO) has been awarded a $9.6 million Design-Build contract for a CPG client's project in the Southwest United States.

What is the expected timeline for the completion of the awarded contract?

The contract is anticipated to be completed over the next three quarters.

Who commented on the awarded contract and what was mentioned?

Bradley Nattrass, Chairman and CEO, commented on the contract, emphasizing the Company's focus on service and market sector diversification.

What does the awarded contract signify for urban-gro, Inc. (Nasdaq: UGRO)?

The contract demonstrates the Company's strength of relationship with the client and their consistent delivery of tailored project solutions and superior outcomes.