8-K
GrowGeneration Corp. (GRWG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January
18, 2022
GROWGENERATION CORP.
(Exact Name of Registrant as Specified in its Charter)
| Colorado | 333-207889 | 46-5008129 |
|---|---|---|
| (State or other Jurisdiction<br><br>of Incorporation) | (Commission File Number) | (I.R.S. Employer <br><br>Identification No.) |
5619 DTC Parkway, Suite 900
Greenwood Village, CO 80111
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (800) 935-8420
N/A
(Former Address of Principal Executive Offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.001 per share | GRWG | The NASDAQ Stock Market LLC |
Section 7 – Regulation FD
Item 7.01. Regulation FD Disclosure
On January 18, 2022, GrowGeneration Corp. (the “Company”) published a press release regarding the launch of a new National Program with Harvest 360 Technologies, LLC (H360) to support education and training for Social Equity applications.
A copy of the press release is attached hereto as Exhibit 99.1. The information contained in this Current Report on Form 8-K (including the exhibit) is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
Section 9 – Financial Statementsand Exhibits
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release dated January 18, 2022 |
| 104 | Cover Pager Interactive Data File, formatted in Inline XBRL document |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: January 18, 2022 | GrowGeneration Corp. | |
|---|---|---|
| By: | /s/ Darren Lampert | |
| Name: | Darren Lampert | |
| Title: | Chief Executive Officer |
2
Exhibit99.1
GrowGenerationAnnounces Social Equity Initiative
January 18, 2022 8:00am EST
“AmericanIdol” Style Competition in New Jersey will Award 25 Cultivation Teams a FullScholarship Package and Award Five Teams with the Grand Prize
DENVER, Jan. 18, 2022 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), (“GrowGen” or the “Company”) the nation’s largest chain of specialty hydroponic and organic garden centers, announced today that, together with Harvest 360 Technologies, LLC (H360), they are launching a new National Program to support education and training for Social Equity applications.
Regulations in both New York and New Jersey seek to create a framework to regulate cannabis in these states in a manner that promotes social equity and economic development, placing an emphasis on promoting inclusion of diverse populations in the medicinal and recreational cannabis industries. GrowGeneration together with Harvest 360 is committed to delivering solutions to these operators and supporting their communities. This program with H360, gives GrowGeneration a direct method to help new companies grow their businesses. These Micro Grow licenses in the New Jersey Adult-Use Cannabis market represent a new generation of growers that GrowGen believes will be the NEXTGEN of entrepreneurship to expand the cannabis industry.
“Today we announce **NEXTGEN,**the first initiative in our goal of supporting social equity and the inclusion of diverse applicants, including minority, women, and veteran entrepreneurs, to identify and empower small cultivators in New Jersey” said Michael Salaman President and co-founder of GrowGen. “We expect over 500 teams to enter this competition, and GrowGeneration will be fully supporting 25 teams. That’s over 100 people provided with a full scholarships with H360”. Enter Competition Here This new national Education & Training program is the first commitment of its kind in the industry. The NEXTGENMicro Cultivation competition, will begin with a GrowGen commitment of up to $500,000 to provide full scholarships for 25 Cultivation teams, that will establish Micro Grow licenses in the New Jersey Adult-Use Cannabis market. GrowGen will provide scholarships to the program, access to equipment packages and market resources to the applicants. All entries in the contest will get access to an online cultivation portal with valuable resources to assist in the preparation of an application, or to be educated and informed about best practices in the New Jersey program.
The 25 finalist teams that make it to the second round will also receive complete planning and engineering services for their facilities from GrowGeneration, and access to a compliant business services package from H360 worth thousands of dollars. Five Winning Teams will then be selected by a Panel of Judges to receive a comprehensive package including financing, advanced training, business service packages, and direct operational support.
“Veteran, Minorities, Women and Residents of Impact Zones or Disproportionately Impacted Areas, are being encouraged to participate in new markets like New Jersey, New York and Illinois, but they are not always given access to the tools necessary to compete and be successful” said Todd Scattini, Global CEO of Harvest 360 “Social Equity and Micro Cultivation Licenses are very closely related, I have seen how the Micro Grow program in Missouri has helped veterans turn their lives around by helping treat chronic pain, PTSD, and receive therapeutic benefits from cultivation of the cannabis plant.”
AboutGrowGeneration Corp:
GrowGeneration owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGeneration has 62 stores, which include 23 locations in California, 8 locations in Colorado, 7 locations in Michigan, 5 locations in Maine, 5 locations in Oklahoma, 4 locations in Oregon, 3 locations in Washington, 2 locations in Nevada, 1 location in Arizona, 1 location in Rhode Island,1 location in Florida, 1 location in Massachusetts and 1 location in New Mexico.
GrowGeneration also operates an online superstore for cultivators at growgeneration.com and B2B e-commerce platform, agron.io. and a leading manufacturer of indoor vertical racking systems. GrowGeneration carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.
CompanyInquiries:
GrowGeneration Corp.
John Evans
415-309-0230
john.evans@growgeneration.com
InvestorContact:
ICR, Inc.
Clay Crumbliss, CFA
Managing Director
(203) 682-8387
clay.crumbliss@icrinc.com