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GrowLife Completes Colorado Acquisitions

GrowLife Inc., a supplier of lights and other marijuana-growing supplies, completed on Monday its acquisition of three Colorado businesses. The Woodland Hills company bought Rocky Mountain Hydroponics LLC of Golden, Evergreen Garden Center LLC of Kittredge, and 58Hydro.com of Edwards, units of RMH/EGC. GrowLife paid $1.63 million for the businesses in the form of 7.9 million shares of common stock, a $500,000 cash payment and $800,000 in convertible notes. GrowLife Chief Executive Sterling Scott said the deal will help the company improve its online sales for its website Greners.com, including next-day pickup at Evergreen retail stores in the Northeastern states and Colorado. GrowLife currently operates one retail location in Woodland Hills. “This acquisition is a game changer for GrowLife. With national interest rising, it is vital that GrowLife has ultra-efficient operations, the collective buying power to dominate our markets, and a team of industry professionals that is second to none,” he said in a prepared statement. Rob Hunt, the majority of RMH/EGC, will join GrowLife’s board and assume the position of executive vice president of GrowLife and president of the GrowLife Hydroponics Inc. business unit. Share of GrowLife closed up a fraction of a cent to 5 cents in over-the-counter trading.

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