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Next Green Wave Is Bringing Premium Seed To Sale Integration To The California Market

Sep 25, 2018 • 10:51 AM EDT
Cannabis (10).png
7 MIN READ  •  By Michael Berger
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Although many investors are closely monitoring the Canadian cannabis industry, we believe that the United States market is flying under the radar. The United States cannabis industry is in the early innings of a major growth cycle and markets like California represent massive opportunities.

One of the reasons why we are favorable on companies that are capitalizing on the United States opportunity is due to valuations. When compared to Canadian companies, United States companies trade at a discount and we think this creates a great opportunity for investors.

Investors still need to be cautious when they consider investing in the cannabis industry and focus on companies that represent legitimate opportunities. We have been monitoring the cannabis sector and have been focused on identifying companies that represent attractive opportunities.

Earlier this month, we had the opportunity to meet with the management team behind Next Green Wave and were very impressed with this company. Next Green Wave is a fully integrated, seed-to-sale, cannabis company that is licensed for medical and recreational cannabis operations in Coalinga, California. The company has acquired four medical and recreational Conditional Use Permits (CUP’s) for cultivation, nursery, volatile and non-volatile extraction and distribution.

Next Green Wave is well positioned to start capitalizing on the California cannabis market in early 2019 as its first major facility becomes operational and we are monitoring how the team executes on this. The facility is located on a 15 acre property that is strategically located between Los Angeles and San Francisco. We are favorable on this location from a distribution standpoint as it allows for distribution across the entire state.

The company owns the piece of property which is an important aspect of the story. Next Green Wave operates a seed-to-consumer model that is primarily focused on existing and new business-to-business and business-to-consumer relationships. This is a differentiated approach and we are favorable on the company’s ability to execute on it. 

One of the most important aspects of the Next Green Wave story relates to the four conditional use permits (CUPs) that have been granted in California. In the state, a cannabis company is required to have a CUP for cultivation, a nursery, extraction, and distribution. These permits support the fully integrated business model and we are favorable on the growth potential in 2019 and beyond.

We are favorable on Next Green Wave due to leverage to the California market and the number of catalysts for growth. The company is focused on the high-growth verticals of the cannabis industry and is well positioned for growth.

A Leading California Cannabis Pre-IPO Opportunity

Next Green Wave is focused constructing state-of-the-art facilities in California for cultivation, nursery/breeding, extraction and distribution. The company’s business is completely integrated, which allows the company to control the complete seed-to-sale process. This is an attractive aspect of the story as it will lead to better margins and lower costs.

The company owns 15 acres in Coalinga, allowing operations to be more streamlined, more efficient, and more cost effective. The property will also provide significant room to expand and we think this is will be a major value driver for the company.

Next Green Wave will cultivate premium cannabis in the flowering facility and will use the nursery to create hybrid strains and be a major supplier of clones, seeds and seedlings to retail and wholesale clients. The company is laser focused on the smokeless product opportunity plans to use the trim from the cannabis plant for extraction.

Distribution is a major aspect of the cannabis business and Next Green Wave plans to not only sell its own products throughout the state. The company plans to contract high quality licensed producers and processors that do not have a distribution license to package, market, transport and sell their respective products through its wholesale and retail network.

In the Middle of a Major Growth Cycle

Next Green Wave is in the middle of a major growth cycle and has been laser focused on completing construction of Facility A. This will be a major milestone and  the company expects the 35,000 sq. ft. indoor facility to be generating revenues by the fourth quarter of 2018. The company will be breaking ground on Facility B in early 2019 and the 50,000 sq. ft. will house indoor nursery and cultivation operations. This facility is expected to be generating revenues in the late 2019 and will be a major growth driver in 2019 and beyond.

Next Green Wave has been also focused on retrofitting Facility C, which is 3,240 sq. ft. and will serve as a nursery, an extraction center, and a distribution facility. The company is working with a NYSE-listed biotech company and are favorable on the relationship. Next Green Wave expects Facility C to be generating revenues in early 2019.

Next Green Wave is laser focused on increasing production capacity to supply the California market and we are favorable on this initiative. To increase capacity, Next Green Wave plans to construct Facility D, which will be a 250,000+ sq. ft. greenhouse and is expected to be generating revenue in late 2019.

Next Green Wave is well positioned to capitalize on a massive opportunity after completing a $21 million raise. These proceeds will allow the company to complete Facility A, finalize the complete supply chain from seed-to-sale, acquire and complete Facility C, acquire facility D, to execute on previous initiatives, and for strategic acquisitions and the execution of license agreement opportunities.

The company has several catalysts for growth and is laser focused on increasing market share in California. We are favorable on the management team’s ability to execute and create value for shareholders and will be monitoring this opportunity closely. 

Next Green Wave was the first company to purchase property in the green zone in Coalinga and holds the following licenses, that form the foundation of its vertically integrated business model:

  1. Cultivation – Growing cannabis flowers for both sales and testing.
  2. Nursery – Production and sales of proprietary seeds and clones as well as exclusive production and sales of third party seeds and clones.
  3. Extraction – Includes volatile extraction, non-volatile extraction and product infusion.
  4. Distribution – Implementing targeted marketing and sales strategies to sell both Next Green Wave produced products and those produced by its branded distribution partners. Services include transportation, processing, packaging, marketing and sales

Led by a Management Team with a Proven Track Record

One of the most important things to look into when analyzing cannabis companies is the management team. Next Green Wave is led by a management team that has a proven track record of success and we are favorable on this. The company is building an industry leading brand  portfolio  in California and these efforts are being led by six-time award-winning Cannabis Cup expert and industry  thought-leader Mike  Jennings.

CEO Mike Jennings is a Californian native from the Central Valley that has been working in the Cannabis industry for more than 20 years. Aside from focusing on large cultivation projects, Mike has specialized in owning and operating dispensaries and cannabis doctor’s offices. Mike is the co-founder of Loud Seeds, a multiple High Times Cannabis Cup winning breeding and cultivation company. He has been involved in cannabis cultivation, breeding, and marketing for more than 15 years and has established brands in both the United States and Europe. By leveraging Jennings’ consumer and industry relationships and management’s vast corporate  expertise, the company is well positioned to capitalize on all facets of the rapidly growing industry.

Executive Chairman Leigh Hughes is an integrated marketing communications and innovations professional with more than 15 years of experience. He has held board level positions for multiple companies and has success and experience in venture capital services and the commercialization of private and public companies across the globe, in particular: North America, Australia, and the Asia Pacific Region.

A Company Worth Watching

Once the property is fully licensed, Next Green Wave will producing a significant amount of cannabis and we are favorable on the growth opportunity. When compared to its peers, the valuation is attractive and we are monitoring the shares ahead of the public listing.

Next Green Wave is focused on producing high-quality cannabis and has brought it the right executives to accomplish this. Earlier this year, the company signed a non-binding LOI with a world-class biotechnology firm listed on the NYSE), to conduct R&D and assist in the commercialization of high-throughput plant regeneration technology in the cannabis space.

The company has significant levers for growth and has received a strategic investment by Cannabis Growth Opportunity Corp (CGOC:CSE). To stay up to date with Next Green Wave, email us at

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.


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