New Wave Subsidiary, Way of Will, Announces Completion of Facility Expansion

Rhea-AI Summary

New Wave Holdings Corp. (OTCPK: TRMNF) announces the completion of Way of Will's facility expansion in Toronto, increasing from 8,000 sq ft to 20,000 sq ft. This upgrade includes new manufacturing equipment and a designated packing area, enhancing production capacity to meet growing product demand. Way of Will has experienced sales growth of over 30% and forecasts a remarkable 200-300% increase post-merger with New Wave. The expansion aligns with the company’s growth strategy, aiming to solidify its brand presence in Canada and the U.S.

Positive

• Way of Will's facility expanded from 8,000 sq ft to 20,000 sq ft.
• The expansion will enhance production capacity and workflow.
• Way of Will forecasts a sales growth of 200-300% following its merger with New Wave.

Negative

• None.

TORONTO, Feb. 18, 2021 /PRNewswire/ - NEW WAVE HOLDINGS CORP. (the "Company" or "New Wave") (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNF) an investment issuer that provides capital and support services, is pleased to announce that the expansion of Way of Will's Toronto, ON facility in anticipation of exponential sales growth is now complete.

Way of Will Inc., a fast-growing health and wellness company based in Toronto, Canada, has just completed the expansion of its production facility from 8,000 sq ft to 20,000 sq ft. In addition to the extra space, the facility upgrades also included the installation of additional manufacturing equipment as well as a designated packing area. With the added space and equipment, Way of Will is able to improve workflow and production capacity to meet the growing demands for their products while increasing profit margins at the same time.

Approximately 95% of Way of Will's products are developed and manufactured in its Toronto facility, which is then distributed to wholesalers and retail companies across Canada and the U.S. The company has seen steady positive sales growth of 30% or higher over the past few years, and is forecasting a 200-300% sales growth in light of its recent merge with New Wave Holdings Corp. The facility expansion will accommodate the anticipated increase in production demands as Way of Will continues to increase its brand in both the Canadian and U.S. markets.

"This recent expansion has been a part of our business growth plan for the past year," said Willie Tsang, CEO and founder of Way of Will. "We've got a lot of exciting things in the works and our upgraded facility will help ensure that our operation continues to run smoothly while we continue to grow and evolve."  

ABOUT NEW WAVE HOLDINGS CORP.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTCPK: TRMNF) is an investment issuer focused on the burgeoning nutraceutical and psychedelic sector and support for adaptive and progressive health and wellness products and therapies. New Wave subsidiaries contain various health and beauty products within its portfolio of non-psychoactive plants and fungi as it continues to expand its product distribution through vertical integration to provide end to end solutions while capturing a high margin business model.

Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com.

Information relating to WAY OF WILL INC., contained in this news release was provided by WAY OF WILL INC. and/or its agent and has not been independently verified by the Company. The Company does not take responsibility for the accuracy of such information.

The CSE has not in any way passed on the merits of the Acquisition, and neither has approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. 

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward–looking information, including but not limited to, applicable regulatory approval in connection with the Acquisition, the closing of the Acquisition, expansion of operations, size and quality of future tournaments and projections regarding attendance at future events. Forward–looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward–looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company's actual results could differ materially from those anticipated in this forward–looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward–looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

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SOURCE New Wave Holdings Corp.

FAQ

What is the recent facility expansion announced by New Wave Holdings Corp. (OTCPK: TRMNF)?

New Wave Holdings Corp. has completed the expansion of Way of Will's facility in Toronto, increasing its size from 8,000 sq ft to 20,000 sq ft.

What are the anticipated sales growth figures for Way of Will post-expansion?

Way of Will anticipates a sales growth of 200-300% following its merger with New Wave Holdings Corp.

How will the facility expansion impact Way of Will's production capabilities?

The expansion will improve production capacity and workflow, allowing Way of Will to meet increasing product demands.