Next Green Wave Receives $1.5 Million Lead Order
VANCOUVER, B.C. —June 19, 2019 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) (“Next Green Wave”, “NGW” or the “Company”) is pleased to announce that it has arranged a non-brokered private placement of up to 9,090,909 common shares at a price of $0.33 for gross proceeds of up to $3,000,000 (the “Offering”). The Company has reserved an overallotment of 10% of the Offering.
The Company has received a lead order of $1,500,000 from a publicly listed cannabis investment company, and expects to complete the Offering imminently.
Proceeds of the Offering will be used for the acceleration and rollout of Next Green Wave’s brands and products throughout California, including making certain payments for the SDC Ventures LLC acquisition. The products will be developed in partnership with: Carey Hart, Sketchy Tank, Junkyard LA, Toy Machine Skateboard, WEARESDC, OSS, and recently launched King Louie and Loki the Wolfdog CBD pet products.
The Company may pay finder’s fees as permitted by applicable securities laws and CSE policy. Any securities issued under the Offering will have a hold period of four months and a day from issuance.
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. NGW has acquired a seed library of over 120 strains which include several award-winning genetics and cultivars. Recent acquisition of SDC Ventures LLC will complement NGW’s branded products and accelerate the company to revenue through SDC’ existing partnerships and labels. The investment in OMG will provide NGW access to distribution through the licensing of our brands through Colombia.
On behalf of the board,
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. 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, 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 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:
VP Corp. Development
Tel: +1 (778) 589-2848