FOR IMMEDIATE RELEASE
Acquisition drives high margin services revenue and adds more than 70 open client projects
Acquisition further delivers on the company’s commitment to launch the industry’s first turn- key indoor ag facility solution for the Controlled Environment Agriculture (CEA) market
Lafayette, Colo. (June 29, 2021) – urban-gro, Inc. (Nasdaq: UGRO) (“urban-gro” or the “Company”), a leading global horticulture company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and integrates complex environmental equipment systems, today announced that it has agreed to acquire MJ12 Design Studio and parent company, 2WR+ Partners. urban-gro will fund the transaction of $9.1 million through a combination of cash and UGRO common stock, including contingent consideration of up to $2 million based on achievement of certain performance metrics. The company expects the transaction to be accretive to earnings in its current fiscal year.