Vancouver, British Columbia--(Newsfile Corp. - October 1, 2021) - Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", "NGW" or the "Company") the Company is pleased to confirm the appointment of Curtis Floyd to NGW's Board of Directors.
Mr. Floyd joins the Next Green Wave Board of Directors with an outstanding track record in business, entrepreneurship and leadership.
Currently, Mr. Floyd is:
- a practicing attorney with The Law Offices of Curtis Floyd, holding an economics degree from UCLA and a law degree from Stanford, and;
- a member of the Board of Directors of Mission Bank, a publicly traded community bank, headquartered in Central California. In addition to being a Board Member, Mr. Floyd is also a founder of Mission Bank, where he has served as the Chair of the Audit and Corporate Governance Committees, and as a member of the Mergers and Acquisitions Committee. Since its formation in 1999, Mission Bank has grown from a single branch with approximately US$5 million in assets to a chain that is now located in seven (7) cities around California, with assets in excess of US$1 billion.
- Chairman of the Board of Directors of Community Action Partnership of Kern, a community service organization located in Central California, with an annual budget of US$45 million and over 900 employees.
During his legal career, Mr. Floyd has counseled numerous business owners on business formation, structuring, expansion, financing, compliance and litigation. Personally, Curtis has founded or invested in a vast array of diverse private business ventures, including, but not limited to, educational services, restaurants, farming, real estate development and construction. Curtis has invested in both private and public cannabis enterprises and currently owns over 5% of the outstanding shares of Next Green Wave, which places him in alignment with NGW Shareholders.
The Company has granted 850,000 stock options to Mr. Floyd under its stock option plan, exercisable at a price of CDN$0.50 per share, with an expiry date of five years, and will vest 25% every 6 months for a period of two years.
"Mr. Floyd's diverse experience in business, governance, banking, risk management and California cannabis makes him a perfect addition to the Next Green Wave board to help guide the Company to the next level. We could not be more excited to have him join our team." - Michael Jennings, CEO Next Green Wave
Unrelated to the above, the Company has granted 850,000 stock options under its stock option plan exercisable at a price of CDN$0.50 per share, with an expiry date of five years, to multiple contractors, where the vesting conditions are contingent on internal 2022 sales targets, none of which can vest before Dec 31, 2022.
About Next Green Wave
Next Green Wave is an 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 sq. ft. indoor facility in Coalinga, CA, which is home to our nursery, cultivation, distribution, and packaging business. Marketing, product design, and formulation are produced in-house; please follow along at www.nextgreenwave.com or on Twitter, Instagram, or LinkedIn.
For more information regarding Next Green Wave please contact:
Matthew Jewell
CFO
Tel: +1 (604) 684-6844
IR@nextgreenwave.com
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" and such forward-looking statements and forward-looking information represent only NGW's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of NGW's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts" "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the Company's expectations for long-term (YE 2021, YE 2022 and YE 2023) revenue and adjusted EBITDA profitability, the ability of the Company to successfully achieve business objectives (including completion of construction and increasing production capacity), and expectations for other economic, business, and/or competitive factors. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NGW's current beliefs and is based on information currently available to NGW and on assumptions NGW believes are reasonable.
Forward-looking information is subject to 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 information. Such risks, uncertainties and other factors 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; the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and risks and delays resulting from the COVID-19 pandemic. 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 has 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/98166
