10:42 AM EST, 02/06/2025 (MT Newswires) -- Urban-gro (UGRO) said Thursday it has signed the construction phase of a $24 million design-build contract with a Midwest-based multi-state operator to build a vertically integrated cannabis facility.

The identity of the multi-state operator wasn't disclosed.

This follows the completion of the design and preconstruction phases, the company said, adding it expects to recognize revenue from the project this year.

Shares of Urban-gro fell about 8.4% in recent Thursday trading activity.

Price: 0.81, Change: -0.07, Percent Change: -8.42