Urban-Gro enters non-binding LOI for sale of 2WR subsidiary

urban-gro (UGRO) entered into a non-binding letter of intent with CM Capital Management for the proposed sale of all assets of its architectural design subsidiary, 2WR of Georgia. Under the letter of intent, the Company received a refundable deposit of $500,000. Additional cash is expected to be paid at closing and upon achievement of certain pre-defined earn-out milestones. The transaction remains subject to the negotiation and execution of definitive agreements, completion of customary closing conditions, and final due diligence by both parties.