Vancouver, B.C. — October 15, 2020 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”) the Company is pleased to announce that the first 30 days of sauce cartridge sales (the “Carts”) generated revenue of over US$100,000, at a gross margin of approximately 60%. Due to the success of the soft launch, the Company plans to rapidly expand distribution to all current retail partners, continuing NGW’s evolution from a flower producer to CPG company. Next Green Wave currently has the following branded products in the market: Indoor flower, pre-roll joints, dabbable extracts, the Carts.
The Carts are totally different than your standard “vape” or “sauce cart” ; this is a non-distilled sauce with COA’s coming back as high as 85% THC and 95% total cannabinoids. And because it is not distilled, each cartridge has the full spectrum of terpenes, cannabinoids and flavonoids enabling a true connoisseur grade entourage effect experience.
In other words, the Carts are:
- Single source
- Strain specific
- No additives
- Indoor flower derived biomass
- 100% all natural
- 3rd party lab tested
The focus on ‘downstream’ products (all cannabis CPG’s other than flower) gives Next Green Wave the ability to continue growing revenue, cash flow and profit beyond the current constraints of our flower production limits. As a result, the Company can take market share in segments that do not require NGW production infrastructure, labor or resources.
The current strain specific varieties include:
- Wedding Cake
- Le Mans
- GMO cookies
- GMO Cherries
- Grape pie cookies
- Pineapple upside down cake
- Lava cake
- Og kush
Fatso bred by @reallycannarado, cultivated by Next Green Wave – now also available now as full spectrum sauce.
This menu of exotic strain varieties include some hard to find genetics that have come from our Pheno hunting and genetics sourcing. The flower strains used are top shelf and high demand, differentiating this sauce from the competition in the market.
Slurricane grown by Next Green Wave, now available in full spectrum sauce.
“The successful launch of our Next Green Wave Sauce Cart highlights our ability to create high margin top quality consumer product goods in the most sophisticated market, within a very competitive category. As such, we look for this product to be a significant driver of top line revenue and EBITDA moving forward.” – Mike Jennings CEO – Next Green Wave
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 producing high quality tissue culture plantlets through its proprietary 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:
Tel: +1 (604) 609.6167
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.
*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. One example is Adjusted EBITDA, which has limitations as an analytical tool as it excludes from net income as reported, interest, tax, depreciation, other income and expenses, non-cash grow costs expensed for biological assets and unsold inventory, and the non-cash fair value effects of accounting for biological assets and inventories. 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.
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.