Next Green Wave Achieves Operational Milestones For Intrexon’s Botticelli™ Cannabis Plantlet Production
24 Settembre 2019 - 10:00AM
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX:
NXGWF) ("Next Green Wave", “NGW” or the "Company")
announces that it has completed the installation and activation of
its research and innovation laboratory under license from biotech
leader
Intrexon (NASDAQ: XON). Under the
agreement, these milestones will advance Intrexon’s Botticelli™
next generation plant (non-GMO) propagation platform and begin the
rapid optimization and production of Next Green Wave’s proprietary
cannabis cultivars.
Per their agreement announced on March 22, 2019,
Intrexon and NGW have achieved the following milestones:
- Optimization of Botticelli™ protocol for Next Green Wave's hemp
CBD strains.
- Completion of tissue culture lab at NGW production site to
begin Botticelli™ optimization of NGW’s proprietary nursery
stock.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/476dbdcb-ace3-4efa-aaa6-b0f421fa3efc
“The opening of this research facility is a huge
milestone on our path to establish a world-class cannabis nursery.
Combining Intrexon’s proprietary Botticelli™ tissue culture
platform with NGW’s proprietary stock and cultivation team, we aim
to push the limits of the current cannabis performance paradigm.
After a successful optimization phase, we will begin the
Botticelli™ plantlet production for our own internal cultivation
and also supply our industry leading plantlets to other licensed
cultivators in California,” stated Michael Jennings, CEO of
NGW.
In the U.S. market, legal cannabis revenue is
projected to exceed $31.3 billion by 2022*, with California
representing around a third of that market. Current cannabis
cultivation is predominantly dependent on clonal propagation by
using cuttings of mother plants. This creates barriers to meeting
product demand and also risk of disease susceptibility. In
addition, plants derived from repeated cuttings lose vigor in
performance. Botticelli™ offers potential for a sustainable,
scalable, and more economical solution than conventional
clones.
“We are excited to have achieved optimization of
Botticelli™ protocol for hemp CBD strains, as a proxy for cannabis,
and feel confident about the potential of our platform for cannabis
cultivation. We are looking forward to seeing the Botticelli™
platform enabled and integrated with NGW’s production, validating
its value-add for the cannabis industry,” commented Sekhar
Boddupalli, President, Intrexon’s Ag Bio Division.
NGW is also pleased to announce that its current
nursery production, derived using traditional cloning methods, has
reached inventory levels sufficient to begin sales to other retail
and licensed producers. The nursery has the capacity to produce up
to 80,000 plantlets per month to fulfill both internal use and
external sales. Additionally, the company has now completed its
second harvest of a variety of premium cannabis flower and entered
a perpetual cycle to harvest two rooms every 10-14 days.
About Next Green Wave
NGW is a fully integrated premium cannabis
producer with 8 legacy brands and over 45 products through its
subsidiary WEARESDC. Based in Coalinga, California the company owns
and operates a state-of-the-art cultivation facility and is
currently expanding operations on the cannabis zoned property it is
situated on. NGW has a seed library of over 120 strains which
include multiple award-winning genetics and cultivars and is
developing its nursery cloning operations with bio-tech leader
Intrexon. To find out more visit us at www.nextgreenwave.com or
follow us on Twitter, Instagram, or LinkedIn.
* Source: Arcview Market Research Group
On behalf of the board,
Michael Jennings, CEO Next Green Wave Holdings
Inc.
For more information regarding Next
Green Wave, contact:Caroline Klukowski VP Corp.
DevelopmentTel: +1 (778) 589-2848 IR@nextgreenwave.com
Next Green Wave Forward Looking
StatementsThis 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.”
Such forward-looking statements involve 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 statements. Such risks and uncertainties include,
among others, the risk factors included in the preliminary
prospectus, including without limitation 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, including closing of
Tranche 1 and Tranche 2 of the Notes; competition, including from
more established or better financed competitors; and the need to
secure and maintain corporate alliances and partnerships, including
with customers and suppliers. Readers are encouraged to the review
the section titled “Risk Factors” in NGW’s prospectus. 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 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.
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