Next Green Wave Completes Power Installation
Momentum Public Relations
Press Release: April 8, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave“, “NGW” or the “Company”), is pleased to announce that Pacific Gas & Electric (“PG&E”) has successfully completed the electrical installation and connection to the transformer providing power to our 35,000ft.2 premium indoor facility and the entire cannabis zoned development property it is situated on.
Seven lots extending over 15 acres 100% owned by Next Green Wave, will have access to electrical services immediately. Expansion of our future cultivation footprint will allow for accelerated development, as well as enhancing our property value by bringing utilities to all parcels.
The Company will now commence final inspection during the second week of April to test the integrity of the electrical system of the building. All other testing from placement of security cameras, ventilation, bio-security, etc., have already undergone initial testing and have been approved. Upon receiving the final approval from the City, NGW will be in position to begin operations under a state cultivation license, joining the ranks of companies like Sunniva (CSE: SNN) CannaRoyalty (CSE: OH) and iAnthus (SCE: IAN).
Figure 1: Electrical outside the facility and internal systems connected to powergrid.
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“We are now in the very final stage of being approved to begin cannabis production,” stated Leigh Hughes, CEO of Next Green Wave. “The construction of our facility has been underway for nearly one year and it is extremely rewarding to see this facility operational and ready to bring premium cannabis products into the California market in 2019. We would like to thank city officials for their efforts in aiding Next Green Wave to become an official producer”.
On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
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 (35,000 ft.2) is now entering production with future plans to expand the 15 acres of cannabis zoned land it is situated on. NGW has acquired a seed library of over 120 strains which include several award-winning genetics and cultivars. Recent acquisition of SDC Ventures will complement NGW’s branded products and accelerate the company to revenue through SDC’ existing partnerships and labels. 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.
- Published in Cannabis, Marijuana, News Home, Next Green Wave
Next Green Wave’s Nursery Botticelli(TM) Research & Development Program Begins
Momentum Public Relations
Press Release: March 22, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave“, “NGW” or the “Company”), is pleased to announce that is has begun the optimization phase of the strategic licensing agreement with Intrexon Corporation (NASDAQ: XON) (“Intrexon”) to utilize Intrexon’s Botticelli™ next generation plant propagation platform to enable rapid production of Next Green Wave’s proprietary cannabis cultivars for the California market. The collaborative work conducted at Next Green Wave’s facilities will also accelerate its vision of becoming a world-class nursery.
California Market Plantelet Product Opportunity
In the U.S. market, legal cannabis revenue is projected to exceed $23 billion by 2022, with California estimated as representing around a third of that market. With estimated 57% compound annual growth rate and using 2 plants per Sq. Mt, we estimate a total market size of 50M plantlets in California by 2022. Cannabis cultivation is predominantly mediated through cloning, a process that is labor intensive, costly, and not sustainable due to the risk of disease susceptibility. In addition, plants derived from repeated cuttings lose vigor in performance.
Phase 1 – The Optimization Phase
As part of the first phase of the project, Next Green Wave will optimize Intrexon’s Botticelli™ technology to Next Green Wave’s specific cannabis cultivars. The Botticelli™ platform is an advanced tissue culture technology designed to enable efficient propagation of plants while maintaining genetic purity and product performance. It offers potential for a more sustainable, scalable, and more economical solution than conventional cloning approaches with cannabis.
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This will offer the cannabis market several advantages:
- Rapid multiplication of proprietary lines in smaller areas,
- Reduction or potential elimination of mother rooms,
- Substantially decreased cutting load on the mother plants ensuring genetic purity and product performance,
- Reduced phytosanitary risk and superior product performance,
- A more integrated production system and shorter time to vegetation room; ex., reduction or elimination for vegetative acclimatization step, and
- Capital efficiencies.
Upcoming Key Milestones in 2019
Next Green Wave will work to achieve the following;
- Utilize Next Green Wave’s hemp CBD strains as a proxy to optimize standard operating procedure (SOP)
- Complete tissue culture lab build out and become operational at Next Green Wave’s 3,240 sq. ft Site C facility.
- Optimize Botticelli™ SOP to Next Green Wave THC cultivars ready for scale-up production and commercialization.
“This program enables Next Green Wave to improve its library of award-winning premium genetics through a next-generation tissue culture platform, Botticelli™, and serves two vital functions for our company,” stated Mike Jennings, COO at Next Green Wave. “First, it is step toward ensuring that all of our flowering facilities are filled with the highest quality of nursery stock resulting in higher yields and overall cannabinoid content than traditional clones. Second, it offers the potential that our nursery will have state of the art top quality nursery stock to sell to other commercial growers, providing a long-term pathway to increase market share and revenue on a state wide scale.”
On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
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 complement 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.com or follow us on Twitter at @nextgreenwave, on Instagram, and LinkedIn.
Trademarks
Intrexon and Botticelli are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.
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.
