Next Green Wave Holdings Inc. (CSE:NGW) (OTCQX:NXGWF) (“Next Green Wave“, “NGW” or the “Company”) is pleased to announce the following operational and financial milestones:

  • In the months of March, April and May 2020, the Company operated with positive cash flow, and achieved both positive EBITDA and positive Net Income.*
  • In the months of April and May 2020, the Company surpassed US$1Million of revenues in each month exclusively (March 2020 was US$900k) and in the last 3 consecutive months, the Company earned revenues over US$2.9 Million.*
  • The Company has entered the final stages of both licensing and construction related to the extraction facility and expect this to be fully operational in Q3 2020.

Q1 2020 Financial Results Now Available on SEDAR (www.sedar.com)


The Company would like to highlight some Q1 2020 achievements:

  • Surpassed US$1 Million in Revenues.*
  • As shown in the table below, the Company has materially increased its quarter over quarter revenue, while significantly reducing both its cash-out operating expenses and marketing expenses.
  • Have increased plant quality with some strains testing as high as 40% total cannabinoids.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6127/57238_86bcbc3264c548ee_002.jpg
Table 1

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/6127/57238_86bcbc3264c548ee_002full.jpg

“Considering the challenges and obstacles this Company, and the industry, have had to overcome, the Company is proud to announce the accomplishments above. We have been achieving results that are starting to meet our expectations from both a financial and operational standpoint, however, even though we have produced some extremely high-end finished product recently, there is still room to grow.” – Mike Jennings, CEO Next Green Wave

As part of the growing demand for Next Green Wave premium flower, the company has launched a new lineup of products under the NGW brand. The new Next Green Wave flower and concentrates can be found across California including San Diego, LA and Oakland. The new flower was released first locally in Coalinga at Have A Heart and quickly expanded through our other retail partners and distributors.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6127/57238_86bcbc3264c548ee_004.jpg

Figure 1: New Next Green Wave Flower & Concentrate Packaging

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6127/57238_86bcbc3264c548ee_004full.jpg

The company is pleased to announce today that it has closed a sale of selective assets:

  • trademarks and intellectual property rights relating to SD Cannabis and Hartluck,
  • inventory relating to the Hartluck brand
  • SD Cannabis packaging, and;
  • the rights to the lease to the CBD retail store in San Diego

(collectively, the “Acquired Assets“) to SDC Parts, LLC (“SDC Parts“). Pursuant to an asset purchase agreement dated May 29, 2020 among the Company, Crossgate Capital US Holdings Corp., SDC, SDC Parts and certain principals of SDC Parts (the “Asset Purchase Agreement“), the Company sold the Acquired Assets to SDC Parts.

Pursuant to the terms of the Asset Purchase Agreement, the Company received 5,163,406 common shares of the Company that were owned by certain principals of SDC Parts in exchange for the Acquired Assets. These shares were returned to the Company treasury.

Subsequent to the closing of the transaction, the Company’s issued and outstanding shares have been reduced from 164,670,189 to 159,506,783 common shares.

“This is a mutually beneficial arrangement between SDC Parts and the Company and allows the Hartluck and SD Cannabis brands to seek the attention and capital needed to expand, while allowing Next Green Wave to continue to focus on developing its core business model in developing its cannabis business. This transaction also allows us to tighten our share capital structure and returns several million shares to the treasury. We look forward to working with SDC Parts to help both company’s grow and succeed. ” – Mike Jennings, CEO Next Green Wave

Core Focus

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6127/57238_86bcbc3264c548ee_005.jpg

Figure 2

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6127/57238_86bcbc3264c548ee_005full.jpg

The Company is also pleased to announce the details of its first shareholder call scheduled to take place on June 4, 2020 at 1:30PM PST. Pre-registration is mandatory and can be completed by clicking HERE. After registration, you will receive a confirmation email containing information on how to join the call.

Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.

About Next Green Wave

Next Green Wave is a fully integrated premium seed to shelf craft cannabis producer offering products through its in-house brand portfolio and wholesale flower for other large cannabis manufacturers. The Company owns and operates a 35,000 sf indoor facility in Coalinga, CA which is home to our nursery, cultivation, distribution, and future extraction business. NGW has an exclusive seed library consisting of 120 cannabis strains and hybrids including award-winning cultivars and is nearing completion of developing tissue culture cloning technology with bio-tech leader Precigen. Marketing, product design and formulation are produced in-house, please follow along us at www.nextgreenwave.com or on Twitter, Instagram, or LinkedIn.

For more information regarding Next Green Wave please contact:

Paul Chow
Director
Tel: +1 (604) 609.6167
IR@nextgreenwave.com

*Forecasts assume no meaningful impacts or disruptions to our operations as a result of the COVID-19 pandemic beyond the new protocols and safeguards already implemented throughout the Company

**All financial information is provided in U.S. dollars. The Company provides financial metrics that are not prepared in accordance with IFRS. Management uses non-IFRS financial measures, in addition to IFRS financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate the Company’s financial performance. Management believes that these non-IFRS financial measures reflect the Company’s ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparing financial results across accounting periods and to those of peer companies. Management also believes that these non-IFRS financial measures enable investors to evaluate the Company’s operating results and future prospects in the same manner as management. These non-IFRS financial measures may also exclude expenses and gains that may be unusual in nature, non-cash, infrequent or not reflective of the Company’s ongoing operating results. As there are no standardized methods of calculating these non-IFRS measures, the Company’s methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similarly titled measures used by others. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. While the FY 2019 information available on SEDAR is audited, the quarterly information disclosed above is not.

Neither 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.

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.” 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, 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. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57238

copyright (c) newsfile corp. 2020
Newsfile Corp.
June 4, 2020 – 5:01 AM PDT
News by QuoteMedia

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less

CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

Keep reading... Show less