VANCOUVER, British Columbia
-- August 23, 2019 -- InvestorsHub
NewsWire -- Next Green Wave Holdings Inc.
(CSE: NGW) (OTCQX: NXGWF) ("Next Green
Wave", “NGW” or the "Company") announces that it has
successfully completed its first premium cannabis flower harvest
and hit all major milestones to become fully operational this
month. All 14 flower rooms have now been stocked with plants, 6 of
which are in the flowering stage nearing harvest. This future
output will allow the Company to execute on its four revenue
segments; nursery, cultivation, extraction and product
distribution.
NGW Flower
Rooms
The Company’s first harvest
has passed strict California category three compliance testing and
received a Certificate of Analysis (COA)* free of any microbial,
mycotoxins, pesticides, heavy metals and foreign materials. All the
strains tested met premium quality industry standards for sale in
California. The lack of licensed premium flower for sale in
California opens the door for producers to take advantage of the
underserved market.
Highlights:
- First premium
cannabis harvest is ready for sale
- All 14 flowering
rooms are stocked
- 6 rooms are in the
flowering stage (approx. 70 days from flowering to harvest)
- Multiple rooms will
be ready for harvest in September 2019
- Several
dispensaries and wholesalers are awaiting NGW product
- All Company
operations at Facility A fully
licensed**
The Company’s next yield is
expected in the coming weeks and will be processed for sale and
distribution through the Company’s SDC Branding House (WEARESDC)
and partner brands; Loki the Wolf Dog, Carey Hart, King Louie,
Sketchy Tank, Junkyard LA, Toy Machine Skateboard, OSS, Thorn St.
Brewing and No Jumper.
“This is a significant
turning point for the company. The NGW team has worked steadfast to
get the facility built, operating and into revenue, and bring our
premium products and brands to market as quickly as possible,
kickstarting the beginning of our evolution. We are appreciative of
our supportive stakeholders and we look forward to a strong future
– one in which we are confident will be
rewarding.” -stated Mike Jennings, CEO.
Watch the full drone
footage of the facility here: https://www.globenewswire.com/NewsRoom/AttachmentNg/5c1a71ca-144e-40bd-aa48-ff2734458e0d
NGW Drone
Clip
In addition, the Company is
pleased to announce the following changes to its senior leadership
team:
Mr. Mike Jennings has been
appointed as the interim Chief Executive Officer coincident with
his role as Chief Operating Officer. As one of the Company’s
founders, Mike is ideally acquainted with all aspects of the
operation and is well suited to lead the Company through its next
phase of operations and earnings.
Mr. Matt Jewell, the
Company’s VP of Finance, has been appointed as Chief Financial
Officer. He has spent the last several years assisting companies in
emerging industries in the State of California scale from a
financial reporting, treasury, Human Resources, legal and
operational perspective. Before joining Next Green Wave 14 months
ago, Mr. Jewell spent the initial years of his career at KPMG where
he gathered his base knowledge of financial reporting, tax,
compliance, process and control implementation.
Mr. Ryan Lange, SDC’s
Co-Founder, has been appointed as the company’s Chief Marketing
Officer. Ryan is an entrepreneur with an extensive background in
creative arts, digital media and cannabis. Ryan’s work has been
featured on the Today Show, High Times, US Weekly, People Magazine,
Dr. Oz, Forbes and GQ among many others. Ryan has collaborated on
and launched major branding campaigns for some of the most
successful corporations in the country including Nike, Apple Music,
Harmless Harvest, Carhartt and Home Depot.
All three team members were
instrumental to Next Green Wave’s rapid development over the last
year and will continue to lead the company through this exciting
next stage of growth.
The following incidental
corporate appointments have also been made:
Paul Chow, Glen Harder and
Mike Jennings have been appointed to the Company’s Audit
Committee.
Monita Farris has been
appointed as Corporate Secretary.
About Next Green
Wave
NGW is a fully integrated premium cannabis producer with 8 legacy
brands and over 45 products through its subsidiary WEARESDC. Based in Coalinga, California the
company owns and operates a state-of-the-art cultivation facility
and is currently expanding operations on the cannabis zoned
property it is situated on. NGW has a seed library of over 120
strains which include multiple award-winning genetics and cultivars
and is developing its nursery cloning operations with bio-tech
leader Intrexon. The company also has an investment
in OMG to provide it with
further access to distribution throughout Colombia. To find
out more visit us at www.nextgreenwave.com or follow us
on Twitter, Instagram, or LinkedIn.
* BelCosta Laboratories
** For details please reference news release
dated May 23,
2019.
On behalf of the
board,
Paul Chow, Founding Director
Next Green Wave Holdings Inc.
For more
information regarding Next Green Wave, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
Next Green Wave Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of applicable securities laws. All statements that are
not historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts,
projections, objectives, assumptions, expectations or beliefs of
future performance, are “forward-looking statements.” Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
events or developments to be materially different from any future
results, events or developments expressed or implied by such
forward looking statements. Such risks and uncertainties include,
among others, the risk factors included in certain regulatory
filings, including without limitation dependence on obtaining and
maintaining regulatory approvals, including acquiring and renewing
state, local or other licenses and any inability to obtain all
necessary governmental approvals licenses and permits to complete
construction of all proposed facilities in a timely manner; actual
operating risks such as the risk of fire, pests and theft; engaging
in activities which currently are illegal under US federal law and
the uncertainty of existing protection from U.S. federal or other
prosecution; regulatory or political change such as changes in
applicable laws and regulations, including U.S. state-law
legalization, particularly in California, due to inconsistent
public opinion, perception of the medical-use and adult-use
marijuana industry, bureaucratic delays or inefficiencies or any
other reasons; any other factors or developments which may hinder
market growth; NGW’s limited operating history and lack of
historical profits; reliance on management; undue reliance on
social media influencers to drive product sales; NGW’s requirements
for additional financing, and the effect of capital market
conditions and other factors on capital availability; competition,
including from more established or better financed competitors; and
the need to secure and maintain corporate alliances and
partnerships, including with customers and suppliers. Readers are
encouraged to the review the section titled “Risk Factors” in NGW’s
prospectus. These factors should be considered carefully, and
readers are cautioned not to place undue reliance on such
forward-looking statements. Although NGW has attempted to identify
important risk factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other risk factors that
cause actions, events or results to differ from those anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in forward-looking statements. NGW no obligation to
update any forward-looking statement, even if new information
becomes available as a result of future events, new information or
for any other reason except as required by
law.