urban-gro Archives - Green Market Report

Debra BorchardtOctober 14, 2022
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5min48030

As the hydroponics industry has contracted, urban-gro, Inc. (Nasdaq: UGRO) has found other ways to grow. After the market closed on Thursday,  urban-gro announced it signed a binding letter of intent (LOI) to acquire Texas-based engineering firm Dawson Van Orden, Inc. (DVO) in a deal valued at $7.25 million. The accretive deal is expected to close in the fourth quarter of 2022. DVO generated approximately $5.5 million of revenue and greater than 20% EBITDA in the trailing twelve-month period that ended September 30, 2022.

DVO is said to have significant experience in  Controlled Environment Agriculture or CEA. Urban-gro also described DVO as having mechanical, electrical, and plumbing engineering services. In addition, the company will add fire protection engineering expertise and further urban-gro’s industrial architecture capabilities. Urban-gro said the enhancement of these offerings is expected to create new opportunities, as well as build upon DVO’s existing contracts and clients in the indoor CEA and industrial sectors.

“The addition of DVO represents an extraordinary opportunity to add depth and breadth of indoor CEA engineering expertise to our professional services offering,” said CEO Bradley Nattrass. “While this accretive and synergistic transaction increases our professional services revenues and margins along with future opportunities to leverage their existing clients, it also immediately adds a deep bench of talent and an engineering leadership structure to scale and meet the rising demand for our turnkey design build solutions. Furthermore, I’m excited about the opportunity to continue strengthening our presence in Texas, as we expect the state to be an influential future business opportunity as Cannabis legalization is considered.”

Urban-gro said it will fund the $7.25 million transaction, which includes a contingent consideration of up to $1.1 million paid in cash or equity at the company’s discretion, through a combination of $1.3 million in cash, a seller’s note of $3.8 million paid out over four quarters, and $1.1 million of UGRO common stock at a pre-set price of $4 per share.

Emerald Acquisition

The DVO acquisition follows the acquisition of Emerald Construction Management in the second quarter. That deal positioned urban-gro for a full turnkey design-build solution where the company provides a single point of responsibility, and manages architecture, engineering, cultivation design, construction, as well as equipment procurement and integration.  urban-gro’s leading, in-house professional services team provides design-build solutions for cultivation facilities, retail dispensaries, and various building types within the industrial and healthcare sectors.

The company said in a statement earlier this week that the incremental design-build contracts represent more than $50 million of signed projects in the third quarter and are from a diverse set of clients including cannabis CEA clients, as well as leading global consumer packaged goods enterprises.  Design-build contracts are typically recognized over a timeline of 6 to 24 months and are separate from any associated professional services or equipment system orders.

Nattrass said, “Client interest and engagement in our turnkey design-build capabilities have continued to progress as expected, and these new contracts demonstrate tangible value for urban-gro and our clients. While we are reiterating our third quarter guidance, the momentum we have established entering the fourth quarter gives me great confidence that the investments we are making in the business are positioning urban-gro for sustainable and consistent global growth over the long-term.”


StaffMay 10, 2022
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3min43150

Urban-gro (Nasdaq: UGRO) reported first-quarter financial results with revenue rising to $21.1 million versus $12.0 million in the prior-year period, representing an increase of $9.1 million, or 76%. This beat the Yahoo Finance average analyst estimate for revenue of $19 million.

Urban-gro attributed the growth to an increase in the specification, procurement, and integration of cultivation equipment tied to the growth of new and existing project contracts, as well as $3.4 million of incremental services revenue from acquisitions. Organic revenue growth was 48%, excluding the contribution from the 2WR+ acquisition.

The net loss was $(0.7) million, or $(0.07) per share, in the first quarter of 2022, as compared to a net loss of $(1.6) million, or a net loss per share of $(0.20), in the prior year period, representing an improvement of $0.9 million, or $0.13 per share. However, the earnings did miss the estimate for $(0.05).

Bradley Nattrass, Chairman, and CEO, said, “We are off to a strong start in 2022, reflected by our record first-quarter results, which continues to demonstrate our ability to drive unparalleled value for our clients through our full suite of in-house service offerings. We grew our revenue 75% on a year-over-year basis and continued to deliver positive Adjusted EBITDA while simultaneously making key investments that are geared toward driving long-term growth and enhancing shareholder value.”

