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05.08.2013 14:05
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GrowLife and FusionPharm Announce Collaboration Agreement for Equipment Supply and Co-Marketing
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PR Newswire
WOODLAND HILLS, Calif., Aug. 5, 2013
WOODLAND HILLS, Calif., Aug. 5, 2013 /PRNewswire/ -- GrowLife Inc. (OTCQB: PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, today announced that it has entered into a collaboration agreement with FusionPharm, Inc. (OTC: FSPM). Under the collaboration agreement, GrowLife companies will provide the necessary grow equipment and consulting services to FusionPharm and GrowLife will co-market PharmPods, FusionPharm's commercial-scale fully equipped grow technology.
"FusionPharm is currently the market leader in modularized commercial-scale fully equipped grow technology (based on standard ISO shipping containers) with competitive products on the market," stated Sterling Scott, CEO, GrowLife Inc. "We are very pleased to immediately involve GrowLife companies with the team at FusionPharm and to offer supply of our full range of specialized grow equipment for the production line of PharmPod™ units. We will support co-marketing and co-sales of PharmPods™ through our GrowLife Consulting team and our network of stores across the USA, in cooperation with FusionPharm and their licensing partner, Meadpoint Venture Partners, Inc."
Last week, licensee Meadpoint announced that it had reached the $200,000 mark for sales during the past 30 days, and that it was on track to reach its sales target of delivering at least a hundred PharmPods™ to customers in 2013.
"We are very pleased to have GrowLife's support and to work closely with their team across the country and particularly in the New England states where we are building a lot of traction right alongside GrowLife's expansion of stores," stated FusionPharm CEO Scott Dittman. "FusionPharm is excited about the opportunities for our PharmPod brand of cultivation containers on the East Coast in collaboration with GrowLife, which has become one of the premier brands in the hydroponic market."
PharmPod™ units are currently manufactured by FusionPharm in Colorado and under license on the East and West Coasts. GrowLife will temporarily discontinue collaborative efforts for a previously announced development of MediGrow modular system grow chambers with GrowOpp, LLC in order to focus additional effort on PharmPod™ equipment and sales.
For a GrowLife Investor Presentation visit: http://growlifeinc.com/wp-content/uploads/2013/05/PHOT-DECK-4_30_13.pdf
To view a Grassroots Research report on PHOT please visit the link below:
http://grmarketresearch.com/phot/report.pdf
About GrowLife Inc.
GrowLife Inc. (PHOT) (www.growlifeinc.com) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Greners.com, the online hydroponics superstore (www.greners.com), Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment (www.phototron.com) as well as bricks and mortar retailers Urban Garden, Rocky Mountain Hydroponics and Evergreen Garden Center (www.rmgardener.com).
About FusionPharm, Inc.
FusionPharm, Inc. was organized to capitalize on opportunities present in the rapidly growing organic/local food and cannabis industries. FusionPharm's primary focus is the development and deployment of the patent pending PharmPods(TM) advanced hydroponic cultivation systems. PharmPods are constructed from standard ISO steel shipping containers that are repurposed for use in indoor controlled environment agriculture.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties, and actual results might differ materially. Examples of such forward-looking statements include management's projected 2013 revenue guidance, references to potential acquisitions, and other references to potential growth in the business. A discussion of factors that may affect future results is contained in GrowLife's filings with the Securities and Exchange Commission. In addition, all industry products are subject to additional uncertainty, including the risks of delay, cancellation and poor critical or financial reception. GrowLife disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
SOURCE GrowLife Inc.
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