CannaGrow Holdings Inc. announced an update on the Colorado project. Due to the number of inquiries and ongoing discussions with parties interested in leasing, building, or entering into Joint-Ventures with CannaGrow Holdings on the Colorado Buffalo Ranch Filing No. 5-Lot 61 Property, the Company has secured an option to lease the remaining 15 acres on Lot 61 from NuGro Industries Inc. The current Five Phase Build Out is already spoken for and leasing details are being negotiated with the future tenants.

Construction on Phase I &II continues and progress is accelerating. The foundations (footings and stem walls) have been completed for both the Nexus Greenhouse and Olympia Head-house. The Greenhouse construction subcontractors moved onto the project site on January 25, 2016, to begin erecting the facilities.

Phase I & II consists of site grading for the ingress & egress roadways, a 3,200 sq. ft. head-works building, six 2,300 sq.

ft. hoop-houses for outdoor grows, an approximate 3,300 sq. ft.

Nexus Greenhouse that utilizes the most up-to-date technology for the growing of cannabis. The Nexus Greenhouse and the Olympia Head-house buildings will provide a premier work and growing facilities for an approved Licensed Grower's operations which will optimize all operations, from seed-to-sale.