GROWLIFE, INC. (OTCMKTS:PHOT) Files An 8-K Regulation FD DisclosureItem 9.01 Regulation FD Disclosure.
Preliminary Results of Rights Offering to Shareholders
On November 30, 2018, GrowLife, Inc. (the “Company”), closed its Rights Offering. The Company has received approximately $2,500,000 under the Rights Offering as of December 6, 2018. The Rights Offering was designed to give record shareholders the opportunity to invest directly into the Company at a set price with additional warrants to support the Company’s capital raise to be used for continued expansion.
The results of the rights offering to date and the Company’s estimates regarding the number of shares to be issued and the gross proceeds to be received are preliminary and subject to finalization and verification by the Subscription Agent, Direct Transfer LLC. After Direct Transfer has effected all required allocations and adjustments, the rights offering will be completed and Direct Transfer will distribute, by way of direct registration in book-entry form, the remaining common shares and warrants of GrowLife, Inc. to holders of subscription rights who validly exercised their subscription rights and paid the subscription price in full. No physical share certificates will be issued.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
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Exhibit No. |
Description |
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Press Release dated December 6, 2018 concerning closing of Rights Offering |
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GROWLIFE, INC. ExhibitEX-99.1 2 phot_ex991.htm PRESS RELEASE DATED DECEMBER 6,…To view the full exhibit click here
About GROWLIFE, INC. (OTCMKTS:PHOT)
GrowLife, Inc. (GrowLife) provides goods, including media (farming soil), hydroponics equipment, organic plant nutrients, and various other products to specialty grow operations across the United States. The Company primarily sells through its subsidiary, GrowLife Hydroponics, Inc. In addition to the promotion and sales of GrowLife owned brands, GrowLife distributes and sells over 3,000 products through its e-commerce distribution channel, Greners.com, and through its regional retail storefronts. The Company serves a community of commercial and urban cultivators growing specialty crops, including organics, greens and plant-based medicines. Indoor growing techniques are used to cultivate plant-based medicines. The Company holds rights in approximately 30 Website addresses related to its business, such as www.growlifeinc.com, www.growlifeeco.com, www.stealthgrow.com and www.greners.com.