For more information regarding Next Green Wave, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
- Published in Business, Cannabis, Marijuana, News Home, Next Green Wave
Next Green Wave in Final Stages of Testing Prior To Occupancy Permit on Its Production Facility
Momentum Public Relations
Press Release: March 20, 2019
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.
Figure 1
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“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,
Leigh Hughes
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.com or 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.
###
For more information regarding Next Green Wave, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
- Published in Cannabis, Marijuana, News Home, Next Green Wave
Next Green Wave
Next Green Wave (NGW:CSE NXGWF:OTCQB)
<< Next Green Wave aiming to be a world-class, vertically integrated cannabis powerhouse acquiring partnerships with OMG; a CBD growing operation in Columbia and acquiring SDC; a social media leader with a reach of 25 million people >>
“Not only does this acquisition (SDC) give us an array of premium brands associated with key world-renowned influencers to penetrate global markets, it also gives us increased distribution with revenues from sales, along with direct to consumer reach, relationships and specialty extraction methods. Having the opportunity to market through strategic brand partners to millions of validated and loyal followers is a big deal when marketing consumer products.” – Leigh Hughes, CEO of Next Green Wave
HIGHLIGHTS
- NGW is a fully integrated, seed-to-sale, retail cannabis company. They are focused distribution and product acquisitions and also the expansion of their existing large dispensary relationships
- It is licensed for medical and recreational cannabis operations in Coalinga, California, with four medical and recreational Conditional Use Permits (CUP’s) for cultivation, nursery, volatile & non-volatile extraction and distribution
- Two indoor operations totaling 85,000 square feet with plans to increase production facility capacity to 350,000 square feet.
- Composed of world class industry experts, including members of Loud Seeds, A cannabis seed brand inducted into the High Times Seed Bank Hall of Fame and has won the High Times Cannabis Cup 6 times since 2012!
- Raised more than $21M in 2019
- NGW acquired 100% of manufacturing and extraction leader, SDC, gaining eight leading cannabis brands with 45 cannabidiol and tetrahydrocannabinol products that have a combined global social influencer reach of over 25 million people and with more than 100 million YouTube views
- NGW makes a strategic investment in Organic Medical Growth (OMG), a Canada-based company focused on producing and commercializing CBD (cannabidiol) products derived from medicinal and industrial cannabis in Colombia.
Share Structure as of March 15, 2019 – MKT Cap – 80.8M – Shares out – 120.5M – Price – .67
CLOSER LOOK
On March 15th 2019 NGW announced its strategic investment plan with OMG to provide collaborative and commercial strategic support services which include 1. the adopting of nursery, cultivation and manufacturing techniques that will enable OMG to produce high-quality cannabinoid oil through large-scale production and in compliance with GMP (good manufacturing practices) standards. 2. planning and design of necessary infrastructure for its outdoor and indoor facilities. 3. licensing of Next Green Wave’s medicinal consumer product goods and brands across OMG’s entire distribution network subject to countrywide regulation approval. This partnership has positioned NGW to have a healthy equity position into OMG as well as a gateway to 7000 retail outlets in Columbia for NGWs brands. Having a 15% position in OMG puts NGW in a strategic influential position to bring OMG on the map with its competitors.
Leigh Hughes says “Pharmacielo (PCLO.TSXV – $943M market cap and $10.19) and Khiron Life Sciences (KHRN:TSXV – $308M market cap and $3.44) are two Colombian comparable for OMG.”
In addition to swift partnerships, on March 11th, 2019, NGW signed a definitive agreement to acquire 100 per cent of California-based SDC Ventures. This acquisition came at a price of $27 million and in return obtained the visibility of 25 million people through 8 established brands and influencers with major exposure on social media and 100+ million views on YouTube. Alongside the social marketing, SDC brings over 30 different types of extraction-based products across its 8 brand partners including everything from vape cartridges, rosins, ice water hash, tinctures, dog products, consumables as well as a number of CBD wellness and recovery products. Speciality extraction and manufacturing methods include ice water hash – the washing of the cannabis plant from whole plant fresh frozen material, rosin pressed from ice water hash and cannabis only terpenes that have a special process to end with a final result that has never been winterized. Next Green Wave plans to employ these new extraction methods and bring leading products to the market within the next three months.
Led by six-time Cannabis Cup High Times award winner, Mike Jennings, the team works to build strong industry partnerships to support the Seed-to-Consumer distribution. The use of Intrexon’s Botticelli’s plant propagation platform to enable the rapid production of proprietary cannabis cultivars for the California market is one of the agreements that will contribute to Next Green Waves vision of becoming a world-class nursery. “I have not seen advances with as much potential to be disruptive to plantlet production as the Botticelliâ„¢ technology and am looking forward to realizing its potential in collaboration with the talented Intrexon team.” Says Mike Jennings.
