Vancouver, British Columbia–(Newsfile Corp. – October 7, 2020) – Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”). As a follow up to our last press release on September 1, 2020, the Company is pleased to confirm the following financial milestones:
– In the months of July, August and September 2020, the Company operated with positive cash flow, and achieved both positive Adjusted EBITDA* and positive Net Income (the “Milestones”). It has now achieved these Milestones for seven consecutive months.
– In the months of July, August and September 2020, the Company surpassed US$1.1 Million of revenues in each month, and as a result, achieved approximate revenues of US$3.5 Million in Q3 2020. The total cash costs incurred to generate Q3 2020 revenue was approximately US$1.9 Million*.
– The CDN$1,500,000 of convertible debentures (the “Debentures”), previously announced on December 13, 2019, have been fully converted into common shares and all outstanding interest payments related to the Debentures have been fully paid. As a result, the number of common shares issued and outstanding, as of October 7, 2020, is 169,506,783.
Figure 1: Next Green Wave products
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Figure 2: Next Green Wave products
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To capitalize on the growing popularity of the NGW brand due to the success of the indoor flower line, the company has launched several new artesanal grade products that can be found in premium dispensaries in cities across California, including San Diego, LA, Modesto, Sacramento and Oakland. Next Green Wave branded prerolls, dabbable extracts and vape cartridges are all currently available throughout California, while the Company’s line of gum drops is expected to hit the market mid October. Next Green Wave followed the same approach that led to the successful flower launch, first releasing products locally in Coalinga at Have A Heart and quickly expanding through our other retail partners and distributors, including some of Los Angeles most well known and respected locations like DTPG, Dr. Greenthumbs.
Figure 3: Next Green Wave products
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“Considering the challenges and obstacles this Company has had to overcome over the last few years we are extremely proud to announce the above accomplishments. Now that we have set baselines for production and revenue over the last two quarters, our objectives are threefold. First, continue to optimize operations and improve production metrics to maximize overall flower output at our production facility. Second, continue to grow revenue by increasing branded product sales volume and increasing downline product sales such as extracts, prerolls, vape cartridges and edibles. Finally, get our extraction facility online this year which will add revenue through tolling and decrease internal production costs for downline products.
The whole team has been working hard to meet our continued growing demand as we are sold out week after week. The rapid expansion into retail is in full bloom across California including Oakland, Los Angeles, San Joaquin Valley and San Diego areas.” – 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
*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.
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/65388
Greene Concepts Fortifies Financial Positioning Through Major Debt Reduction Combined with Share Buyback in Alignment with the Company’s Growth Strategy
Marion, North Carolina–(Newsfile Corp. – October 28, 2020) – Greene Concepts Inc. (OTC Pink: INKW) is excited to report the company has completed a debt forgiveness agreement in the amount of $340,898 previously owed to one of our largest note holders. This reduces our notes payable by 56%. The debt holder, Greene Concepts’ management and accountants have agreed to write-off and eliminate $340,898 of the third-party convertible notes from the company’s finances as debts that are no longer due.
Additionally, the Company is in the process of finalizing a substantial share buyback of its common stock. This common stock buyback will reduce the common share count by over 280 million shares. The company has taken powerful actions financially in a short time span by increasing its Assets, Cash, Inventory, and Sales.
|Greene Concepts 3rd and 4th Quarter Finance Comparisons|
|3rd Quarter Report (Period Ending 4/30/2020)||4th Quarter Annual Report (Period Ending 7/31/2020)|
Lenny Greene, CEO of Greene Concepts notes, “Today’s announcement marks an important step forward in significantly strengthening Greene Concepts in terms of debt reduction which wipes out 56% of our debt (over $340,000 worth of payable debt) off our books. We would like to give a profound thanks to this Debt holder for their strong work and altruism in this action. This bold and forward-looking gesture better positions us for increased revenue generation, faster inventory turnaround times, increased gross and profit margins, a rise in working capital, employee additions and positive cash flows. It also allows us to increase our assets, our cash reserves, and our total sales. We will continue to focus on the things we can control with aggressive cost management and working capital reductions. This focus will allow us to reduce debt, achieve positive liquidity and balance sheet improvement.”
Mr. Greene continues, “We are pleased to continue making strides in our ongoing efforts to strengthen our business, increase our flexibility and improve returns on capital. It is our intention to do whatever we can to continually reduce our debt and monitor our Key Performance Indicators for our financial condition to include our cash, accounts receivable and accounts payable. While we amplify our sales and reduce our debt, we also maintain an inventory of $51,425 of cases of our bottled ‘Be Water’ Brand ready to ship to Amazon and throughout the country. Our new ‘Be Water’ Label production run begins next week.”
BeWater New Label
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“Finally, we are in the process of finalizing a share buyback of our stock. This common share buyback will reduce our common share count by over 280 million shares. We are confident that each of these financial actions offer improved security during these uncertain times and better positions us to pull the trigger on future partnership or acquisition opportunities while preparing us for unprecedented growth.”
Greene Concepts Creek Running Water
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About Greene Concepts, Inc., Mammoth Ventures, Inc. and Water Club, Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly owned subsidiary, Mammoth Ventures Inc., the Company has entered the specialty beverage and bottling business and is an emerging leader in the global scientifically formulated beverage industry. Through its subsidiary Water Club, Inc. we intend to pursue subscription-based delivery of water and scientifically formulated beverages directly to the consumers home and market the convenience of this service thru social media affiliate marketing partners.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Greene Concepts, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67028
TransGlobal Assets Inc. (TMSH) Expands in Pittsburgh Area with Property Acquisition
Company seeks a foothold on manufacturing of Monster Elixir branded CBD products and beverages
Pittsburgh, Pennsylvania–(Newsfile Corp. – October 28, 2020) – TransGlobal Assets, Inc. (OTC Pink: TMSH) is proud to announce the purchase of a 3,500 square foot building in Pittsburgh that will serve as the headquarters of Monster Elixir Inc., a wholly-owned subsidiary. It will house manufacturing for Monster Elixir’s line of CBD beverages and topical healing products.
