|By PR Newswire||
|February 26, 2014 05:24 PM EST||
CSE: N OTC Pink: NXTTF FSE: M5BN
- Next Gen's Vision: To be a leading provider of venture capital, management expertise, education and a facilitator for this explosive new industry
- Next Gen plans to consolidate certain sectors of this fragmented industry
- Next Gen plans to provide financing for Medical Marijuana and Industrial Hemp related companies who require capital in exchange for an equitable interest in their business and/or a royalty on sales
- Next Gen intends on incubating companies that are technically savvy but require professional assistance in fundraising, complex negotiations, capital markets, public company administration and IPO's
- Management's due diligence and recent regulatory/legal changes in North America have prompted our team to enter into this emerging multi-billion industry
- Management is currently reviewing and soliciting new business proposals
- The Company plans to abide by government law everywhere it operates
VANCOUVER, Feb. 26, 2014 /PRNewswire/ - Next Gen Metals Inc. (the "Company", "Next Gen"), (CSE: N, OTC Pink: NXTTF, FSE: M5BN), announces its plans to diversify into the Legal Medical Marijuana and Industrial Hemp industries in North America.
Harry Barr, President and CEO of Next Gen, stated that "Next Gen's vision is to be a leading provider of venture capital, management expertise, education and a facilitator for this explosive new industry."
Mr. Barr further stated that "A growing proportion of the medical community believe that Medical Marijuana and, more specifically cannabinoids, have the potential to help patients who are suffering from a variety of ailments and illnesses. In addition, Industrial Hemp is an emerging industry in Canada and hemp is one of the strongest natural fibers known to man. Hemp has a wide range of applications including medicine. Both sectors show the potential for exponential growth."
Government Regulation Change Leads to Growth in Industry
Health Canada's website explains that "The Marihuana Medical Access Program (MMAP) ends on March 31, 2014. This is also the date that all previous Authorizations to Possess, Personal-Use Production Licenses and Designated-Person Production Licenses expire. As of April 1, 2014, the only legal access to marihuana for medical purposes will be through licensed producers under the Marihuana for Medical Purposes Regulations (MMPR)." (http://www.hc-sc.gc.ca/dhp-mps/marihuana/index-eng.php).
These regulation changes allow licensed producers to grow Medical Marijuana on a commercial scale. Previously, licensed individuals had been allowed to grow Medical Marijuana in their homes. Health Canada estimates that the market could be worth $1.3 billion by 2024. Analysts and industry experts peg estimates to be closer to $2.6 billion by 2016.
Health Canada's website explains that "The Industrial Hemp Regulation Program permits Canadian farmers to grow low-TCH cannabis for industrial use, under controlled circumstances. This program administers the regulatory approval process for the commercial production of industrial hemp. It is comprised of a system of licenses, permits and authorizations for all persons in Canada engaged in the cultivation, distribution, importation, exportation, and processing of industrial hemp." (See http://www.hc-sc.gc.ca/hc-ps/substancontrol/hemp-chanvre/about-apropos/index-eng.php).
In the United States, Medical Marijuana is legal in 20 states including Washington, DC. Furthermore, Colorado and Washington State have legalized recreational use with additional states contemplating legalization.
Recent analysis on the American marijuana marketplace by ArcView Angel Investors forecast a 64% surge in the legal U.S. cannabis market to $2.34 billion in 2014. They also estimate that the five-year national market could grow to $10.2 billion amid rising demand and potentially new state markets.
Next Gen's vision is to be a leading provider of venture capital, management expertise, education and a facilitator for this explosive new industry. Next Gen is one of the first Canadian public companies to enter into this multi-billion dollar green rush whose objective is to invest in a basket of companies in the sector. The Company is currently researching investment opportunities in the following industries within the Medical Marijuana and Industrial Hemp space: health, agri-business, food, legal grow-ops, technology, client generation, education, public awareness, specialty medical devices and ancillary business opportunities.
Next Gen's competitive advantages include:
- Management's financial contacts to raise venture capital
- Management's ability to efficiently manage both public and private companies on an international scale
- Management's ability to negotiate equitable deals for our partners and our shareholders
Our group has completed over 300 option/joint venture agreements with major, mid-tier and junior companies and raised over $250,000,000 in equity to advance projects throughout 9 countries. Collectively, Management has a combined 150 years of experience managing public/private companies, negotiating complex deals and raising venture capital.
Finance methods will include but not be limited to the following:
Directly invest in both public and private companies focussed
on the industry in exchange for an equitable interest in the business
and/or a royalty on sales
Incubate companies that are technically savvy but require
professional assistance in fundraising, complex negotiations,
capital markets, public company administration and IPO's
|a. Act as a value-added partner|
|3.||Organically grow in house businesses and technologies|
|4.||Joint Fund/Venture with:|
|a. Industry Leaders|
|b. Private Equity Firms|
|c. Finance and Brokerage Companies|
|d. High Net Worth Investors|
|5.||Create funding vehicles to finance our target acquisitions|
Spin-off key businesses to create additional value for
Milestones Going Forward
- Brand Next Gen in accordance with its vision
- Actively seek and review new business plans in the industry
- Strengthen Management and Advisory Team within the Medical Marijuana sector
- Be a leader in consolidating this fragmented industry
About Next Gen Metals Inc.
Next Gen Metals Inc. is a diversified public company which focusses on the Medical Marijuana and Industrial Hemp industries in North America. Next Gen also has a Mineral Exploration division.
The Company's Medical Marijuana/Industrial Hemp divisions are working towards branding Next Gen as the go-to Canadian public company for Legal Marijuana and Industrial Hemp investment.
About the International Metals Group
The International Metals Group ("IMG") is an organization of professionals with a wealth of experience in all aspects of the mining industry. Our group consists of a brain bank of project acquisition, exploration and development professionals, including dedicated CEOs, geologists, engineers, corporate finance and investor relations experts, corporate managers, public company administrators, and regulatory and government affairs specialists. To date, IMG companies (past and present) have completed over 300 option/joint venture agreements with major, mid-tier and junior companies and raised over $250,000,000 to advance their projects throughout 9 countries.
In February 2014, Next Gen Metals Inc., a member of the IMG Group of Companies, became a diversified public company which focusses on investments in the Medical Marijuana, Industrial Hemp and Mineral Exploration industries. Pacific North West Capital Corp. (TSXV: PFN, OTCBB: PAWEF, FSE: P7J) is a majority shareholder of Next Gen Metals Inc.
On behalf of the Board of Directors
President & CEO
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This News Release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The CSE has neither reviewed or approved the contents of this News Release.
SOURCE Next Gen Metals Inc.