KIRKLAND, Wash., March 07, 2019 (GLOBE NEWSWIRE)
-- GrowLife, Inc.
(PHOT) (“GrowLife†or the “Companyâ€), one
of the nation’s most recognized indoor cultivation product and
service providers, today announced that the Company has implemented
a new executive organizational structure designed for efficient
integration of new acquisitions and continued growth.
In order to best utilize the leadership team, the company has assigned new titles and functional responsibilities to team members in their respective areas. With a strong tenure within the organization and proven success in sales management, Joe Barnes will lead the sales and marketing divisions of the company as GrowLife’s Executive Vice-President of Sales and Marketing. The national sales team will report to Barnes, led by recently announced National Sales Manager Brian Knight.
Leveraging over 20 years of experience in manufacturing and product development in the cannabis cultivation industry, William Blackburn has been given the title of Executive Vice-President of Research and Development. Blackburn is one of the founders of GrowLife’s recently acquired EZ-CLONE Enterprises, Inc. At EZ-CLONE Enterprises, Inc., Blackburn built a renowned equipment manufacturing company that continues to lead the propagation and cloning sector of the cannabis cultivation. He will be tasked with further developing the Company’s proprietary product line including new EZ-CLONE products and GrowLife’s commercial vertical growing system.
Mark Scott will remain the Chief Financial Officer for the Company as well as hold the title of Executive Vice-President of Mergers and Acquisitions. Scott will oversee the financial operations of the Company with assistance from newly hired Corporate Controller Foday Dean in addition to his new role of managing negotiations and integration of future acquisition targets.
“We are moving forward with this new organizational structure as a way to further prepare our company for future acquisitions and continued growth," said GrowLife CEO Marco Hegyi. "We were able to integrate our newest acquisition EZ-CLONE Enterprises, Inc. in about half the time of our previous acquisitions. This happened because of the skills and expertise of each of these team members, which has allowed us to build upon our current organizational structure to capture additional market opportunities. Each Executive VP will cover their functional area, continue to add to their team to deepen their efficiency impact, and enable the company to integrate future acquisitions and growth seamlessly. We are seeing more consolidation opportunities in 2019 than ever before, and plan to target additional acquisitions that support our mission of driving down production costs for our customers. We are exploring half a dozen different companies and discussing non-dilutive financing instruments as a part of our mergers and acquisitions strategy.â€
Global cannabis sales are expected to grow 38% in 2019 to $16.9 billion, and hit $31.3 billion by 2022, according to Arcview Market Research and BDS Analytics.
For more information about GrowLife, including the CEO’s most recent video statement, visit the company’s website. Products can be purchased at ShopGrowLife.com in the U.S. and GrowLifeHydro.ca in Canada.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
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