VANCOUVER, BRITISH COLUMBIA – October 31, 2018 – Next Green Wave Holdings Inc. (CSE: NGW) (“Next Green Wave”, “NGW”, or the “Company“) is pleased to provide an update on the advancement of its cannabis production facility, located in the community of Coalinga, California. The first phase of construction on the USD $8M state-of-the-art indoor facility is now 90% complete.
The 35,000 sq.ft. automated facility is equipped with proprietary fertigation, operational and security systems. The building will also encompass 18 positive pressured, climate-controlled rooms to accommodate the full cycle cannabis growth.
Key Facility Features
- Nursery: 6,500 sq.ft. space to accommodate seed and seedling production, cloning and creating premium hybrids
- Cultivation: 14,000 sq.ft. flowering space comprised of 18 grow rooms producing various premium strains of cannabis flower
- Post Harvest: Trimming, drying and curing areas
- Distribution: Transportation, sales, packaging
In anticipation of commercial operations, Next Green Wave also held a well-attended job fair with the support of the local community and Coalinga Mayor, Nathan Vosburg. The Company is currently recruiting for 25+ positions for qualified gardeners, trimmers, security personnel, and administrative staff. (For full details on the fair please visit: CoalingPress_NGW_NewsArticle)
“We are laying a strong foundation for the company and our stakeholders, it has only been two weeks since NGW was publicly listed, and we are hitting all our benchmarks completing the groundwork and facility so that we can get into revenue as quickly as possible,” commented Executive Chairman Leigh Hughes. “We’re also taking proactive steps to strengthen our workforce and taking the opportunity to invest in the community in which we will be operating.”
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. Led by award-winning cannabis industry veteran, Michael Jennings, who is an industry innovator specializing in developing premium cannabis seeds and plants and known throughout the cannabis culture in the state. NGW central operations are in Coalinga which is centered between two major markets of San Francisco and Los Angeles and has been awarded permits for nursery, cultivation, extraction, and distribution. The Company has acquired over 15 acres of cannabis-zoned development land and has nearly completed the construction of its first facility. NGW is fully funded having raised over CAD $21M, to bring the company into revenue in 2019.
On behalf of the Board,
Executive Chairman, Next Green Wave
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 [email protected] or +1 778-589-5054.
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.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the intention of the parties to complete the Acquisition and certain ancillary transactions contemplated thereby. These transactions are subject to a number of material risks, and there is no assurance that they will be completed on the terms or within the timeframes currently contemplated, or at all. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.