|By PR Newswire||
|March 7, 2014 09:16 AM EST||
FAIRFAX, Va., March 7, 2014 /PRNewswire/ -- Next Generation Energy Corp. (OTCQB:NGMC), a holding company specializing in oil and natural gas assets, today announced that the Board of Directors has approved a plan to redirect resources and to focus its core business on the fast growing medical marijuana industry. The Company plans to focus on the acquisition of retail and cultivation licenses throughout North America, as well as the development of a national brand.
"NextGen isn't just another company entering the Medical Marijuana industry, which has proven to be very exciting for investors in recent months," stated Darryl Reed, CEO. "We are undertaking a very sophisticated business plan that has been in development over the last five years. As more states are legalizing marijuana and there is significantly more discussion on the use of marijuana for medical purposes, we are convinced that now is the time to launch our very aggressive platform."
Initial operations are scheduled to begin in Los Angeles County, California. "Our turn-key DMS services will include real estate management, marketing, product training, staffing, sales training, facilities management, security systems to include armed guards, video surveillance, loss prevention systems, and a full suite of cloud based IT solutions to manage all aspects of the supply chain from seed to sale. We recognize the significant growth opportunities in the medical marijuana industry and are aggressively seeking to capitalize on these opportunities as the sector continues to evolve," Mr. Reed said.
In further news, the Board has taken up consideration of a name change to reflect the new direction of the company.
("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
E & E Communications
SOURCE Next Generation Energy Corp.