Two Rivers subsidiary GrowCo wraps $4.4 million preferred units sale

Deal funds construction of a greenhouse and land and water acquisition

By Devika Patel

Knoxville, Tenn., Jan. 21 – GrowCo, Inc. completed a $4.4 million private placement of units on Jan. 20, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company sold units of preferred membership interests in GrowCo Partners 1, LLC and warrants.

TR Capital Partners, LLC bought 26.54% of the units sold in the placement in exchange for cancellation of $1.1 million of startup financing.

Proceeds will be used to acquire land and water and for construction of a greenhouse in Colorado that has been leased to a Colorado-licensed marijuana grower.

The private subsidiary of Two Rivers Water & Farming Co. is based in Denver. GrowCo was formed to construct state-of-the-art computer-controlled greenhouses for licensed marijuana growers. Two Rivers is building a new water paradigm for the arid regions of the Southwestern United States.

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