Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”), a premium seed-to-shelf craft cannabis producer, is pleased to announce the following operational update:
Construction Commences
The Company has received approval from the City of Coalinga (the “City”) to start the civil work (the “Work”) relating to its approx. 62,000 sq. ft. (previously announced as 50,000 sq. ft.) premium indoor cultivation facility (“Facility B”). As a result, the Work has now commenced and Facility B construction has begun.
Earlier this month, the engineering and architectural designs (the “Facility Plans”) were submitted to the City, and as a result, the Company is expecting its building permit by Early July 2021.
The updated construction timeline for Facility B is as follows:
- Engineering and architectural designs submitted to the City in June 2021.
- Construction commenced in June 2021 (complete and ahead of schedule).
- Building permit obtained in early July 2021.
- Certificate of Occupancy obtained in March 2022.
“Over the last few months, the Company has redesigned and enhanced the original plan for Facility B. NGW has been able to use two years of operational data from the current facility (“Facility A”) to design several operational efficiencies in Facility B. The new total square footage will be enlarged from 50,000 sq. ft to just over 62,000 sq. ft. The Facility B layout will allow for more harvests per year, lower labor cost, and, most importantly, higher quality finished flower. Furthermore, the updated Facility B design will allow NGW to move select Facility A operations to Facility B and increase Facility A’s overall efficiency as well. This is just the beginning!”
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
