Next Green Wave shares soar as it obtains all licenses for current cannabis facility in California

Next Green Wave Holdings Inc (CSE:NGW) (OTCQB:NXGWF), the California-focused cannabis firm, is looking at moving into production this year (2019), sending shares higher.

On Friday, the Vancouver-based group said it had obtained all  the necessary state and local licenses for its site A production facility in the city of Coalinga in the state.

Coalinga lies between two major markets of San Francisco and Los Angeles.

The newly issued licences will allow Next Green Wave to carry out all its seed-to-sale operations in the state of California, it said.

“With the completion of our 35,000 square ft premium indoor facility A imminent, we have received all of the state licences necessary to move into production in 2019,” said Leigh Hughes, the executive chairman.

“This is a major milestone to see us into full operation in 2019.”

The company currently owns more than 15 acres of cannabis-zoned development land and has nearly completed its first proprietary engineered 35,000 sq ft facility.

The licence specifies up to 15,000 square feet of indoor cultivation for adult use and up to 5,000 sq ft for medical use. 

Shares in  Next Green Wave Holdings surged over 21% to $0.40 in Canada today.

Contact Giles at [email protected]

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Story by ProactiveInvestors