Alongside strategic acquisition, Next Green Wave sits on 15 acres of land zoned for cannabis production and manufacturing in Coalinga, California. The company’s first state-of-the-art facility on the property has been completed and is currently being hooked up to the power grid. A second facility for research and innovation is being retrofitted and expected to be ready for production in Q2 of 2019. In addition to the existing facilities, the company has the ability to add a further 250,000 sq ft greenhouse to its land parcel increasing its capacity to 350,000 sq ft. Next Green Wave is a vertically integrated business that holds many, difficult to acquire licences in the following categories; Indoor Cultivation – Adult Use (up to 15,000 ft²), Indoor Cultivation – Medical (up to 5,000 ft²), Nursery Adult, Nursery Medical, Distribution – Adult, Distribution – Medical, Volatile Extraction – infusion and manufacturing. The procurement of these licences puts NGW in a position to service the North American market, from seed to consumer and now soon the global market. The NGW master plan is currently being realized and, on its way, to being a world-wide operation in an industry that is ever-expanding. Think of putting it on the watch list…. just to see how high it goes.
- Published in Cannabis, Marijuana, Next Green Wave
Next Green Wave’s Strategy To Be A Cannabis Consumer Products Goods Leader In California
Momentum Public Relations
Press Release: March 18, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave“, “NGW” or the “Company”), is pleased to announce an update to its consumer products good strategy since announcing its 100% acquisition of California-based SD Ventures, LLC(“SDC”) on March 12, 2019. Next Green Wave’s acquisition of SDC and recent investment in Organic Medical Growth (“OMG”) now accelerates its path to revenues and the execution of its distribution and product development strategy throughout California.
Vision to be Number 1 in Cannabis Consumer Product Goods in California
Next Green Wave is now focused on integrating SDC’s 8 brands, 45 THC and CBD products, extraction and manufacturing team while calibrating its recently completed 35,000 sqft Facility A. With Pacific Gas & Electric now only weeks away from completion, Next Green Wave will bring its newly appointed Head of Extraction and Head of Manufaturing into its Facility A to integrate the appropriate standard operating procedures necessary to immediately fulfill the product demand from its distribution channels once Facility A has been granted final occupancy approval.
Next Green Wave’s 8 Brand Partners
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In the coming months, our Brand Partners product lines will be introduced into the California and online direct-to-consumer market in the United States. With a combined social media reach of over 25 million across the globe, these Brand Partners include;
- Carey Hart (https://www.instagram.com/hartluck/)
- Loki the Wolf Dog (https://instagram.com/loki)
- King Louie (https://www.instagram.com/___king__louie___/)
- Sketchy Tank (https://www.instagram.com/sketchy_tank/)
- Junkyard LA (https://www.instagram.com/junkyardla )
- Toy Machine Skateboard Co (https://www.instagram.com/toymachine/)
- SD Cannabis (http://instagram.com/weare.sdc) (https://instagram.com/sdcannabis)
- OSS (https://www.instagram.com/onsomeshit/)
- Thorn St. Beer (https://www.instagram.com/thornbeer/)
“This is a very exciting but important time for Next Green Wave as we now enter the execution phase of our wider strategy of being a premium producer of high quality downstream products into the California market,” stated Leigh Hughes, CEO of Next Green Wave. “Our recent acquisition of SDC fast tracks our vision to be a powerhouse in consumer products goods in cannabis, and the whole combined team is focused on activating operations, generating revenue through sale of our first products, and establishing our distribution network..”
Geographic Expansion Through Brand Licensing Opportunities
As the global cannabis landscape continues to expand in 2019, Next Green Wave will take advantage of specific international markets that will allow our brands and products to be licensed through other respectable international partners. The closing of our investment and strategic partnership with Organic Medical Growth will see our distribution channel expand by over 7,000 pharmacies in Colombia through a brand licensing agreement with OMG.
To ensure that OMG enters the market with premium products, Next Green Wave will provide our expertise and services to ensure that OMG’s nursery, cultivation and extraction techniques are of the highest standard. NGW has begun providing advisory services to work in parallel with the OMG team in preparation for the development of OMG’s integrated operations. In 2019, NGW will provide a range of products to be sold through the OMG distribution channels.
Next Green Wave’s Colombian Partnership
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On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
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.
###
For more information regarding Next Green Wave, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
- Published in Cannabis, Marijuana, News Home, Next Green Wave
Next Green Wave Enters into Definitive Agreements with Organic Medical Growth (OMG)
Momentum Public Relations
Press Release: March 15, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave” or the “Company”), is pleased to announce the signing of definitive agreements in respect of its previously announced transaction to take a strategic investment in Organic Medical Growth OMG3 INC. (“OMG“), a Canadian based company focused on producing and commercializing CBD products derived from medicinal and industrial cannabis in Colombia.
Next Green Wave now has access to the Colombian cannabis market which has an estimated potential to supply medicinal cannabis to 6 million patients. Through OMG’s current distribution channel of 7,300 pharmacies, Next Green Wave has the opportunity to license its collection of brands and products into the Colombian market.
