Next Green Wave Provides Corporate Update Amid Covid-19
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2020) - Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", "NGW" or the "Company") provides corporate update on its operations following county guidance to limit transmission of the Covid-19 (coronavirus).
Effective March 19, 2020, and in accordance with the Fresno County Shelter In Place Guidelines, the Company would like to confirm that the cultivation and distribution of cannabis (the "Facility") is deemed to be an essential service, as a result of cannabis having medicinal and therapeutic properties. The Facility will continue to operate at full capacity and has begun taking additional precautions to ensure the safety and health of its employees and partners amid the Covid-19 pandemic.
In addition, the Company is pleased to announce that it continues its 100% pass rate on all lab tests since inception, and on March 19, 2020, received a test result on one of its latest strains of 33% THC and 37% total cannabinoids.
"As we work collectively through the challenges this virus presents, we are taking all the necessary steps to safeguard against the spread of this pandemic and are working diligently to provide the utmost quality service and product at a time many need it the most. The Company looks forward to continuing to meet the needs of dispensaries, which have seen a significant surge in sales this week." -Michael Jennings, CEO.
Temporary changes to operations include the Flagship CBD retail store, which is only processing and shipping online orders at this time:
About Next Green Wave
NGW is a fully integrated premium craft cannabis producer with 8 cutting-edge brands and exclusive products marketed through its WEARESDC brand house. Based in Coalinga, California, the company owns and operates a 35,000 sq ft indoor state-of-the-art cultivation facility and is currently completing its extraction facility on the same property. NGW has a seed library of over 120 cannabis strains which include multiple award-winning genetics and cultivars and is developing its nursery cloning operations with bio-tech leader Precigen. To find out more visit us at www.nextgreenwave.com or follow us on Twitter, Instagram, or LinkedIn.
On behalf of the board,
Michael Jennings, CEO
Next Green Wave Holdings Inc.
For more information regarding Next Green Wave, contact:
VP Corp. Development
Tel: +1 (604) 609.6167
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.
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