TORONTO, March 21, 2019 /CNW/ - CO2 GRO Inc. ("GROW" or the "Company") (TSX-V: GROW, OTCQB: BLONF, Frankfurt: 4021) announces that the Board of Directors has approved the grant of 235,849 stock options (the "Options") to a participant of the Company's stock option plan (the "Plan"). The Options are exercisable into common shares of the Company at an exercise price of $0.27 per share over the next two years and vest immediately, all in accordance with the Plan.
As of the date hereof, a total of 4,818,643 common shares of the Company are reserved for issuance under the Company's stock option plan and after this new grant, 5,054,492 options will be outstanding.
About CO2 GRO Inc.
GROW's mission is to accelerate all indoor and outdoor value plant growth naturally, safely, and economically using its patent pending CO2 Foliar Spray technology. GROW's global target retail plant markets are food at $8.1 trillion per year (Plunkett Mar 2017), non-food at an estimated $1.2 trillion per year with retail tobacco at $760 billion (BA Tobacco 2017), floriculture at $100 billion by 2022 (MarketResearch.Biz estimate). Legal cannabis is forecast at $52.5 billion per year by 2023 (Statista) and legal US hemp CBD at $22B per year by 2022 (the Brightfield Group).
GROW's CO2 technologies are commercially proven, scalable and easily adopted into existing irrigation systems.
The CO2 technologies work by transferring CO2 gas into water and foliar spraying water across the entire plant leaf surface which is a semi permeable membrane. The dissolved concentrated CO2 then penetrates a leaf's surface area naturally like nicotine dissolves through human skin from a soluble nicotine patch.
Foliar spraying of water, dissolved nutrients and chemicals on plant leaves has been used for over 60 years by millions of indoor and outdoor growers. To date, outdoor growers have not had any way to enhance plant CO2 gas uptake for faster growth.
Indoor CO2 gassing has enhanced plant yields for over 60 years but 60% of the CO2 gas used is typically lost from ventilation. Current greenhouse CO2 gassing levels of up to 1500 PPM are not ideal for worker health and safety. GROW's safer infused CO2 Foliar Spray can be used by both indoor and outdoor plant growers with minimal dissolved CO2 gas lost and much greater CO2 plant bioavailability resulting in higher plant yields than both CO2 gassing and no gassing plant yields.
Forward-Looking Statements This news release may contain forward-looking statements that are based on CO2GRO's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by 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.
SOURCE CO2 GRO Inc.
For further information: Please visit www.co2gro.ca or contact Sam Kanes, VP Business Development at 416-315-7477