Organic Medical Growth Company Update
OMG, with its experienced management team, continues to execute according to its strategic roadmap. Further developments that have taken place since the signing of the memorandum of understanding between the parties on February 14, 2019 include the following:
- OMG has signed a joint venture with Cannabolland Cluster S.A.S (“Cannabolland”), a vertical biotech cluster based in Piedemonte Llanero region, Meta (Colombia) that groups companies with cannabis licenses with the aim of structuring the companies, consolidating the licenses, providing technical knowledge and infrastructure. As per the joint venture agreement, OMG has now access to the planned production of cannabis on 5,000 hectares of land with possible extension of the cultivation licenses for all types of production to the geographical area of the cluster (up to 12,000 acres). The six companies within Cannabolland, that include 2,500 associated growers, have 3 psychoactive (THC) and 3 non-psychoactive (CBD) licenses, as well as 2 transformational (extraction) licenses. In collaboration with its strategic and distribution partner Ortix S.A.S,
- OMG is working on the launch of 9 cannabis-based topical products under the OMG brand. The first 2 products from the OMG portfolio in Colombia will be distributed across Ortix network of 7,300 stores within the next 60 days.
OMG is actively pursuing a go-public transaction and focusing on becoming a significant producer and supplier of medicinal cannabis products and services in Colombia alongside companies such as PharmaCielo and Khiron Life Sciences Corp. OMG is positioning itself to become one of the lowest costs, high-margin businesses operating in Colombia while delivering premium quality cannabis products to their consumers.
“To see how quickly OMG is growing their business opportunities in Colombia is exciting for Next Green Wave,” stated Leigh Hughes, CEO of Next Green Wave. “As OMG grow their distribution channels, it opens up the platform for our brands outside of California and gives us scope to do more in a low-cost, high-margin environment in Colombia.”
Terms of the Definitive Agreements and Strategic Partnership
Under the terms of the Investment Agreement, Next Green Wave will participate as follows:
- Invest in 2,000,000 common shares of OMG at CAD$0.25 per share for a total amount of CAD$500,000 under a subscription agreement with OMG
- Receive an additional 4,300,600 common shares representing 10% of the share capital of OMG post it’s first round of financing, in exchange for NGW’s provision of collaborative and commercial strategic support services under a services agreement, as described further below
- Receive an option to purchase 2,395,000 shares of OMG CAD$0.50 per share, or such other number of shares equivalent to 5% of the share capital following its first round of financing
The Agreement is based on the expectation that OMG will complete its Initial Public Offering (IPO) in 2019 and is also subject to the approval of the Canadian Securities Exchange.
In consideration of the common shares issued in the capital of OMG, Next Green Wave will collaborate and provide commercial strategic support to OMG through a License and Service Agreement, including the following:
- Adopting of nursery, cultivation and manufacturing techniques that will enable OMG to produce high quality cannabinoid oil through large scale production and in compliance with GMP standards;
- Planning and design of necessary infrastructure for its outdoor and indoor facilities; and
- Licensing of Next Green Wave’s medicinal consumer product goods and brands across OMG’s entire distribution network subject to countrywide regulation approval.
Next Green Wave’s Executive Chairman and CEO, Leigh Hughes will also be appointed to the advisory board of OMG and is expected to be appointed as a full board member of OMG as part of its going public transaction.
On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
About Next Green Wave
Next Green Wave (NGW) is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California – the world’s largest cannabis market. NGW has acquired licenses for its nursery/breeding, cultivation, extraction, and distribution operations covering both medical and recreational cannabis production and services. Construction of the indoor facility (35,000 ft²) has been completed and is now moving into the production phase. NGW will be pushing the innovation envelope with its current assemblage of strong brands and partnerships as well as continue to forge new brands that can be distributed across the globe. NGW has a library of more than 120 genetic cannabis strains which include several cannabis cup award winning genetics. The company currently owns 15 acres of cannabis-zoned land in Coalinga, California and is positioned for future growth and development. To find out more visit us at www.nextgreenwave.comor follow us on Twitter at @nextgreenwave, on Instagram, and LinkedIn.
About Organic Medical Growth OMG3 Inc.
OMG is a Canadian investment holding company focused on the production and distribution of cannabidiol (CBD oil) for medicinal purposes, sourced from organic certified farms in Colombia, as well as the distribution of cannabis-based medicinal products in Colombia and other markets. Through its joint venture agreements in Colombia, OMG has access to cultivation and transformation licenses and has an established distribution network through a strategic partnership in Colombia. To find out more visit www.organicmedicalgrowth.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.” 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.
