Cabinet Grow, Inc. Announces DTC Eligibility and Up-Listing Approval to OTCQB Marketplace

Upgrades Financial and Corporate Disclosures; Management Reiterates Debt Elimination Strategy

IRVINE, CA / ACCESSWIRE / August 27, 2015 / Cabinet Grow(R). (PINKSHEETS:CBNT), a developer and marketer of cabinet-based horticultural systems, announced the Company has secured eligibility by The Depository Trust Company (DTC) for its shares, effective August 26, 2015. Cabinet Grow also announced the Company has been approved to be up-listed to the OTCQB(R) Venture Marketplace and reiterated its strategy to be debt free in 90 days. The Company, based in Irvine, Calif., makes cabinet-based horticultural systems. The self-contained design and construction of the hydroponic and soil-based grow cabinets makes the process of home growing automated and simplified.

“We are pleased to announce that we have obtained DTC eligibility, while at the same time being up-listed to the OTCQB Marketplace,” said Sam May, chief executive officer of Cabinet Grow, Inc. “Cabinet Grow is committed to the high level of financial and corporate disclosure that is required for this listing category, and this is demonstrated in our rapid up-list to the OTCQB,” May said. “These accomplishments further validate our continued commitment to our shareholders and we believe that trading on the OTCQB and being DTC eligible will enhance trading liquidity and broaden our shareholder base as we continue to escalate market adoption of our horticulture products, solutions and related verticals.”

In addition, Cabinet Grow management has reiterated its strategy to eliminate corporate debt prior to year-end. The Company has finalized an agreement with its primary lender which limits debt conversions without the Company’s consent for 90 days following the agreement effective date and implements a maximum of $50,000 of debt conversions per month for three months beginning on day 91. There are no conversions in the 90 ninety days after effective date without Company approval.

“These milestones open the doors to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Electronic trading is the standard in today’s financial markets, and becoming DTC-eligible greatly simplifies the process of trading and exchanging our common stock. Meeting the increased compliance and information requirements of OTCQB provides our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency. We will continue working towards our goals of up-listing in the future to a stock exchange such as the NASDAQ. Our ability to set higher goals and standards as a company is a direct result of sustained guidance from trusted contractors and advisors such as; VStock Transfer Agents, Legal and Compliance, Brooks and Associates, and Barry Hollander our CFO. As a public company, we rely heavily on these relationships and are optimistic we can build a strong company culture rich with the same integrity and courage demonstrated by our partners that will continue to serve our shareholders for years to come,” May added.

About Depository Trust Company

The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.

About OTC Markets Group

In 2014, OTC Markets Group introduced standards and eligibility requirements for OTCQB with the goal of making it a better venture marketplace. To be eligible, companies must be current in their reporting to a U.S. or foreign regulator, pass a minimum bid price test of one penny ($0.01) and undergo an annual verification and management certification process providing additional information about the company’s insiders, advisors and share count. Companies that are approved to trade on OTCQB receive access to additional premium services to help them build visibility and improve transparency for investors.

About Cabinet Grow, Inc.

Cabinet Grow, Inc., through its predecessor Universal Hydro, began operations in California in 2008. In April 2014, the company changed its name to Cabinet Grow, Inc. and in May 2014 became a Nevada corporation. The Company, based in Irvine, Calif., makes cabinet-based horticultural systems. The self-contained design and construction of the hydroponic and soil-based grow cabinets makes the process of home growing automated and simplified. Our mission is to make hydroponic and soil growing simpler, more efficient and a better value than other products found on the market.

For more information, check out: http://www.cabinetgrow.com.

Forward-Looking Statements

Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Form 10-K filed on March 31, 2015, including but not limited to the discussion under “Risk Factors” therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.

Contact Information

Corporate Contact:
Cabinet Grow
17932 Sky Park Circle; Suite F
Irvine, CA 92614
888-54HYDRO (888-544-9376)
website: www.cabinetgrow.com
email: pressinquiry@cabinetgrow.com

Investor Contact:
Brett Maas
Hayden IR
brett@haydenir.com
646-536-7331

SOURCE: Cabinet Grow, Inc.

ReleaseID: 431584