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Next Green Wave hits key milestone with successful cannabis harvest

The cannabis company told investors that it expects to become fully operational this month

Next Green Wave - Next Green Wave hits key milestone with successful cannabis harvest
All 14 flower rooms at the company’s California facility are stocked with plants

Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) shares rose on Thursday after the firm hit a new milestone this week with the successful completion of its first cannabis harvest..

In afternoon trading, Next Green Wave were up 2.1% at C$0.245 in Toronto, and ahead 2.2% at US$0.19 in New York.

In a statement on Thursday, the Vancouver-based company said that all 14 flower rooms at the company’s California facility are stocked with plants, and six of them are in the flowering stage.

The cannabis company told investors that it expects to become fully operational this month.

READ: Next Green Wave launches CBD product line with motocross star Casey Hart

Multiple rooms will be ready for harvest in 2019, Next Green Wave said in a statement. The next yield is expected shortly and will be ready for sale and distribution through the company’s SDC Branding House and partner brands including Loki the Wolf Dog, Carey Hart, King Louis and Sketchy Tank.

The company also announced that founder Mike Jennings has been appointed interim CEO along with his current role as COO.

Jennings said that the successful harvest was a “turning point” for the cannabis company.

“The NGW team has worked steadfast to get the facility built, operating and into revenue, and bring our premium products and brands to market as quickly as possible, kickstarting the beginning of our evolution,” Jennings said in the statement.

“We are appreciative of our supportive stakeholders and we look forward to a strong future - one in which we are confident will be rewarding."

The company also appointed Matt Jewell as its CFO and SDC’s cofounder Ryan Lange to the CMO role. In addition, Paul Chow, Glen Harder and Mike Jennings have been appointed to the company's audit committee, while Monita Farris has been appointed as corporate secretary.

 -- Updates share price --

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Next Green Wave

Price: 0.135 CAD

CSE:NGW
Market: CSE
Market Cap: $21.06 m
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