Momentum Public Relations
Press Release: October 16, 2018
Next Green Wave Holdings Inc. (CSE : NGW) (“Next Green Wave” or the “Company“), is pleased to announce that it has entered into a letter of intent (“LOI“) whereby the Company intends to acquire 100% of Loud Seeds, LLC (“Loud Seeds”) along with the Loud Seeds brand and all of its related assets (the “Transaction“). As consideration for the Transaction, Next Green Wave intends to distribute $2,000,000 in common shares of the Company to the shareholders of Loud Seeds. Completion of the Transaction is subject to the satisfaction of a number of conditions, including completion of due diligence by the Company, obtaining all required regulatory approvals.
Michael Jennings, CEO and Director of NGW, is a principle in Loud Seeds. The Transaction is therefore a related party transaction and will be subject to the requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Transaction was approved by all the independent directors.
Loud Seeds is a multiple cannabis cup winner for its seeds and clones, has flourished as innovators in developing premium quality cannabis products to meet the dynamic consumer demands. The principles over the past 20 years have developed a vast collection of award-winning strains and has been inducted into the High Times Hall of Fame and the Top 40 Seed Banks of all time.
KEY HIGHLIGHTS
- Loud Seeds brings an extensive catalogue of cannabis genetics into Next Green Wave accelerating its nursery and cultivation ability
- Loud Seeds is a six-time High Times Cannabis Cup winner
- Loud Seeds has been inducted into the High Times Hall of Fame and listed in the Top 40 Seed Banks of all time
James Load (Principle / Founder) of Loud Seeds: “We are excited to bring our extensive portfolio into Next Green Wave, who’s vision and innovative nursery and cultivation style will see our Loud Seeds genetic library go to the next level. Next Green Wave’s cannabis platform is exceptional and their vision to be a dominate force in California and other jurisdictions is exciting for Loud Seeds.”
Leigh Hughes, Executive Chairman of Next Green Wave:“Being able to bring one of the best seed banks in the world into our nursery continues to differentiate Next Green Wave from other cultivators. “We are excited to join an award-winning genetics portfolio with world-class breeding skills as the construction of our first facility nears completion and begins cultivation.”
ABOUT LOUD SEEDS, LLC
Loud Seeds was founded by Kenneth James Koskiniemi (aka: James Loud) and Michael Jennings (aka: Mike Seeds) who have been growing and breeding premium cannabis for over 20 years with a focus on organic growing. Over that time, Loud Seeds has developed a vast collection of cannabis strains and worked with some of the finest cultivators in the United States and Europe on innovative growing techniques and breeding projects.
Loud Seeds has been inducted into the High Times Hall of Fame and listed in the Top 40 Seed Banks of all time. Being covered in the press by The Million Dollar Grow Room, America’s Next Pot Kings and the Top Ten Strains of the Year, the Loud Seeds brand is one of the more recognized seed brands in California. Loud Seeds have breeding methods that have been developed for over 20 years and are specialists in creating, launching and marketing new strains based on consumer demand. Loud Seeds has also built a strong distribution list in California along with relationships with many other well-known cultivators and breeding partners.
ABOUT NEXT GREEN WAVE HOLDINGS INC.
Headquartered in Western Canada, Next Green Wave is a vertically integrated premium medicinal and recreational cannabis company operating in California, one of the world’s largest cannabis markets. Led by award-winning cannabis industry veteran Michael Jennings and an industry innovator specializing in premium cannabis products. The Company has plans to build four facilities centrally located on 15.5 acres of land in Coalinga, California allowing for state-wide reach across the lucrative California market.
For information on Next Green Wave please visit www.nextgreenwave.com/investors. For copies of news releases and all company materials please refer to SEDAR (www.sedar.com). For all investor relations information, please refer to www.nextgreenwave.com/investors or contact IR@nextgreenwave.com or +1 778-589-5054.