Denver, Colorado, Feb. 4, 2014 (GLOBE NEWSWIRE) -- FusionPharm, Inc. (OTC: FSPM), manufacturer of the PharmPod™ professional cultivation system and GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, today announced that the Companies will expand their collaboration agreement and begin offering a co-branded line of specialized professional cultivation equipment components.
The new line of professional components will be co-branded under FusionPharm's PharmPod™ brand name and GrowLife's Stealth Grow™ line of equipment. This co-branded component line will initially include a line of professional hoods/reflectors and will quickly be expanded to include a wide range of custom designed components. The first shipment of components is anticipated to be available for installation in FusionPharm's PharmPod™ system and to the general public through the GrowLife network of hydroponic stores and websites in February.
"We are thrilled to partner with GrowLife to bring a specially designed line of cultivation equipment to our PharmPod™ system and to the market in general," stated Scott Dittman, CEO, FusionPharm, Inc. "This is an important step in our evolution as we seek to customize our componentry to maximize the functionality of our PharmPod professional equipment while ensuring our customers have an in-house option for future replacements and upgrades. We couldn't have done it without the brilliant product development team and leadership of GrowLife."
"FusionPharm and its leadership have done an exceptional job proving a market for their innovative product line," stated Sterling Scott, CEO, GrowLife, Inc. "We are very pleased to expand our presence in this vertical and to do so with one of the stronger brands we observe in the marketplace."
PharmPod™ units are currently manufactured by FusionPharm in Colorado. Additional manufacturing facilities are planned for the east and west coast of the United States in 2014.
About FusionPharm Inc. (FSPM)
FusionPharm, Inc. (FSPM) (www.fusionpharminc.com) was organized to capitalize on opportunities present in the rapidly growing vertical farming and cannabis industries. FusionPharm's primary focus is the development and deployment of the patent pending PharmPods™ advanced hydroponic commercial cultivation systems. PharmPods are constructed from standard ISO steel shipping containers that are repurposed for use in indoor controlled environment agriculture. Modular, stackable, cost competitive and financeable, PharmPods have become the industry leader for professional, commercial scale indoor plant cultivation
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) develops, markets and deploys products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The Company provides these solutions in our nationwide retail network, as well as online sites Greners.com, Phototron.com and 58Hydro.com. The Company also operates the political and social forum, Cannabis.org
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for GrowLife's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in GrowLife's filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting GrowLife, Inc. please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. GrowLife, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
FusionPharm, Inc
(720) 458-0686
info@fusionpharminc.com