Urban-Gro Inc.
Urban-Gro, Inc. Announces Asset Sale and Leadership Changes Amid Nasdaq Listing Challenges
Summary
Urban-Gro, Inc. has announced the sale of certain subsidiaries' assets and commercial, industrial, and municipal architectural and construction administration services to 2WR Holdco, LLC for $2.0 million. The company faces potential delisting from Nasdaq due to failing to meet the minimum bid price requirement. Additionally, Lewis O. Wilks resigned from the Board of Directors, and the CEO voluntarily reduced his salary. A hearing before a Nasdaq Hearings Panel has been requested to stay the suspension of the company's Common Stock.
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About Urban-Gro Inc.
Urban-Gro Inc. is a design, engineering, and cultivation systems integration company catering primarily to the indoor agriculture space. The company provides comprehensive solutions that include architectural design, engineering, equipment integration, and cultivation systems to indoor commercial cannabis and food cultivation facilities. Urban-Gro Inc. enhances the efficiency and success of cultivation operations by delivering integrated systems tailored to the unique needs of each client. This encompasses environmental controls, fertigation stations, light deprivation systems, and LED lighting solutions. By serving the rapidly growing indoor cultivation market, the company bridges the gap between operational needs and technological advancements, playing a vital role in enhancing resource efficiency and sustainability in agriculture. As urban farming and controlled environment agriculture become increasingly prominent, Urban-Gro plays a significant role in meeting the demands of these evolving sectors.
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