For more information contact:
Next Green Wave
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
Organic Medical Growth OMG3 Inc
Jorge Diaz
President & CEO
Tel: +1 (514) 777 7627
IR@organicmedicalgrowth.com
- Published in Business, Cannabis, Marijuana, Medical Marijuana, News Home, Next Green Wave
Next Green Wave Acquires for $27 Million 100% of California-Based Consumer Products Goods and Extraction Leader, SD Cannabis
Momentum Public Relations
Press Release: March 12, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave” or the “Company”), is pleased to announce that it, together with its US subsidiary Crossgate Capital US Holdings Corp. have signed a definitive agreement (the “Agreement”) dated March 11, 2019 to acquire 100% of California-based SDC Ventures, LLC (“SDC”) (the “Transaction”). SDC is a premium cannabis consumer products goods, manufacturing and extraction leader, having 8 leading cannabis brands with 45 CBD and THC products that have a combined global social influencer reach of over 25 million people and with 100+ million YouTube views.
SDC (WEARESDC) is a team of brand building, cannabis consumer product goods, manufacturing and extraction professionals, that have decades of experience in cannabis in California. SDC has a growing network of retail and online sales channels including 700 Zumiez stores which compliments Next Green Wave’s current distribution opportunities.
Image 1
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“The SDC team shares our vision and provides expertise that is synergistic to that of Next Green Wave – to be the number 1 cannabis consumer products goods company in California,” stated Leigh Hughes, CEO of Next Green Wave. “Not only does this acquisition give us an array of premium brands associated with key world-renowned influencers to penetrate global markets, it also gives us increased distribution with revenues from sales, along with direct to consumer reach, relationships and specialty extraction methods. Having the opportunity to market through strategic brand partners to millions of validated and loyal followers is a big deal when marketing consumer products.”
Image 2
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BRANDS PARTNER LICENSES & PRODUCTS ACQUIRED
SDC’s selection of exclusive licensing relationships are defined by their connection to a core loyal global audience, their reach across digital/social platforms and their ability to partner on product development and marketing. With the Brand Partners below, over 45 CBD and THC products have been acquired that cater to the entire cannabis user market, including pets, in California and other parts of the world;
- Carey Hart (https://www.instagram.com/hartluck/)
- Husband to multi Grammy winning artist Pink and as a former professional freestyle motocross rider, Carey Hart has been a fixture among motocross competitions including Gravity Games, X Games, AMA Super Moto Series and Tony Hawk’s Boom Boom Tour.
- Loki the Wolf Dog (https://instagram.com/loki)
- Kelly Lund and Loki became inseparable in 2012, when he brought the husky/wolf mix puppy home. Ever since then they have been traveling the world and sharing their story with millions of people through social and most recently in their newly released book, Wild Together. Kelly has used his platform to bring awareness to key animal issues and has also partnered with some of the world’s largest brands including Toyota, Huckberry, REI and many others.
- King Louie (https://www.instagram.com/___king__louie___/)
- King Louie is a Grammy nominated, up and coming hip hop artist that was cited by Spin magazine for making Chicago the biggest hip-hop scene in 2012. He regularly works in collaboration and tours with artists like Kanye West and Chance the Rapper. Currently in the recording studio, King Louie is expected to release the biggest album of his career in 2019 with major collaborations.
- Sketchy Tank (https://www.instagram.com/sketchy_tank/)
- Internationally recognised artist who started his illustrations as a blog that quickly took off in the underground scene. Now his brands are widely recognized, and available at the retailer Zumiez, now carrying the Lurking Class line of clothing across their nearly 700 brick and mortar stores and online.
- Junkyard LA (https://www.instagram.com/junkyardla)
- Junkyard is an illustrator and street artist who was born and raised in South Africa now splitting his time between Chicago and LA. Known for some of his larger than life black and white murals and clothing he has teamed up with some of the biggest brands in the game.
- Toy Machine Skateboard Co (https://www.instagram.com/toymachine/)
- Toy Machine has been building their reputation and acquiring a loyal fan base for over twenty years. The company, founded by Ed Templeton, is owned under distribution company Tum Yeto. Toy Machine is widely known for its alien-like graphics designed by Templeton. The company is a strong leader in the skateboard industry, and they show no signs of slowing down.
- SD Cannabis (http://instagram.com/weare.sdc) (https://instagram.com/sdcannabis)
- Two of SD Cannabis’ founders built a massive following and fan base with their custom Harley shop San Diego Customs. Known in the industry as one of the premier motorcycle shops in the world, they regularly partner with Harley Davidson to help give its production bikes the edge needed to make some noise among hard core riders.
- OSS (https://www.instagram.com/onsomeshit/)
- ONSOMESHIT or OSS as it is called, has grown into a mega brand of its own over the last few years. It started in a small BMX stop on Melrose Ave, LA next to the famed BAIT store. In that shop the team started to interview BMX pros and music celebrities when in town on their podcast called @NOJumper, that quickly grew in following to well over 1 Million followers on Instagram.
