Next Green Wave in Final Stages of Testing Prior To Occupancy Permit on Its Production Facility
20 Mars 2019 - 2:00PM
InvestorsHub NewsWire
Next Green Wave in
Final Stages of Testing Prior To Occupancy Permit on Its Production
Facility
Pacific Gas & Electric
in Final Stages of Testing Prior To Occupancy
Inspection
Vancouver, British
Columbia -- March 20, 2019 -- InvestorsHub NewsWire -- 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.
“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
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