Leadership Team Strengthens as GrowLife Begins Implementing $40 Million Capital Infusion
WOODLAND HILLS, Calif., Dec. 11, 2013 /PRNewswire/ — GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software, is pleased to announce that effective immediately, Marco Hegyi will assume the position of President and join the Board of Directors.
“The Board of Directors and I are elated to add Mr. Hegyi’s vision and considerable experience in world class team building to the GrowLife management team,” stated Sterling Scott, CEO, GrowLife Inc. “The unprecedented capital infusion by CANX of $40 million in funding to a joint venture with GrowLife and the extraordinary business opportunity of the legal cannabis marketplace, led our executive search to look outside of our core industry to candidates with exemplary business experience and strategic acumen. GrowLife is very fortunate to have Mr. Hegyi and his vast skills now dedicated to our core mission of expanding GrowLife shareholder value in the legal cannabis industry.”
Mr. Hegyi’s extensive background includes significant terms of management service and world class team building experience at market leading companies. Notably, Mr. Hegyi served as Senior Director of Global Product Management at Yahoo! and prior to Yahoo!, led Microsoft’s Partner Program management for Microsoft Windows, Office and server beta releases.
Mr. Hegyi holds a degree in Information and Computer Sciences from the University of California, Irvine, and has completed advanced studies in innovation marketing, advanced management, and strategy at Harvard Business School, Stanford University, UCLA’s Anderson Graduate School of Management, and MIT’s Sloan School of Management.
“During my business career I have actively participated in a number of tremendous market opportunities,” stated Hegyi. “I have worked through the formation of the PC industry, the Internet revolution and more. Today, I believe that the legal cannabis market is one of the greatest business opportunities. GrowLife has a unique leadership position in the industry and I welcome the challenge and the opportunity of our extending our leadership through the unprecedented $40 million capital infusion recently announced in GrowLife’s joint venture with CANX USA, LLC. I am very proud to accept this position and to serve the GrowLife Board of Directors in our mission to enhance shareholder’s value.”
At the same time that GrowLife welcomes Mr. Hegyi, the company extends its gratitude and best wishes to our interim president, Kyle Tracey, for his distinguished service to GrowLife over the past year, which included many accomplishments led by Mr. Tracey. Mr. Tracey has elected to leave GrowLife for an exciting new engagement in our industry that is pending announcement.
A GrowLife Investor Presentation can be viewed online at http://growlifeinc.com/growlife-presentations-october-2013/
From time to time, GrowLife will provide market updates and news via its websites GrowLifeInc.com, Cannabis.org or the Company’s Facebook page at https://www.facebook.com/tellthetruthfederalgovernment
For a GrowLife Investor Presentation visit: http://growlifeinc.com/wp-content/uploads/2013/05/PHOT-DECK-4_30_13.pdf
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) develops, markets and deploys products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The Company provides these solutions in our nationwide retail network, as well as online sites Greners.com, Phototron.com and 58Hydro.com. The Company also operates the political and social forum, Cannabis.org