urban-gro raises $ 54 million within the sale of shares for $ 10 – New Hashish Ventures

urban-gro announces $ 54 million public offering pricing and Nasdaq listing

LAFAYETTE, Colo., February 11, 2021 (GLOBE NEWSWIRE) – Urban-Gro, Inc. (NASDAQ: UGRO) (“Urban-Gro” or the “Company”), a leading global horticultural company that develops and designs commercially controlled environment agriculture (“CEA”) and the integration of complex environmental equipment systems into these high-performance facilities today announced the pricing of a subscribed public offering of 5,400,000 common shares of the Company at a public offering price of $ 10 per share for total gross proceeds of $ 54,000,000 before deduction subscription discounts, commissions and other listing costs. In addition, the Company has granted subscribers a 45-day option to purchase up to 810,000 common shares at the public offering price less subscription discounts and commissions. The offering is expected to close on February 17, 2021 provided customary closing conditions are met.

The company has received approval to list its common stock on the Nasdaq Capital Market under the symbol “UGRO” and is expected to begin trading on February 12, 2021.

The company intends to use the net proceeds to support organic growth, expansion in the European CEA market for general corporate purposes, including funding potential future investments and acquisitions of companies that the company believes will enhance its business and growth strategy supplement and repay certain outstanding debt.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as the sole book-running manager for the offering.

The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-1 with respect to these securities on February 11, 2021, and an additional registration statement on Form S-1 with respect to the Offering will be made pursuant to Rule 462 filed (b) under the Securities Act of 1933, as amended, which will take effect automatically upon filing. A final prospectus relating to this offering will be filed with the Securities and Exchange Commission. The offer is only made by means of a prospectus. Copies of the final prospectus relating to the offering, when available, can be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, NY 10004, phone (877) 436-3673, email: spectus @ think-equity. com. Investors can also obtain these documents free of charge from the SEC’s website at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor may a sale of such securities take place in any state or jurisdiction in which such offer, solicitation or solicitation may be made Selling would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About urban-gro, Inc.

urban-gro, Inc. is a leading engineering design and services company focused on the commercial horticultural market. We engineer and design commercial Controlled Environment Agriculture (CEA) plants and then integrate complex environmental equipment systems into these high performance plants. Our bespoke approach to design, sourcing and device integration operating in the global marketplace provides a central point of accountability in all aspects of growing business. Visit www.urban-gro.com to find out more.

Original press release

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