Next Green Wave Announces Application for Annual California State Cultivation Licenses

Next Green Wave Launches New Website and Rejuvenated Brand Identity

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2019) - Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", "NGW" or the "Company") announces that it has applied for five annual licenses related to conducting commercial cultivation activities in California. These license applications are presently under review by the California Department of Food and Agriculture ("CDFA"). The Company held temporary licenses to cultivate based on the legislative scheme implemented in 2018 (providing for temporary licenses with annual license requirements to follow in 2019), which have since expired. The industry is currently facing a challenge due to the backlog and processing of these applications as temporary licenses expire.

A California legislative bill is currently underway to extend the temporary licenses so law-abiding companies aren't unduly penalized. According to the CDFA communications manager Rebecca Foree, "Businesses with a temporary license that have submitted an annual application are not an enforcement priority for CDFA." (source: Marijuana Business Daily, February 27, 2019)

Next Green Wave has its local licenses in place to conduct cultivation activities, and anticipates that the state licenses will be issued shortly. The Company's distribution license has been extended to July 25, 2019.

Launch of New Website and Rejuvenated Brand Identity

The Company pleased to announce that as an outcome of our corporate strategic plans and our newly defined brand strategy, we are officially launching a revitalized Next Green Wave brand, in support of our company's goal of becoming the #1 premium cannabis consumer goods company in California.

Included in this rollout is our new website which is now live at www.nextgreenwave.com. Within this site are details on our extensive brand portfolio, our 35,000 sq ft operational facility, our business model and a frequently updated news section. With a desire to elevate life's moments for our industry, stakeholders and consumers, we are looking beyond just the product to create a more personal lifestyle connection with our communities. You can catch the brand evolution and daily stories through our Twitter, Facebook and Instagram accounts @nextgreenwave

"We are excited for the months to come as we ramp up production and continue to roll-out quality products with SDC and our brand partners which have significant influence and subculture, giving NGW the largest voice in California," stated Leigh Hughes, CEO Next Green Wave.

We hope that you enjoy the improvements that we have made to the new website and welcome your feedback as we continue to position Next Green Wave as California's #1 Premium Cannabis Goods Supplier.

About Next Green Wave

Next Green Wave is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California. The Company's first state-of-the-art indoor facility (35,000 ft.2) is now entering production with future plans to expand the 15 acres of cannabis zoned land it is situated on. To find out more visit us at www.nextgreenwave.com or follow us on Twitter at @nextgreenwave, on Instagram, and LinkedIn.

On behalf of the board,

Leigh Hughes,
CEO and Executive Chairman
Next Green Wave Holdings Inc.

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. 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45017

info