Nextgen Cannabis Consulting, LLC, a Wholly Owned Subsidiary of Next Generation Energy Corp., Announces LOI To Purchase 20 Percent of Los Angeles Medical Marijuana Dispensary

Next Generation Energy Corp. (NGMC) today announced that it has signed a Letter of Intent (LOI) for its wholly owned subsidiary, Nextgen Cannabis Consulting, LLC, to purchase 20 percent of the Capital Stock of Greens R US, Inc., a private company that operates a medical marijuana dispensary in Los Angeles.

“This is part of our very sophisticated business plan to enter the Medical Marijuana industry, a very exciting new sector,” said Darryl Reed, CEO.  The Company also earlier announced its intention to open a flagship Medical Marijuana Dispensary in Southern California.

The parties to the LOI anticipate closing the transaction on or before April 30, 2014.  The agreement is subject to the approval of Next Generation’s Board of Directors. “The growth opportunities in the Medical Marijuana industry are enormous,  We believe that more cities and states are going to approve the use of marijuana for patients and we plan to be very aggressive in putting our footprint into this industry, including making our Company a national brand,” Mr. Reed said.