- Thorn St. Beer (https://www.instagram.com/thornbeer/)
- Thorn Brewing was born out of the craft beer movement that has taken the US by storm. Started in the craft beer capital of America, San Diego, their growth has continued with distribution throughout California and plans for national distribution in 2019. Their new state-of-the-art brewery has become a must see stop for beer fanatics that come to San Diego to experience some of the world’s best beer. They were also the first brewery to make a terpene infused beverage.
“We are excited to join forces with Next Green Wave, which is arguably one of the leading cannabis innovators in California,” said Ryan Lange, SDC co-founder. “This transaction will allow the SDC team to capitalize on its decades of cannabis expertise in California and to rapidly expand our brands, distribution channels and manufacturing expertise across the state and into international markets. Next Green Wave brings world-class leadership and coupled with our common values as innovators, we believe by joining forces we can accelerate our proposition to become a serious cannabis consumer product goods company.”
ACCELERATING MANUFACTURING THROUGH ACQUISITION
SDC brings years of experience in cannabis manufacturing and extraction processes that give an edge and creative ability to experiment with new methods in production of finished products. As part of this transaction, the SDC team will immediately become the Head of our Extraction and Manufacturing unit within our 3,240 sq. ft facility. Speciality extraction and manufacturing methods include ice water hash – the washing of the cannabis plant from whole plant fresh frozen material, rosin pressed from ice water hash and cannabis only terpenes that have a special process to end with a final result that has never been winterized. These artisanal methods will have an immediate impact on new products that Next Green Wave will now bring to market within the next three months.
As part of this transaction, SDC brings over 30 different types of extraction-based products across its 8 brand partners including everything from vape cartridges, rosins, ice water hash, tinctures, dog products, consumables as well as a number of CBD wellness and recovery products.
TRANSACTION DETAILS
The purchase will be completed through the Company’s wholly-owned subsidiary Crossgate Capital US Holdings Corp. The total value of this transaction is $20.6 million in cash, shares and performance shares to be earned over the next three years and will be payable as follows (all cash amounts in US currency):
a) $600,000 on closing of the Transaction, to be satisfied by either, at the sole discretion of the SDC Securityholders, (i) cash to be fully paid within the sixty (60) days of CSE approval of the Transaction; or (ii) Next Green Wave Shares each at a deemed price of the volume weighted average price of the Company’s shares as traded on the Canadian Securities Exchange for the 20 day period (the “20 Day VWAP“) prior to the Closing Date; and
b) $4,000,000 on completion of the transfer of all rights and titles of the assets of SDC, to be satisfied by the issuance of Next Green Wave Shares each at a deemed price of the 20 Day VWAP prior to the date of completion.
In addition, to the above, if certain performance metrics are met, additional consideration will be paid as follows:
c) $750,000 on execution of the reassignment of each of the eight (8) definitive partnership agreements to a maximum of $6,000,000 to be satisfied by the issuance of Next Green Wave Shares each at a deemed price of the 20 Day VWAP on the date of execution of each such partnership agreement;
d) $5,000,000 at the end of the period beginning one-hundred and twenty (120) days after Closing (“Year 1“) on achieving net sales targets, to be satisfied by the issuance of Next Green Wave Shares each at a deemed price of $1 per Next Green Wave Share; and
e) $5,000,000 at the end of the twelve (12) month period immediately following Year 1 on achieving year 2 net sales targets, to be satisfied by the issuance of Next Green Wave Shares each at a deemed price of $1 per Next Green Wave Share.
Each of the above performance metrics allow for a pro-rata amount to be paid for partial completion of the metric. In the case of the performance metrics relating to net sales, in order for the 10,000,000 shares to be issued under (d) and (e) above SDC will be required to achieve $50,000,000 in net sales.
Each of the SDC Securityholders have entered into an Escrow Agreement such that the Next Green Wave Shares issued will continue to be held in voluntary escrow and released over a 36-month period and pursuant to the terms of those escrow agreements. This transaction is an arm’s length transaction.
The Company has agreed to pay finders’ fees to certain finders equal to approximately 3.6% of the value of the transaction to be paid according to the schedule of closings set out above.
The above transaction and finders’ fees are subject to the acceptance of the Canadian Securities Exchange.
APPOINTMENT OF HYBRID FINANCIAL FOR INVESTOR RELATIONS SERVICES
The Company has also appointed Hybrid Financial Services of Toronto, Ontario as investor relations consultants, to provide comprehensive investor relations services coverage across both Canada and U.S market. The Company will issue $150,000 worth of shares at a price of $0.67 CAD as compensation for a six-month marketing agreement. The shares are subject to a four-month hold period.
