CO2 Gro Inc.

TORONTO, ON / ACCESSWIRE / August 10, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce the signing of a non-exclusive sales partnership agreement with Spain based Jose Andres Garcia Munoz ("Jose Andres"). Jose Andres is a Spanish horticulture and berry industry veteran who has widespread contacts in the Spanish protected agriculture market. His expertise is in helping protected agriculture operators improve cultivation practices and yields using new technologies.

Jose Andres will focus on Spain's protected ag facilities (greenhouse, tunnels, shade & net house, indoor vertical etc.) and crops including floriculture, fruits & vegetables, and other protected grown value crops. He will represent GROW at Spanish tradeshows, be a liaison with Ag tech demonstration centres and with local contractors to install CO2 Delivery Solutions™ for commercial feasibilities and sales.

The non-exclusive agreement has a one-year term that automatically renews unless 90-day notice is given. This is GROW's first sales relationship in Spain.

Spain's Protected Ag Market

According to the INE (National Institute of Statistics) in 2019, Spain had about 75,000 hectares of protected ag facilities growing fruits and vegetables. Tomatoes (18,010 ha) and peppers (14,486 ha) were the top two plants grown in greenhouses followed by watermelon, squash, strawberries and cucumbers.

Spain's greenhouses are classified as elemental (30,217 ha), simple (41,115 ha) and high-tech (3,292 ha), with the region around Almeria having the largest concentration of greenhouses in the world (7,389 ha elemental, 24,839 ha simple and 830 ha high tech). Generally, only high-tech greenhouses have the capability of enriching their grow rooms with CO2 by gassing.

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Satellite image of the over 30,000 hectares of greenhouses in the Almeria region in Spain (credit Copernicus EU).

Aaron Archibald, VP Sales & Strategic Alliances stated, "We are very happy to welcome Jose Andres as our latest international sales partner with responsibility for Spain. As the second largest protected ag market in the world, along with Mexico, it is critical to CO2 GRO's sales strategy to establish a presence in the country. We began our research on Spain's greenhouse market with a local consultant in Q4, 2020 and a search for a local partner in Q1, 2021. We virtually met with Jose Andres at the Morocco berries conference in April where he was researching precision ag technologies such as CO2 Delivery Solutions™ for the Spanish greenhouse market."

Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™ or  watch this video. To see a CO2 Delivery Solutions™ VCO2 system installation,  watch this video.

About CO2 GRO Inc. (https://www.co2gro.ca/)

GROW's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2019). We create a saturated CO₂ solution that when misted onto plants provides growers that cannot gas with CO₂ the opportunity to increase plant yields by up to 30% and profits by up to 100%. Applying saturated CO₂ also suppressed the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses. GROW's CO2 Delivery Solutions™ is protected by a suite of patents and patents pending.

The worldwide market for GROW's disruptive CO2 Delivery Solutions™ technology is the 50 billion square feet of greenhouses and 550 billion square feet of protected agriculture facilities (Cuesta Roble 2019). Growers can maximize revenue and profits with our systems' low fixed and variable costs and ease of systems installation.

GROW's management is rapidly expanding its international marketing partner relationships into the EU, the UK, South Africa, the Middle East, South East Asia, Mexico and Latin America as well as in its North American base.

GROW is committed to good Environment, Social and Governance (ES&G) policy and practices. We are an equal opportunity employer of choice and opportunity.

Our mission is to accelerate the growth of all value plants safely, economically, naturally and sustainably using our patented advanced CO2 Delivery Solutions™ while accreting value to our customers, stakeholders and shareholders.

Forward-Looking Statements

This press release contains statements which constitute "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward‐ looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: statements regarding the future direction of the Company; the ability of the Company to successfully achieve its business and financial objectives; plans for expansion and the ability of the Company to obtain, develop and foster its business relationships; and expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward‐looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates that management considered reasonable at the date the statements are made. Such assumptions include but are not limited to: general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and technology offered by the Company's competitors; and that good relationships with business partners will be maintained. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the biotechnology industry and the greenhouse growers market are highly competitive, and technical advances in the industry will impact the success of the Company, and other risks described in the Company's filings that are available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please visit www.co2gro.ca or contact Michael O'Connor, Manager, Investor Relations at 604-317-6197 or michael.oconnor@co2gro.ca

SOURCE: CO2 Gro Inc.

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