Next Green Wave's Nursery Botticelli™ Research & Development Program Begins
22 Mars 2019 - 12:00PM
InvestorsHub NewsWire
Next Green Wave’s
Nursery Botticelli™ Research & Development Program
Begins
Next Green Wave
begins to implement Intrexon Botticelli™ next generation (non-GMO)
tissue culture platform toward rapid and sustainable cannabis
plantlet production
Vancouver,
BC-- March 22, 2019 --InvestorsHub NewsWire -- 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.
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 nextgeneration 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 statewide 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
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