ABOUT NEXT GREEN WAVE
Next Green Wave (NGW) is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California – the world’s largest cannabis market. NGW has acquired licenses for its nursery/breeding, cultivation, extraction, and distribution operations covering both medical and recreational cannabis production and services. Construction of phase one of the indoor facility (35,000 ft²) has been completed and is now moving into production of premium cannabis products. NGW will push the innovation envelope and will develop premium brands that can be distributed across the globe. NGW has a library of more than 120 genetic cannabis strains which include several cannabis cup award winning genetics. The company has acquired over 15 acres of cannabis-zoned development land in Coalinga, California, providing future growth. To find out more visit us at www.nextgreenwave.com or follow us on Twitter at @nextgreenwave, on Instagram, and LinkedIn.
ABOUT SD CANNABIS
SD Cannabis (SDC) specializes in developing extraction and manufacturing methods that focus on maintaining the quality and natural benefits of cannabis. Through its use of the most sophisticated equipment available, the team takes a scientific approach to capturing all of the active available cannabinoids in the plant and then integrates those ingredients into products without adding other artificial or dangerous fillers. In addition, SDC’s leadership team brings decades of experience in developing, launching and marketing brands across the landscape of culture, art, music, action sports, and fashion with a core understanding of how to leverage the power of today’s influencers to drive consumer demand and product innovation. To find out more, visit us at www.wearesdc.com and on Instagram.
On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
For more details on this release please click on the following video interview:
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https://www.youtube.com/watch?v=MemRxjNnpEU
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.
For more information regarding Next Green Wave, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
- Published in Cannabis, Marijuana, News Home, Next Green Wave
Final Regulatory Approval of Conditional Use Permits for Next Green Wave’s Extraction and Innovation Facility
Momentum Public Relations
Press Release: March 8, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB:NXGWF) (“Next Green Wave” or the “Company”), is pleased to announce that it has received final regulatory approval from the City of Coalinga for its Conditional Use Permits (CUP’s) for nursery and both volatile and non-volatile extraction operations on its 3,240 ft² indoor facility (Site ‘C’). The Company has also begun construction according to the approved site design by the City of Coalinga on February 26th, 2019.
“Obtaining final regulatory approval and beginning construction on Site C sees us meeting yet another key milestone for the Company,” stated Leigh Hughes, CEO of Next Green Wave. “We have to again thank the City of Coalinga for assisting us throughout this process and supporting us in getting the second facility operational in the coming months.”
To date Next Green Wave has been issued the following:
35,000 ft² Facility A
- Indoor Cultivation License (medical and adult)
- Nursery License (medical and adult)
- Distribution License (medical and adult)
- Volatile Extraction License
- Non-volatile Extraction License
3,200 ft² Facility C
- Non-Volatile Extraction CUP
- Volatile Extraction CUP
- Nursery CUP
The Company also announces that pursuant to its Stock Option Plan, it has granted 1,000,000 stock options at a price of $0.60 per common share to an advisor of the Company. As per the Company’s Stock Option Plan, the 1,000,000 of the options granted are exercisable until March 7, 2022. The Options and underlying common shares are subject to vesting periods as determined by the Board. Grant of the options is subject to the approval of the CSE.
About Next Green Wave
Next Green Wave (NGW) is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California – the world’s largest cannabis market. NGW has acquired licenses for its nursery/breeding, cultivation, extraction, and distribution operations covering both medical and recreational cannabis production and services. Construction of phase one indoor facility (35,000 ft²) is nearing completion and will produce premium cannabis products. NGW will push the innovation envelope and will develop premium brands that can be distributed across the globe. NGW has a library of more than 120 genetic cannabis strains which include several cannabis cup award winning genetics. The company has acquired over 15 acres of cannabis-zoned development land in Coalinga, California, providing future growth. 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,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
- Published in Cannabis, Marijuana, News Home, Next Green Wave
Next Green Wave Signs MOU with Organic Medical Growth to Enter the Colombian Medical Cannabis Market
Momentum Public Relations
Press Release: February 14, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave” or the “Company”), is pleased to announce that it has entered into a memorandum of understanding “MOU” to take a strategic investment in Organic Medical Growth OMG3 INC. (“OMG”), a Canadian based company operating a wholly owned Colombian subsidiary called Proymed S.A.S “Proymed”. Proymed is a medical cannabis company focused on producing and commercializing non-psychoactive (CBD) products derived from medicinal and industrial cannabis. Proymed is finalizing its transformation and psychoactive (THC) licenses in Colombia as well as finalizing international distribution agreements.
Subject to completion of a definitive agreement and applicable regulatory approvals including the approval of the Canadian Securities Exchange, Next Green Wave will have access to the Colombia cannabis market which has an estimated potential to supply 6 million patients.
As well as taking this strategic investment, Next Green Wave will collaborate and provide commercial strategic support to OMG, through Proymed, including the following:
- Adoption of nursery, cultivation and manufacturing techniques that will enable OMG to produce high quality cannabinoid oil through large scale production and in compliance with GMP standards;
- Planning and design of necessary infrastructure for its outdoor and indoor facilities; and
- Licensing of Next Green Waves medicinal consumer product goods and brands across OMG’s entire distribution network subject to countrywide regulation approval.
