Braingrid and R2G Global Announce Strategic Alliance Agreement
TORONTO, May 25, 2018 (Newswire.com) - Braingrid Corporation (“Braingrid”) is pleased to announce it has entered into a Strategic Alliance Agreement with R2G Global LLC (“Rent2Grow”), a global company that empowers urban cultivators with a state-of-the-art turnkey pod solution that helps eliminate the danger and guesswork associated with cultivating cannabis at home, including rental apartments and condominiums.
The strategic three-year agreement enables Braingrid to exclusively provide its sensing and control capabilities for the Rent2Grow pod worldwide. Rent2Grow intends to meet the needs of one percent of the cannabis consumer market by offering what they call “Empowered DIY (do-it-yourself) Cannabis Solutions.” Braingrid is leveraging their experience gained with large commercial cannabis growers to support Rent2Grow’s community grow model.
“We are excited about our partnership with Braingrid,” said Richard Lamb, chairman of Rent2Grow. “The R2G pods, coupled with Braingrid’s technology, empower cultivators to grow, harvest and store their produce on-site, or remotely, via the secure app. Consumers can choose a turnkey autopilot approach or control the process on a more intimate level. Our partnership with Braingrid will provide our customers with the flexibility to have granular-level control if they want it!”
Rent2Grow plans to launch a minimum of 15,000 pods by 2021 and expects demand to increase that number to as much as double. If that level is achieved, revenue potential in the third year for Braingrid exceeds CAD$10M together with service fees exceeding CAD$300K/month. Braingrid will also earn an equity interest in R2G Global LLC and its affiliate Rent2Grow Canada Inc.
“Lighting, temperature and humidity levels are critical to growing,” said Matt Skynner, president and COO of Braingrid. “That’s why Rent2Grow and Braingrid’s combined offering is so important. Braingrid’s Sentroller will monitor and control critical parameters to guarantee the crops are never at risk.”
Rent2Grow and Braingrid will be exhibiting their product at the Lift & Co. Cannabis Expo in Toronto May 25-27 where growers will be able to see the “Powered by Braingrid” Rent2Grow pod.
"We are proud to have a strong Canadian cannabis partner in Braingrid as we lead the curve ahead of legalization and look forward to the opportunity of providing this solution in designated facilities, in the near future," said Dean McCall, president of Rent2Grow Canada.
Media Contact:
Laura Leslie
laura@braingrid.io
About Braingrid:
Braingrid (braingrid.io) is a Toronto-based global tech company that provides an affordable, versatile and quick-to-install sensor platform for cannabis cultivators. Braingrid captures real-time data needed to increase revenues, reduce costs and risks, and connects cultivators to their grow on a microclimate level.
About R2G Global:
Founded in 2014, R2G Global LLC (Rent2Grow.com) provides a safe urban alternative to at-home-growing for communities across North America. Our state-of-the-art cultivation facilities provide a secure and innovative environment for home growers to rent a grow space in municipalities and counties that support personal cultivation to grow their own medicinal or recreational cannabis away from their homes and residences. R2G solves many issues facing the home grower including limited space or resources, up-front costs, security, and lack of experience and expertise. R2G also successfully addresses concerns commonly heard by local police, landlords and municipalities. R2G offers solutions for responsible personal cannabis cultivation.
For more information, please visit www.rent2grow.com.
FORWARD-LOOKING INFORMATION
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates and beliefs of Braingrid and Rent2Grow. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties and other factors which may cause actual events, results, performance or achievements of Braingrid to be materially different from future events, results, performance and achievements expressed or implied by forward-looking information and statements herein. Such forward-looking statements include statements regarding the expected growth of Rent2Grow’s pods and the anticipated revenue for Braingrid. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
Source: Braingrid Corporation