Next Green Wave Announces 12 Consecutive Months of Profitability
7:45 am ET March 1, 2021 (Newsfile) Print
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2021) - Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", "NGW" or the "Company") is pleased to announce the following operational and financial updates:
For each individual month between March 2020 to February 2021, the Company operated with positive cash flow, and achieved both positive Adjusted EBITDA* and positive Net Income (the "Milestones"). As a result, It has now achieved these Milestones for 12 consecutive months.
On February 16, 2021, the Company submitted the full application (the "Application") to the City of Coalinga (the "City"), for all required local cannabis licenses on its 50,000 square foot premium indoor facility ("Facility B"). The Company is working with the City to get the Application approved at the next planning commission meeting, scheduled to be held on March 23, 2021, and subsequently the City, which has scheduled a council meeting on April 1, 2021.
Once the Application is approved by the City, the Company can begin the process of acquiring building permits to commence construction at its discretion. This timeline is consistent with the previously announced schedule from December 2020 (Click HERE for the press release).