Positioned to be the Lowest-Cost High-Margin Colombian Producer
OMG is actively pursuing an IPO and focusing , through Proymed, on becoming a significant producer and supplier of medical cannabis products and services in Colombia alongside companies such as PharmaCieloand Khiron Life Sciences Corp. OMG is positioning itself to become one of the lowest cost, high margin businesses operating in Colombia model while delivering premium quality cannabis products to their consumers.
OMG has a defined strategic roadmap with a highly experienced management team. Key highlights from OMG’s unique offering include the following:
- OMG, through Proymed, has an exclusive offtake agreement to purchase the entire cannabis production of the Asomiravalle Norte Association. This association of 28 producers is located in the state of Valle Del Cauca. The association’s activities span across 100 hectares of land with the option to expand the production to 1000 hectares over the next 10 years.
- OMG has an exclusive distribution agreement with SALUTTI S.A.S. who owns 100% of ORTIX S.A.S.
- ORTIX S.A.S. gives OMG exclusive distribution of cannabis products to its network of over 7000 pharmacies in Colombia.
- OMG is developing its distribution channels to export cannabis products in other established markets including Germany.
“We are excited to become a strategic partner of OMG as they position themselves to be a leader in the production and distribution of medical cannabis in Colombia,” stated Leigh Hughes, CEO of Next Green Wave. “With the likes of PharmaCielo Ltd. and Khiron Life Sciences Corp gaining recent global exposure in the cannabis world, it is clear that Colombia has brilliant potential for a low-cost, high-margin business model. Our partnership will benefit both parties by accelerating OMG to become a leader in the Colombian market whilst giving Next Green Wave future licensing opportunities and distribution beyond the California market.”
“We are very pleased to further position ourselves in the Colombian cannabis industry. The country has some of the best cultivation environments in the world and with the current legal framework, Colombia could soon become the world’s leader in both production and export of medicinal cannabis. OMG’s strategic alliance with Next Green Wave will act as a springboard to kickstart our operations both in Colombia and internationally,” said Jorge Diaz, CEO of OMG. “The expertise, know-how, and product lines Next Green Wave have developed will allow OMG to expedite its go to market strategy and we look forward to fully use the synergy of our teams as we plan to go public.”
On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
For the full video interview please select the image below:
Cannot view this video? Visit:
https://www.youtube.com/watch?v=uJFw1Hswv-Q
About Next Green Wave
Next Green Wave (CSE: NGW) is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California – the world’s largest cannabis market. NGW has acquired licenses for its nursery/breeding, cultivation, extraction, and distribution operations covering both medical and recreational cannabis production and services. Construction of phase one indoor facility (35,000 ft²) is nearing completion and will produce premium cannabis products. NGW will push the innovation envelope and will develop premium brands that can be distributed across the globe. NGW has a library of more than 120 genetic cannabis strains which include several cannabis cup award winning genetics. The company has acquired over 15 acres of cannabis-zoned development land in Coalinga, California, providing future growth. To find out more visit us at www.nextgreenwave.com or follow us on Twitter at @nextgreenwave, on Instagram, and LinkedIn.
About Organic Medical Growth OMG3 Inc.
OMG, through its wholly owned subsidiary Proymed, is focused on becoming a global leader in the production and distribution of cannabis products. Proymed has secured agreements for the production and distribution of non psychoactive cannabis in Colombia. Proymed is finalizing its transformation and psychoactive licenses in Colombia as well as finalizing international distribution agreements. To find out more visit us at www.organicmedicalgrowth.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.” 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.
###
For more information regarding Next Green Wave, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
For more information regarding Organic Medical Growth OMG Inc., contact:
Jorge Diaz
CEO
Tel: +1 (514) 777 7627
IR@organicmedicalgrowth.com
- Published in Business, hemp, Marijuana, News Home, Next Green Wave
Next Green Wave Announces DTC Eligibility
Momentum Public Relations
Press Release: February 07, 2019
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave” or the “Company“), a Canadian based California operating cannabis company established to provide premium products and brands to both medicinal and adult use consumers, confirms that its OTCQB listed common shares under the symbol NXGWF are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC“) in the United States.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. Being DTC eligible is expected to greatly simplify the process of trading and transferring the Company’s common shares on the OTCQB.
“As a direct result of NGW’s DTC eligibility, the Company is now accessible to all US investors and institutions and allows the Company’s trading in the capital markets to be strengthened. NGW have a significant and constantly expanding following out of the US and enhancing our exposure for further investment is exciting.” stated Leigh Hughes, CEO of Next Green Wave.
ABOUT NEXT GREEN WAVE HOLDINGS INC.
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,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.
For more information regarding Next Green Wave or the contents of this news release, contact:
Caroline Klukowski
VP Corp. Development
Tel: +1 (778) 589-2848
IR@nextgreenwave.com
- Published in Business, Marijuana, News Home, Next Green Wave