Next Green Wave in Final Stages of Testing Prior To Occupancy Permit on Its Production Facility
Next Green Wave Holdings Inc. (CSE:NGW) (OTCQB:NXGWF) (“Next Green Wave”, “NGW”or the “Company”), is pleased to announce an update on the final stages of its 35,000 sq.ft production facility (site “A”) moving towards the granting of its final certificate of occupancy by the City of Coalinga.
Pacific Gas and Electric (“PG&E”) is in the final testing phase of the completion of the electrical installation which is expected to be carried out within a week. Thereupon, the Company can move forth with a scheduled final inspection of the facility conducted by the City of Coalinga in order to receive its occupancy permit. The permit is the final step to allow Next Green wave to begin production at the facility.
Next Green wave has completed the installation of dehumidifiers, lights, rolling benches, irrigation manifolds, water filtration, security and Co2 distribution systems. All systems are currently being tested and calibrated.
“After a very focused 11 months of build-out, we are now only weeks away from activating our operations in California and one step closer to becoming a fully integrated premium producer,” stated Leigh Hughes, CEO of Next Green Wave. “With the extreme weather challenges that PG&E have faced throughout the State of California in 2019, we are thankful for the extra attention they have placed on this project.”
After a detailed review, the Company would also like to announce that it has decided not to proceed with the acquisition of Loud Seeds, LLC as announced in a press release dated October 16, 2018. On January 8, 2019, the Company acquired an extensive catalogue of award-winning cannabis genetics and connoisseur seeds, this inventory will ensure that its end-product is that of a premium quality standard.
On behalf of the Board,
CEO and Executive Chairman, Next Green Wave Holdings Inc.
For more video content of the facility please follow the link: https://cdn2.hubspot.net/hubfs/4963091/videos/NGW_facility.mov
About Next Green Wave
Next Green Wave is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California. Construction of the company’s first state of the art indoor facility (35,000sf) is complete and nearing production with future plans for expansion on its remaining 15 acres of cannabis zoned land. NGW has acquired a seed library of over 120 strains which includes several award-winning genetics. Recently acquired SDC Ventures and its 8 brands and 45 products which will accelerate NGW to revenue in 2019 and compliment NGW’s branded products. The partnership with OMG will provide NGW access to distribution through the licensing of our brands through Colombia. To find out more visit us at www.nextgreenwave.comor follow us on Twitter at @nextgreenwave, on Instagram, and LinkedIn.
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.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. 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 the preliminary prospectus, 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 its proposed facilities in a timely manner; 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; 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 preliminary 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.
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