Looking Ahead

As of March 31, 2022, the total backlog was $22 million, comprised of an equipment backlog of $16 million and a services backlog of $6 million. Urban-gro affirmed its 2022 revenue guidance of greater than $110 million and Adjusted EBITDA guidance of greater than $5.0 million, including partial year contribution from the acquisition of Emerald C.M. Inc.

Mr. Nattrass added, “I am very excited about the addition of construction management services to our platform following the Emerald C.M. acquisition. This completes our vision to create a turnkey design-build company with a full suite of capabilities and the requisite depth in indoor CEA expertise to drive value for our clients throughout the project lifecycle. Furthermore, while Emerald C.M. bolsters our project pipeline, our robust set of capabilities creates opportunities for diversification both in terms of revenue streams and industries beyond CEA. urban-gro is a formidable force with a focused strategy to deliver our value-added design, engineering, procurement, and construction management services through offering a bespoke design-build client solutions with a single point of responsibility.”


Debra BorchardtMarch 29, 2022
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5min2300

Urban-gro, Inc. (Nasdaq: UGRO) reported its fourth-quarter and full-year financial results, plus the company provided full-year 2022 guidance. Revenue was $19.0 million in the fourth quarter of 2021 versus $9.2 million in the prior-year period, representing an increase of $9.7 million, or 106%. It beat the analyst estimate for revenue of $18.8 million by Yahoo Finance. Urban-gro attributed the increase to a jump in cultivation equipment sales tied to an expansion in client base and incremental services revenue from acquisitions of $2.7 million.

The company reported a net loss of ($0.6) million, or ($0.06) per share, in the fourth quarter of 2021 versus a net loss of ($1.1) million, or a net loss per share of ($0.24), in the prior-year period, representing an increase of $0.5 million, or $0.18 per share. It missed the analyst estimate for a net loss of ($0.04) cents per share. The adjusted EBITDA was $0.5 million in the fourth quarter of 2021, compared to $0.2 million in the prior-year period. The increase in Adjusted EBITDA was driven by growth in revenues and gross profit, including the contribution from the acquisition of 2WR, and partially offset by increased operating expenses which include the Company’s ongoing investment to support its European expansion.

Full Year Results

Revenue was $62.1 million for the 2021 full year compared to $25.8 million in the prior year, representing an increase of $36.3 million, or 140%. this also topped the company’s own guidance for the year. The net loss was ($0.9) million, or $0.09 per share, for the 2021 full year compared to a net loss of ($5.1) million, or ($1.06) per share, in the prior year, representing an increase of $4.2 million, or $0.97 per share. The increase in net income was driven by properly capitalizing the company so management could effectively execute the strategic plan which is built on a high-margin services platform, which smoothly converts to the design, procurement, integration, and commissioning of equipment systems.

“I am thrilled about our strong fourth-quarter results, which capped off a record full-year performance for urban-gro,” said Bradley Nattrass, Chairman, and CEO. “In 2021, we more than doubled the company from a revenue perspective, achieved positive Adjusted EBITDA, built our backlog to record levels, and expanded our integrated service model with the strategic acquisition of the architect firm, 2WR. Building upon that momentum entering 2022, earlier this month we announced the pending acquisition of Emerald Construction, which adds an accretive and highly complementary CEA-experienced construction management services solution to our offering and further optimizes our in-house capabilities to provide complete design-built facilities to our clients. With these additional capabilities, we are in an ideal position to accelerate our momentum in the global CEA industry while simultaneously enhancing shareholder value.”

2022 Outlook

Urban-Gro gave full year revenue guidance for 2022 of at least $110 million, including urban-gro’s base revenue as well as revenue for partial year contribution from our pending Emerald acquisition. The 2022 full-year Adjusted EBITDA guidance of greater than $5 million, which includes a partial year contribution from the expected Emerald acquisition.

