PUEBLO, Colo., Nov. 08, 2023 (GLOBE NEWSWIRE) -- CannaGrow Holdings, Inc. (OTCPink: CGRW) (the “Company” or “CGRW”), today announced the completion of a strategic review and the decision to move the Company into the sports and entertainment industry.

“This is a great move for CannaGrow as we looked for the right market and the right opportunity to maximize value for our shareholders,” said Delmar Janovec, who is retiring as the Director and CEO of CannaGrow. ”I believe the global sports and entertainment industry provides significant upside potential, with the global sports market estimated to grow to more than $620 billion by 2027.”

“I’m appreciative of the support of my team and the CGRW shareholders as I have attempted to grow this company over the last 10 years. However, this is a great time for me to retire, and I’m confident that the new leadership will take this opportunity to build a stronger, dynamic company to drive shareholder value for the long term,” Janovec added.

CannaGrow announced the retirement of Janovec as CEO and as its sole Director concurrent with finalizing the strategic shift in the business. The Company’s common stock will continue to trade on the OTCPink market under the current ticker CGRW.

About CannaGrow Holdings, Inc.
Founded in 1995 as a consumer and diversified holding company and operating as an agricultural real estate business since 2014, CannaGrow Holdings, Inc. (OTCPink: CGRW) is now focused on media, entertainment, live sports and event marketing.

Investor Relations for CGRW:
Zachary Mizener
Lambert Global
zmizener@lambert.com