FAIRFAX, Va., Jan. 26, 2015 /PRNewswire/ --
Nextgen Holdings, LLC, a wholly owned subsidiary of Next
Generation Management Corporation (NGMC), is pleased to announce
that it has secured a coveted medical marijuana
cultivation facility near Portland, Oregon.
Identifying and securing cultivation facilities is very
competitive due to the existing moratoriums in many counties
throughout Oregon. "The 3,200 square foot facility will give
us a head start in preparation for the recreational license process
beginning in January 2016. Initial cultivation will be for
legal medical marijuana patients who possess a valid OMMP card,"
said Darryl Reed, NGMC CEO.
"By selecting high yielding, highly desirable, hybrid strains
that flower in 50 - 70 days, NGMC's facility could produce revenues
topping $1.5 million annually,
assuming no crop loss to disease, unforeseen regulatory changes and
stability in the price," Mr. Reed said.
"The Company continues to execute an aggressive expansion plan
to serve the medical marijuana community in Oregon. We anticipate a similar boom in
Oregon as occurred in Colorado once that state adopted recreational
rules," NGMC's CEO said.
"As we continue identifying additional cultivation facilities,
we have secured the services of marijuana cultivation experts who
will incorporate state of the art technology to maximize yields,
grow desirable strains, and shorten time to harvest," Mr. Reed
concluded.
About Nextgen Holdings, LLC:
Next Generation Management Corporation's wholly-owned subsidiary
was formed to hold its Oregon
cannabis assets.
("Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity and
access to public markets, operating expense reduction, and trends
in the industry in which the Company operates. The
forward-looking statements contained in this press release are also
subject to other risks and uncertainties, including those more
fully described in the Company's filings with the Securities and
Exchange Commission. The Company assumes no obligation to
update these forward-looking statements to reflect actual results,
changes in risks, uncertainties or assumptions underlying or
affecting such statements, or for prospective events that may have
a retroactive effect.)
Contact: Paul Knopick
pknopick@eandecommunications.com
940.262.3584
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SOURCE Next Generation Management Corporation