March 12, 2019
Jamie Blundell, President & COO is pleased to provide the following update Next Green Wave, one of CGOC’s public holdings:
Next Green Wave announced today, together with its US subsidiary Crossgate Capital US Holdings Corp. have signed a definitive agreement dated March 11, 2019, to acquire 100% of California-based SDC Ventures, LLC (“SDC”) (the “Transaction”).
The Transaction will be completed through the Company’s wholly-owned subsidiary Crossgate Capital US Holdings Corp. The total value of this transaction is $20.6 million in cash, shares and performance shares to be earned over the next three years (all cash amounts in US currency) payable based upon the completion of certain requirements. In addition, if certain performance metrics are met, additional consideration is anticipated. For full details of this Transaction see press release dated March 12, 2019.
Each of the SDC Securityholders have entered into an Escrow Agreement such that the Next Green Wave Shares issued will continue to be held in voluntary escrow and released over a 36-month period and pursuant to the terms of those escrow agreements.
SDC is a premium cannabis consumer products goods, manufacturing and extraction leader, having 8 leading cannabis brands with 45 CBD and THC products that have a combined global social influencer reach of over 25 million people and with 100+ million YouTube views.
BRANDS PARTNER LICENSES & PRODUCTS ACQUIRED
SDC’s selection of exclusive licensing relationships are defined by their connection to a core loyal global audience, their reach across digital/social platforms and their ability to partner on product development and marketing. With the Brand Partners below, over 45 CBD and THC products have been acquired that cater to the entire cannabis user market, including pets, in California and other parts of the world.
For further information please contact Cannabis Growth Opportunity Corporation:
|Website: www.cgocorp.com||Investor Relations Email: email@example.com|
About Next Green Wave
Next Green Wave is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California, one of the world’s largest cannabis markets. The Company’s central operations are in the city of Coalinga which is located between two major markets of San Francisco and Los Angeles and has been awarded licenses for nursery, cultivation, extraction, and distribution. Next Green Wave is led by an experienced management team with a focus on international brand development. The Company currently owns over 15 acres of cannabis-zoned development land and is nearing completion on its first proprietary engineered 35,000 ft² facility.
For more information visit www.nextgreenwave.com/investors