news now out....
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2020) - Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", "NGW" or the "Company") is pleased to confirm it will immediately move forward with expansion plans for a 50,000 square foot premium indoor cultivation facility ("Facility B") in Coalinga California. Facility B will be located on 2 acres of Company owned land directly adjacent to the current 35,000 square foot cultivation and distribution facility. When fully operational the Company will have a combined production capacity of close to 20,000 pounds of premium flower per year representing close to a 150% increase based on current production levels.
The City of Coalinga has approved the expansion and the Company will work towards the following timetable:
- Engineering and Architectural designs fully complete by Q1 2021
- Construction commencing Q2 2021
- Certificate of Occupancy obtained Q4 2021.
The Company will finance the construction through current cash flows and debt. At this time, the Company does not anticipate the need to do a dilutive equity financing in order to complete Facility B.