On March 14, 2022, the company announced the acquisition of Emerald Construction Management, Inc.  The acquisition further extends urban-gro’s services into early-stage conceptual design and planning, and it creates the industry’s first fully-integrated architecture-led design-build offering targeting the cannabis and food-focused CEA sectors. The company expects the transaction to be accretive to earnings within the first year and drive significant waterfall revenue opportunities for urban-gro’s existing suite of products and services.

Mr. Nattrass added, “I’m very excited to see what lies ahead for urban-gro. Our strong balance sheet and positive cash flow gives us the flexibility to diversify our revenue streams and pursue profitable growth opportunities. Furthermore, our differentiated set of capabilities puts us in an optimal position to generate opportunities across all geographies, crops, and equipment types and cement our footprint in the burgeoning $17 billion global vertical farming market.”


StaffMarch 14, 2022
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4min42000

urban-gro, Inc. (Nasdaq: UGRO)  reported it is buying Emerald Construction Management Inc. in a deal valued at $7 million. Emerald is a 37-year old Colorado-based construction management firm providing comprehensive construction and supervisory services, from initial design through final build-out. Emerald C.M. said it expects 2021 revenues of $26.5 million and adjusted EBITDA of $1.2 million.

“The Emerald C.M. acquisition represents an important step in our strategy to supply the global indoor CEA market with turn-key design-built facilities,” said Bradley Nattrass, Chairman and CEO of urban-gro. “The market for mid-sized turn-key cultivation facilities and vertical farms is underserved, providing urban-gro a unique opportunity to bring the expertise and experience that is needed to deliver high-performance facilities. This acquisition enables us to get our clients to market more quickly while maintaining elite service levels.”

The total purchase price for the transaction, inclusive of a maximum $2.0 million contingent earnout, is $7.0 million. Urban-gro said it will fund the transaction with a combination of $2.5 million in cash and up to $4.5 million in equity. The transaction is expected to close within 60 days, pending successful completion of due diligence, and the Company expects the acquisition to be immediately accretive to earnings in 2022.

Nattrass continued, “Beyond completing our turn-key strategy, the addition of Emerald C.M.’s contracts and project pipeline provides us with incremental opportunities to generate significant waterfall revenue by providing our current services and equipment solutions to Emerald C.M.’s existing clients. Coupled with our strong balance sheet and positive cash flow, we are in an ideal position to build upon our momentum in the global CEA industry while simultaneously enhancing shareholder value.”

Jim Dennedy, President and COO of urban-gro, added, “Today, many controlled environment agriculture companies are served by a variety of providers, many of which lack the depth in human resources, systems maturity, and financial stability to satisfy the requirements that are inherent in large and complex construction projects. The acquisition of Emerald C.M. not only strengthens our capabilities and services offerings, but also enables us to provide our clients with a single point of accountability to manage their project needs.”

Christopher Cullens, CEO of Emerald C.M., concluded, “This union will provide immense value to all our CEA and non-CEA clients as they will be able to take advantage of the expertise, scale, and the complete suite of professional services that urban-gro offers. We’ve developed a strong partnership with urban-gro, and I couldn’t be more excited for both our clients and my team to experience what the combined company will offer. There is a gap in the global CEA industry, more specifically with the design build of indoor mid-sized CEA facilities, and we now have the ideal solution to fill it.”


StaffJanuary 5, 2022
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3min590

Urban-gro, Inc. (Nasdaq: UGRO) reported preliminary select financial performance for its full fiscal year ended on December 31, 2021 saying revenue should be approximately $62 million, which exceeds guidance of greater than $60 million provided on November 9, 2021. The company said this implies growth of more than 140% compared to $25.8 million in the fiscal year 2020. urban-gro also said it expects positive adjusted EBITDA for the fourth quarter of 2021 with the full fiscal year 2021 to be greater than $2.2 million, which represents an improvement of more than $2.9 million from the full fiscal year 2020.

“2021 was an exceptional year for our organization and I’m pleased we exceeded our business and financial expectations,” said Chairman and CEO Bradley Nattrass. “As we move into 2022, we are experiencing strength in our diversified global CEA markets and continue to enjoy significant momentum with both new and existing clients. Moreover, our record consolidated backlog demonstrates the execution of our growth strategies as the increase in our backlog also extends to our services business, which is performing extremely well following our accretive acquisition of 2WR+ in 2021. Further, additional benefits of these services agreements have yet to be realized as we expect significant waterfall revenue of new associated equipment contracts in 2022.”

