Next Green Wave Holdings, Inc. (CSE: NGW) (OTCQB: NXGWF) is a seed-to-sale premium medicinal and recreational cannabis company based in California. Shares jumped 34.44% through early trading on Friday, January 4, 2019. Over the past month, Next Green Wave has seen an average daily volume of 51,183 shares. However, through Friday morning, already 206,600 shares have traded hands, equating to $67,500 in dollar volume.
Shares surged Friday morning after Next Green Wave announced it has secured all of the required state and local licenses for its cannabis production facility in Coalinga, California. With the issuances of the licenses, Next Green Wave is able to “carry out all its seed to sale operations in the state of California.” The specific licenses issued will allow for the growing, cultivation, and distribution of both medical and recreational cannabis. Leigh Hughes, Executive Chairman of Next Green Wave, commented, “With the completion of our 35,000 ft² premium indoor Facility A imminent, we have received all of the state licenses necessary to move into production in 2019. This is a major milestone to see us into full operation in 2019.” Here is the full press release detailing the licenses Next Green Wave has secured for its cannabis operation:
Next Green Wave Holdings, Inc. Press Release:
Vancouver, British Columbia–(Newsfile Corp. – January 4, 2019) – Next Green Wave Holdings Inc. (CSE : NGW) (OTCQB: NXGWF) (“Next Green Wave” or the “Company”), is pleased to announce that is has obtained all necessary state and local licenses for its site A production facility in Coalinga, California. The newly issued licenses will allow Next Green Wave to carry out all its seed to sale operations in the state of California.
Indoor Cultivation – Adult Use (up to 15,000 ft²)
Indoor Cultivation – Medical (up to 5,000 ft²)
Distribution – Adult
Distribution – Medical
Volatile Extraction – includes non-volatile extraction, infusion and manufacturing
“With the completion of our 35,000 ft² premium indoor Facility A imminent, we have received all of the state licenses necessary to move into production in 2019. This is a major milestone to see us into full operation in 2019,” Stated Leigh Hughes, Executive Chairman.
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, the world’s largest cannabis market. 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. NGW is led by an experienced management team with a focus in 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.
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 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.
Article By: Andrew Rego