GROWGENERATION CORP (OTCMKTS:GRWG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 16, 2018, Jody Kane tendered a resignation letter to GrowGeneration, Corp. (the “Company”)to indicate his resignation as a director of the Company due to his retirement, effective immediately. Mr. Kane’s resignation was not a result of any disagreements with the Company regarding its operations, policies or practices.
On the same day, the Company’s Board of Directors appointed Sean Stiefel as a director of the Company.
Mr. Stiefel founded Navy Capital LLC in 2014, where he is currently a Portfolio Manager and is responsible for all aspects of stock selection, investment due diligence and portfolio construction. Mr. Stiefel launched the Navy Capital Green Fund, LP in 2017 as a global public equity focused cannabis dedicated fund. Navy Capital has been involved in cannabis related investing since early 2016. Prior to founding Navy Capital, Mr. Stiefel was a research analyst and trader for Northwoods Capital Management Partners, a global equity fund with a fundamental value and special situations investment strategy. Mr. Stiefel had previously served as an associate within an equity long/short fund at Millennium Partners, and he began his career as an equities trading analyst for Barclays Capital. He is a graduate of the University of Southern California’s Marshall school of Business.
Section 7 – Regulation FD
Item 7.01. Regulation FD Disclosure
On January 17, 2018,the Companypublished a press release regarding the appointment of Mr. Stiefel as a new director.
A copy of the press release is attached hereto as Exhibit 99.1. The information contained herein and the exhibit attached herewith shall be deemed furnished and not filed.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
| ExhibitNo. | Description |
| 99.1 | Press Release, dated January 17, 2018 |
GrowGeneration Corp. ExhibitEX-99.1 2 f8k011618ex99-1_growgen.htm PRESS RELEASE,…To view the full exhibit click here
About GROWGENERATION CORP (OTCMKTS:GRWG)
GrowGeneration, Corp. operates retail hydroponic and organic specialty gardening retail outlets. The Company owned and operated a chain of approximately eight retail hydroponic/gardening stores located in the states of Colorado and California at November 9, 2015. The Company is also engaged in the development of a branded e-commerce portal at www.GrowGeneration.com. The Company’s stores offer supplies to the hydroponic and gardening industry, including medium (farming soil), hydroponic equipment, lighting, plant nutrients and various additional products used by professional growers and specialty cultivation operations. The Company’s target market segments include home growers of organic vegetable and fruit growers (small farms, home garden growers, restaurants growers and farmer markets), the do-it yourselfers (home flower and plant growers, or mass market and growers in the cannabis related market (dispensaries, cultivators and caregivers).