Urban Gro also said that it expects to finish the year with a record consolidated backlog in excess of $30 million, consisting of more than $25 million in equipment and more than $5 million in service contracts. Last month the company said it had signed two new contracts involving long-time urban-gro clients. The first contract was a strategic enterprise agreement signed with a multi-state operator (MSO) client that operates under a globally recognized brand and provides a variety of cannabis products in regulated markets around the world. In addition to being the exclusive provider of architecture, engineering and design services for the development and build-out of the client’s new cultivation facilities, urban-gro will also be the exclusive equipment supplier for all the mechanical and cultivation equipment needs of the facilities. The second contract is with one of the leading Canadian-based licensed producers and is expected to generate approximately $9 million dollars of cultivation equipment revenue over the next several quarters. This contract is incremental to urban-gro’s announced backlog of $22.5 million as of September 30, 2021.


Debra BorchardtDecember 10, 2021
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4min1500

It’s a trend that could benefit emerging agricultural technology or ag-tech companies within the cannabis space. Many of these companies either began indoor growing with traditional products like lettuce or started in cannabis only to see a future beyond the confines of a pseudo-legal product.

Pitchbook News issued a new report that found funding for ag-tech companies jumped to a record high in the third quarter of 2021. Their data showed that this group raised $3.2 billion across 201 deals. This was an increase of 57% over the second quarter and annually, deal values hit $7.8 billion year-to-date. It will beat 2020 by 21.3%, with just one quarter remaining in the year. Pitchbook also said that the deal count totaled 545 deals in 2021 year-to-date, on pace to reach a decade high.

While none of the companies mentioned in the Pitchbook report come from the cannabis industry, it does bode well for them and makes their fundraising story a bit easier to tell. The big kahuna was Pivot Bio which raised $430.0 million Series D in the third quarter led by Temasek Holdings. According to Crunchbase, it has raised $616 million to date and has a post-money valuation in the range of $1B to $10B as of Jul 19, 2021, according to PrivCo. The company has developed a method to replace synthetic nitrogen that farmers use with a proprietary microbial technology that supplies the daily nitrogen cereal crops require.

Pitchbook said, “Investors are focusing on tech solutions that reduce atmospheric carbon, either by mitigating factors that lead to carbon emissions, such as enteric fermentation, or improving soil health and other carbon-capture tools and strategies.” The report also said that ag biotech startups attracted the majority (39.6%) of quarterly venture capital funding, while precision ag startups drew the majority of deals by count (34.4%).

Ag-Tech Exit

Of course, most venture capital investors aren’t in it for the long haul. Most of them want to know the way out the door before signing the check. Pitchbook said that the largest exit of the quarter was Ginkgo Bioworks’ $1.7 billion SPAC merger. The report said, “The company’s cell editing platform is used to pursue livestock feed innovation and microbiomics alternatives to synthetic agricultural chemicals, among other objectives.” Pitchbook reported that other key companies that exited in the third quarter included Benson Hill (NYSE: BHIL), Bear Flag Robotics, and American Robotics.

Cannabis Ag-Tech

Some of the leading names in cannabis Ag-tech are:


StaffMarch 13, 2019
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6min690

Systems Design and Building Design Solutions Provide Fully Integrated Building Efficiency and Optimization

LAFAYETTE, Colo. – March 13, 2019/AxisWire/ urban-gro, a leading cultivation systems integrator and agricultural technology company for commercial cannabis cultivators, announces the acquisition of Denver-based Impact Engineering Inc., a full-service mechanical, electrical, and plumbing (“MEP”) design and engineering company that has operated in the cannabis industry for the last four years as “Grow2Guys.”

By combining strengths, urban-gro and Grow2Guys will deliver value to investors and commercial cultivators through a tightly integrated design and engineering focus on high-performance cultivation facilities. The acquisition allows urban-gro to engage stakeholders earlier in the design process and offer the market a united team highly experienced in the end-to-end design and delivery of optimized cultivation and building systems.

