Phototron Signed LOI to Acquire SG Technologies

The Los Angeles hydroponic grow box company Phototron Holdings, Inc., has signed a letter of intent (LOI) to acquire SG Technologies Corp., the manufacturer of hi-powered LED products sold under the Stealth Grow brand. The proposed merger is expected to close in the next 30 days in an all-stock transaction.

"The management team at Phototron is excited to announce the signing of an LOI with SG Technologies," said Craig Ellins, Phototron's CEO. "We expect the proposed merger to expand our current product offerings and provide additional financial strength as we look to integrate the Stealth Grow line, which is highly respected amongst top horticulturalists. We also anticipate exciting new product synergies as we combine Phototron's innovative hydroponic grow systems with Stealth Grow's industry-leading LEDs."

The proposed acquisition is expected to complement Phototron's existing direct sales and online initiatives for its innovative hydroponic grow systems, which are designed to serve both the $30 billion home gardening and $1.7 billion medical marijuana markets.

The completion of the acquisition is subject to certain conditions, including, but not limited to, the negotiation and execution of a definitive acquisition agreement and the approval by the Phototron's and SGT's respective boards of directors.

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