Indoor Harvest Corp Announces Third Quarter Results

HOUSTON, Nov. 22, 2016 (GLOBE NEWSWIRE) -- Indoor Harvest Corp (OTCQB:INQD), through its brand name Indoor HarvestĀ®, is a full service, state of the art design-build engineering firm for the indoor and vertical farming industry. The company provides production platforms, mechanical systems and complete custom designed build outs for both greenhouse and building integrated agriculture grows, tailored to the specific needs of virtually any cultivar. The Company is pleased to provide a summary report of third quarter results for 2016.

Management will host a conference call on Thursday, December 1, 2016, at 2:00 PM EST, to discuss results, provide guidance and conduct a Q&A session for investors and analysts. Individuals interested in participating may dial in using the information below:

Dial In: (855) 551-1031Conference ID: 23475012

A recording will be made available to investors who cannot attend shortly after the call and will be posted to the Company Facebook and Twitter pages.

Potential Separation and Sale of Cannabis Operations

On August 22, 2016 we entered into a memorandum of agreement ("MOA") with Head North LLC ("Head North") to provide Head North with an exclusive period to negotiate an acquisition, merger, or joint venture, of our cannabis related operations in exchange for certain funding obligations. On September 2, 2016, the Company received an executed subscription agreement for $375,000 of our Series A Preferred shares related to the terms outlined in our MOA. On September 23, 2016, we issued a 30 day notice to Head North that we were terminating the agreement under Section VIII due to default under the terms of the MOA and a failure to fund its subscription.

The Company is currently actively pursuing separating its cannabis and produce operations as part of its growth strategy. As of the date of this Report, the Company is negotiating with multiple new groups for the potential merger, acquisition, or formation of a joint venture, to acquire our assets and operations related to cannabis. There is no guarantee that an agreement will be reached with any group we are currently negotiating with, or that the Company will be successful in its efforts to separate its cannabis and produce operations.