“Investors and commercial cultivators tell us that they value our coordinated efforts,” says urban-gro CEO Brad Nattrass. “By combining urban-gro’s smart design and technology with Grow2Guys’s experience in building engineering solutions, we are strengthening our delivery of high-performance cultivation facilities.”

“Having provided mechanical engineering solutions for over 300 cultivation facilities, we are proud to combine our expertise with urban-gro’s agricultural solutions to ensure cultivators’ systems needs are harmonized with the building’s mechanical, electrical, and plumbing systems. This joining of forces is a testament to the maturation and legitimization of the cannabis industry,” says Brian Zimmerman. President and founder of Grow2Guys. “We look forward to providing investors and commercial cultivators with a holistic approach to the design of both cultivation and building systems.”

While urban-gro has acquired Grow2Guys for coordinated building and cultivations systems design, the Company will continue to work with and develop new relationships and collaborate with regional MEP engineering firms across North America. Grow2Guys will not compete directly with other MEP firms with which urban-gro has a relationship.

ABOUT URBAN-GRO

urban-gro, Inc. is a leading systems integrator and agriculture technology firm focused on serving commercial cultivators around the world. The company’s ag tech division, Soleil Technologies, delivers data-driven micro climate intelligence using high-density sense and control technology to improve crop quality, consistency, and operational efficacies. urban-gro helps cultivators achieve sustainable scalability via innovative solutions that drive down costs, increase economic yield and reduce environmental impact.  By combining its design and integration services, industry-leading suite of cultivation equipment and crop management products, and proprietary technology solutions, urban-gro provides integrated solutions for today’s commercial cannabis cultivators to efficiently manage and optimize their cultivation operations.  urban-gro is recognized as one of the cannabis industry’s fastest growing systems integration and agricultural technology companies. Visit www.urban-gro.com and www.soleiltech.ag to learn more.

Safe Harbor Statement

This press release may contain forward looking statements which 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 statements related to the amount and timing of expected revenues and any payment of dividends related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by us with the U.S. Securities and Exchange Commission (SEC).  Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, we not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general market conditions. Reference is hereby made to cautionary statements set forth in our most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term.  Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.

For media inquiries, please contact:
Press Contacts:
McKenna Miller
KCSA Strategic Communications
mmiller@kcsa.com
786-390-2644 / 347-487-6197


StaffFebruary 26, 2019
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8min500

LAFAYETTE, Colo., Feb. 26, 2019 /AxisWire/ urban-gro, Inc., a leading agricultural solution and technology company that works with leading commercial cannabis cultivators around the world, will be hosting three design workspaces at the Michigan Cannabis Industrial Marketplace to be held at the Frankenmuth Credit Union Event Center in Birch Run, Michigan on February 26 and 27.

These high-performance cultivation systems design workspaces will allow commercial cultivators to explore the design and technical considerations of numerous key cultivation facility systems—including irrigation, fertigation, climate control, benches, air movement, lighting, and pest management. These private workspaces will offer urban-gro’s customers the opportunity for detailed design and system evaluations to ensure optimal space utilization and product performance.

Additionally, urban-gro will showcase Fluence Bioengineering’s LED lighting solutions, following their recent announcement as the company’s first horticulture system integrator in the Americas. The industry-leading SPYDR and VYPR lights will be on display, demonstrating the latest in cultivation lighting technology to improve crop quality, consistency, and operational efficiencies.

Finally, Lucas Targos, Director of Cultivation Technologies, will present the “Five Factors to Successful Cultivation Facility Design and Construction” which is an interactive session that shares successful design and construction practices to ensure optimal equipment selection, installation and facility operations.

“urban-gro provides design, commissioning, and leading ag tech to support high-performance cultivation facilities, ensuring that our customers have the best solutions for their cultivation needs,” said Brad Nattrass, CEO and Co-Founder at urban-gro. “Our design workspaces represent the heart of what urban-gro provides and allow us to demonstrate our commitment to serving the cultivation community with best-in-market products, services, and technology.”

urban-gro experts will be on hand in Booth #161 to meet with cultivators and answer questions regarding urban-gro’s systems integration solutions, products, and technology.

