Next Green Wave closes C$3 million financing to fund product rollout in California

Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) announced Thursday that the cannabis company had completed a C$3 million convertible note offering allowing it to continue to roll-out its suite of brands and products throughout California.

In addition to financing the rollout, proceeds will also be used to make payments related to the US$21 million SDC Ventures LLC acquisition announced in March.  

“The funding will allow us to continue with the rollout of the highest quality consumer-facing products and advance the build-out of our research and innovation facility that will further open our distribution channels,” said Next Green Wave CEO Leigh Hughes.

READ: Next Green Wave unveils revamped brand identity with new website

The first tranche of the offering comprised of 3,000 unsecured convertible notes valued at C$1,000 each for gross proceeds of C$3 million.

The notes will mature on May 29, 2021 and generate interest

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