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PORTLAND, OR --(Marketwired - February 25, 2016) - THE NOW CORPORATION (OTC PINK: NWPN) announced today that it has structured a revised business plan to facilitate raising of capital and strategy for its first Colorado-based hydroponic facility.
The NOW Board of Directors has declined to consummate the Agreement to purchase the proposed interest majority in Field Of Greens, a Colorado Corporation, as disclosed in the company news release of October 7, 2015. NOW intends to acquire sufficient land elsewhere to meet its needs as set out in its revised business plan.
The NOW Corporation expects to be able to file an S-1 Registration Statement with the Security and Exchange Commission within the next 60 days to then be able to proceed with raising the necessary capital to carry out its business plan. With funds in place construction of its first hydroponic facility should commence in the third quarter of 2016.
The new business plan proposes constructing facilities on one acre sites with each site having the availability to expand up to ten acres to grow industrial hemp. The facilities will be a controlled environment in order to ensure ideal growth conditions and maximize the annual number of harvests.
The Company's goal of becoming a large cultivation facility service provider for the production of Cannaboid's organics, herbs and greens and plant-based medicines has not changed. The Company's mission is to best serve cultivators in the design, build-out, expansion and maintenance of such facilities for the growing and processing of products with high quality, exceptional value and competitive pricing.
About The NOW Corporation
The NOW Corporation's core mission is to profitably utilize new and existing properties where legalized growing of industrial hemp is allowed. This will take place during the inevitable transition of the country's new laws wherein we hope to establish the company as a leader in the industrial hemp revolution. For more information about The NOW Corporation, please visit us at: www.thenowcorporation.net
Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" All forward-looking statements are based on The Now Corporation's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of The Now Corporation's experience and its perception of historical trends.