ABOUT URBAN-GRO

urban-grois a leading systems integrator and agriculture technology firm focused on serving commercial cultivators around the world. The company’s ag tech division, Soleil Technologies, delivers data-driven micro climate intelligence using high-density sense and control technology to improve crop quality, consistency, and operational efficacies. urban-gro helps cultivators achieve sustainable scalability via innovative solutions that drive down costs, increase economic yield and reduce environmental impact. By combining its design and integration services, industry-leading suite of cultivation equipment and crop management products, and proprietary technology solutions, urban-gro provides integrated solutions for today’s commercial cannabis cultivators to efficiently manage and optimize their cultivation operations. urban-gro is recognized as one of the cannabis industry’s fastest growing systems integration and agricultural technology companies. Visit www.urban-gro.comand soleiltech.ag to learn more. Follow us on Instagram, Facebook, Twitterand LinkedIn.

Safe Harbor Statement

This press release may contain forward looking statements which 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 statements related to the amount and timing of expected revenues and any payment of dividends related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by us with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, we not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general market conditions. Reference is hereby made to cautionary statements set forth in our most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.

For media inquiries, please contact:

Press Contacts:
McKenna Miller
KCSA Strategic Communications
mmiller@kcsa.com
786-390-2644 / 347-487-6197


StaffFebruary 20, 2019
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12min360

LAFAYETTE, Colo., Feb. 20, 2019  /AxisWire/ urban-gro, Inc, a leading agricultural solution and technology company that works with commercial cannabis cultivators around the world, was awarded NCIA’s “Excellence in Innovation Award” in Cultivation at the 2019 National Cannabis Industry Association Seed to Sale Show. The event and ceremony were held at the Hynes Convention Center in Boston, Massachusetts on February 13.

urban-gro was carefully selected for its high-performance cultivation systems that help commercial cultivators grow quality cannabis, improve crop consistency, and advance overall operational efficiencies. Award recipients were evaluated by NCIA members based on innovative best practices, science, and cutting-edge technology surrounding the whole life cycle of the cannabis plant from cultivation through sale in a regulated market.

“This award is a testament to our commitment to providing commercial cannabis cultivators with high-performance agricultural solutions and the most advanced technology in the industry. NCIA continues to lead the charge for advocacy and advancement of this industry. It is an honor to be recognized among this influential group of companies,” said Brad Nattrass, CEO of urban-gro.

Award nominees are presented to current NCIA members for voting in each category. Categories include: Cultivation, Infused Products and Extractions, and Business Strategies and Innovation. Winners represent businesses that have disrupted and advanced the industry by bringing an innovative idea to life.

ABOUT URBAN-GRO

urban-gro is a leading systems integrator and agriculture technology firm focused on serving commercial cultivators around the world. The company’s ag tech division, Soleil Technologies, delivers data-driven micro climate intelligence using high-density sense and control technology to improve crop quality, consistency, and operational efficacies. urban-gro helps cultivators achieve sustainable scalability via innovative solutions that drive down costs, increase economic yield and reduce environmental impact.  By combining its design and integration services, industry-leading suite of cultivation equipment and crop management products, and proprietary technology solutions, urban-gro provides integrated solutions for today’s commercial cannabis cultivators to efficiently manage and optimize their cultivation operations.  urban-gro is recognized as one of the cannabis industry’s fastest growing systems integration and agricultural technology companies. Visit www.urban-gro.com and soleiltech.ag to learn more. Follow us on InstagramFacebookTwitter and LinkedIn.

Safe Harbor Statement

This press release may contain forward looking statements which 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 statements related to the amount and timing of expected revenues and any payment of dividends related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by us with the U.S. Securities and Exchange Commission (SEC).  Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, we not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general market conditions. Reference is hereby made to cautionary statements set forth in our most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term.  Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.

For media inquiries, please contact:

Press Contacts:
McKenna Miller
KCSA Strategic Communications
mmiller@kcsa.com
786-390-2644 / 347-487-6197


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