NewBridge Global Ventures, Inc. Announces Formation and Licensing of Distribution Company, Green Thumb Distributors, Inc.
Addition of Distribution Arm Completes Vertical Integration
Alameda, California, Oct. 09, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NewBridge Global Ventures, Inc. (“NewBridge” or the “Company”), (OTCQB: NBGV), a company focused on the emerging and dynamic legal and regulated cannabis industry, today announced that it has completed the formation of Green Thumb Distributors, Inc. (“Green Thumb”).
Green Thumb has applied for Type 11 distribution licenses in California which will allow for the transporting of cannabis goods as well as laboratory testing, quality assurance review, ensuring compliance with all packaging and labeling requirements and storage of cannabis goods. Since the start of 2018, California has required both adult use and medical marijuana to pass through a distributor before reaching a retailer. A new 5,000 square foot warehouse located in the “Green Zone” of Oakland, California will be operational later this year.
Bob Bench, Interim President of NewBridge commented, “The formation of Green Thumb Distributors completes NewBridge’s vertical integration along with the acquisitions we recently completed that includes: genetics, cloning, cultivation, extraction, consulting, and education. Taken together, the acquisition of the consortium of companies in California, the subsequent $3 million capital raise, and now the formation of Green Thumb, delivers on our team’s commitment to build out a fully integrated vertical cannabis platform and provides NewBridge with a strong foundation for rapid growth and expansion as we continue to build a world-class portfolio of companies and assets within the legal cannabis industry.”
About NewBridge Global Ventures
NewBridge Global Ventures, Inc. (OTCQB: NBGV) is a US public company acquiring and currently operating a vertically integrated portfolio of California cannabis and hemp companies. Our vertical structure includes: genetics, cloning, cultivation, manufacturing, distribution, consulting services to industry entrepreneurs, and education for medical professionals. We believe by focusing on compliance, industry best practices, standardization, and corporate governance NewBridge Global Ventures, Inc. will be squarely positioned for rapid sales growth in the legal California cannabis and industrial hemp Industry.
Statements about the expected timing, and all other statements in this press release, other than historical facts, constitute forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date hereof and are based on current expectation and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those projected. A number of the matters discussed herein that are not historical or current facts deal with potential future circumstances and developments that may or may not materialize. This press release speaks only as of its date, and except as required by law, we disclaim any duty to update. Contact for NewBridge Global Ventures, Inc. (OTCQB: NBGV)
NewBridge Global Ventures, Inc.
2545 Santa Clara Ave
Alameda, CA 94501
Bob Bench, Interim President
PCG Advisory Group
Released October 9, 2018