Anaheim, California--(Newsfile Corp. - May 26, 2023) - GreenGro Technologies, Inc. (OTC Pink: GRNH), a leading provider of innovative eco-friendly agricultural technology solutions, commends the progress of Senate Bill 58 in the California State Senate, a significant step toward decriminalizing the possession of certain psychedelic substances. The bill, introduced by Senator Scott Weiner, paves the way for the legalization of psilocybin, psilocyn, dimethyltryptamine (DMT), ibogaine, and mescaline for individuals aged 21 and older. This development aligns perfectly with GreenGro Technologies' recent strategic decision to shift its focus away from cannabis and toward the global agricultural technology industry, with a special emphasis on culinary and medicinal mushrooms.
If approved by the State Assembly and subsequently signed into law by the governor, Senate Bill 58 will usher in a new era of research, exploration, and potential therapeutic applications for these psychedelics. GreenGro Technologies believes that the bill's provisions will unlock immense opportunities for the company to leverage its expertise in agricultural technology to support the cultivation, production, and distribution of culinary and medicinal mushrooms.
"We are thrilled to see the advancement of Senate Bill 58, which aligns perfectly with our strategic decision to refocus our business on the agtech industry and the burgeoning field of culinary and medicinal magic mushrooms," said James Haas, Chairman and COO of GreenGro Technologies, Inc. "This bill represents a significant step forward for psychedelic research and potential therapeutic applications. We are committed to utilizing our cutting-edge technologies and extensive knowledge in agriculture to contribute to the responsible development of this emerging industry."
Medicinal "magic" mushrooms, or psilocybin-containing mushrooms, have shown promise in various studies for their potential to treat mental health conditions such as depression, anxiety, and PTSD. By legalizing the possession of these substances, California would take a progressive step toward fostering a more comprehensive and holistic approach to mental health treatment.
Moreover, Senate Bill 58's repeal of laws prohibiting the cultivation of "spores or mycelium capable of producing mushrooms or other material which contain psilocybin or psilocyn" will further bolster GreenGro Technologies' initiatives in the cultivation and supply of magic mushroom-related products. As an agtech company dedicated to innovation, GreenGro Technologies is well-positioned to leverage its expertise and industry-leading solutions to support the responsible and sustainable growth of these crops.
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About GreenGro Technologies, Inc.
GreenGro Technologies, Inc. (OTC Pink: GRNH) is a leading provider of innovative eco-friendly agricultural technology solutions designed to optimize and improve the cultivation, production, and distribution of crops. With a strong focus on sustainability and cutting-edge technologies, GreenGro Technologies offers a comprehensive range of products and services that empower farmers and cultivators to achieve higher yields, reduce costs, and implement environmentally friendly practices. By leveraging its proven technologies, extensive expertise and industry-leading solutions, GreenGro Technologies expects to continue driving innovation and revolutionizing the agricultural industry. Additional details can be found by visiting the Company's website at www.greengrotech.com or calling investor relations at (818) 926-5441.
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