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The purchase expands on the company’s growth plan, which currently features a 2,400 square foot rental space in the city that will be a storage unit for production. The plan also entails the purchase of the first of many additional store front retail spaces in the Pittsburgh area.
The company is securing space for its line of heavily demanded drinks called Green Essence Beverages. The CBD-infused drinks will be sold in the following flavors:
Pineapple Agave (Dark)
Strawberry Pineapple Lemonade
Monster Elixir will also launch a line of CBD wellness products that include, but are not limited to, the following:
Joint & Muscle Cream
Joint & Muscle Balm
In addition, the company is also launching a line of hemp-infused hair care products that will include shampoos & conditioners, healthy hair butters & tinctures, as well as beard care products. These fine CBD products will be sold at local dispensaries and other retail outlets.
For further inquiries please contact:
Curtis Philpot CEO
TransGlobal Assets Inc.
Office: (833) 217-8764
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67026
Hemp, Inc. Set to Distribute Full King of Hemp® Product Line Across Country
Las Vegas, NV, Oct. 28, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers, announced today it will be aggressively shipping its King of Hemp® product line to stores across the country over the next 30-60 days. To date, the King of Hemp® product line consists of Bubba Kush hemp; Pre-rolls, Fortified Pre-rolls, Caviar/Moon Rocks; and Diamonds.
According to Bruce Perlowin, CEO of Hemp, Inc., the Company is revving up to launch one of its most aggressive marketing campaigns to date. “Our number one goal has been to produce top-of-the-line CBD and CBG smokable products and CBD consumption options that fit consumer lifestyles and deliver unparalleled results. We’ve done just that with the King of Hemp® line.”
Hemp, Inc.’s Diamonds and Crumbles (smaller Diamond pieces) are dabbable CBD products, derived from a golden-hued high CBD, THC-free distillate taken directly from the hemp plant that includes blends of valuable terpenes. Diamonds and Crumbles promise to deliver the strongest, most potent effects of any other product from the line containing between 92% and 98.7% pure CBD.
Consumption methods include, but are not limited to, utilizing a dab rig or a wax vaporizer for the fastest, strongest results. (While Hemp, Inc. does not cultivate, manufacture or produce any type of THC product, consumers of the Company’s CBD product Diamonds report that mixing Diamonds with a THC concentrate helps to mellow THC’s effects).
“Diamonds or Crumbles are the perfect way for our customers to get a pure, clean CBD dabbing experience with instant results that last,” said Perlowin.
Hemp, Inc.’s Caviar, similar to Moon Rocks, is a highly potent and rich tasting smokable product with less than 0.3% THC. It is made from Hemp, Inc.’s high-quality Southern Oregon-grown Bubba Kush hemp flower, which is covered with a THC-Free distillate (with and without added terpenes), and then rolled in CBG-rich kief. The product contains over 45% CBD and over 10% CBG.
Many people prefer to smoke their hemp products due to the speed and effectiveness of the delivery system. By entering the body through the respiratory system, there is a dramatic increase in bioavailability as compared to oral consumption. It is the fastest way to receive CBD and CBG’s potential calming and pain-relieving benefits.
Consumption methods include but are not limited to vaporizing Caviar in an all-ceramic or stainless steel vaporizer to capture the full terpene profile and cannabinoid effects; or using a glass water pipe. While Caviar is not a cannabis product, smoking it the way hash is smoked is recommended to achieve the best results.
“Caviar exemplifies the variety of ways consumers can enjoy CBD and CBG and reflects our brand vision of providing a superior, royal experience,” said Perlowin.
The King of Hemp® pre-roll line offers high-end products that are an effective and flavorful, smokable alternative to cigarettes and other hemp consumption methods. The King of Hemp® pre-rolls can be purchased individually or in packs of 6. Each pre-roll is 1 gram and does not exceed 0.3% THC.
King of Hemp® pre-rolls use A and B hemp colas which are derived from Pre-98 OG Bubba Kush hemp, one of the top selling cultivars on the market. The strain, rich soil and climate lend themselves to these colas being among the highest quality buds, positioning them to be some of the best tasting for consumption.
The Company’s website for its King of Hemp® line (www.kingofhempusa.com) also has CBD oil tinctures available for purchase. The tinctures are available in two flavors, Natural and Peppermint, and contain full-spectrum hemp oil extracted from the flowers and leaves of hemp plants sustainably sourced from Colorado. They are also compliant with the regulations created by the Colorado Department of Agriculture in regards to industrial hemp. The tinctures contain 0.3% or less THC and are compliant with the 2018 Farm Bill.
To learn more, go to the King of Hemp® website, here.
According to Nielsen, market researchers project 2020 sales in the current smokable-hemp market to reach $70 million to $80 million. This category includes loose CBD flower, hemp-CBD pre-rolls, cigars and other inhalables.
To see one-minute videos of Hemp, Inc.’s current activities, visit Bruce Perlowin’s personal Facebook fan page, where he shares posts of Hemp, Inc.’s activities around the country. Additionally, follow Hemp, Inc. on Instagram here and on Twitter here.
To view the webinar featuring Hemp, Inc.’s CEO, Bruce Perlowin, click here.
WHAT IS HEMP, INC.?
What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information” and Hemp, Inc. does… using the SEC’s Alternative Reporting Standard to publicly report its quarterly and yearly financials. All current information can be found on www.hempinc.com/hemp-financial-disclosures/. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.
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