Next Green Wave Completes Construction of its Advanced Cannabis Production Facility in California
And Announces Management Repositioning to Spearhead Research and Innovation Division
Vancouver, British Columbia — January 14, 2019 — Next Green Wave Holdings Inc. (CSE:NGW) (OTCQB:NXGWF) (“Next Green Wave” or the “Company“), announces that it has completed all major structural construction on its first indoor cannabis production facility in Coalinga, California, and mobilized crews to connect all infrastructure to Pacific Gas and Electric’s (PG&E) power grid.
PG&E has commenced work to trench and install power cables from the local substation to connect to the facility. The installation is expected to be completed within a few weeks and will be subject to a final city inspection for the issuance of an occupancy permit. The permit is the final step to allow the Company to begin production.
Further to Next Green Wave’s facility update, the Company is pleased to announce a management repositioning to forge the Company’s new Research and Innovation division and accelerate its premium cannabis products to the market.
The Board has appointed Mr. Leigh Hughes as the Chief Executive Officer in addition to his position as Executive Chairman. Mr. Michael Jennings will transition into the role of Chief Operations Officer and Head of Research and Innovation.
Mr. Jennings commented:
This is a vital time for the Company as we move into the production phase, I’m excited to step into this new role to advance our research and development and push the innovation envelope to establish Next Green Wave as world-class nursery.
This is a major advancement having Michael become the head of operations and lead our new research and innovation division in developing new cultivars to add to our genetic archive. I’m looking forward to taking ownership of this additional role and focus my efforts on our growth strategy and mergers and acquisition opportunities.
said Leigh Hughes, Executive Chairman and Chief Executive Officer.
Next Green Wave is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California, one of the world’s largest cannabis markets. The Company’s central operations are in the city of Coalinga which is located between two major markets of San Francisco and Los Angeles and has been awarded licenses for nursery, cultivation, extraction, and distribution. Next Green Wave is led by an experienced management team with a focus on international brand development. The Company currently owns over 15 acres of cannabis-zoned development land and is nearing completion on its first proprietary engineered 35,000 ft² facility. To find out more visit us at www.nextgreenwave.com or follow us on Twitter at: @nextgreenwave, on Instagram, and LinkedIn.
On behalf of the Board,
Executive Chairman, Next Green Wave Holdings Inc.
For more information regarding Next Green Wave or the contents of this news release, contact:
VP Corp. Development
Tel: +1 (778) 589-2848
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Providers (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking information relating to the Company’s growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management’s future outlook and anticipated events or results, and may include statements or information regarding general market conditions; industry conditions; government regulation; unanticipated operating events of performance; the availability of capital on acceptable terms; stock market volatility; the Company’s ability to implement its business strategy, including the development of a world class nursery and new cannabis hybrids; the Company’s ability to source new business opportunities, including its ability produce and introduce new cannabis products into the California market in 2019; and the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers are cautioned not to place undue reliance on these forward-looking statements, which should not be construed as exhaustive and speak only as of the date of this News Release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.