Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) announced it had achieved a major milestone at its California cannabis facility with the completion of electrical installation and connection to the power grid.
The completion of work means enables the 35,000-square foot indoor facility has immediate electricity access, as well as seven lots extending over 15 acres owned by the cannabis producer.
It will also allow the Vancouver-based company to expand its future cultivation footprint and increase property value, the company said in a statement.
"We are now in the very final stage of being approved to begin cannabis production," Leigh Hughes, CEO of Next Green Wave said in a statement. "The construction of our facility has been underway for nearly one year and it is extremely rewarding to see this facility operational and ready to bring premium cannabis products into the California market in 2019.”
Final inspection to test the integrity of the electrical system of the building will take place during the second week of April. Upon receiving final approval from the local authorities, Next Green Wave will be positioned to begin operations under a state cultivation license.
Shares of Next Green Waveheld steady on Monday at C$0.60 in Canada and gained over 1% to US$0.45 in the US.
--Updates with share price--
Contact Angela at firstname.lastname@example.org
Follow her on Twitter @AHarmantas