SOURCE: New Wave Holdings, Inc.

New Wave Holdings, Inc.

August 17, 2016 12:01 ET

New Wave Holdings, Inc. Announces LOI for Reverse Merger of a Physicians Practice Management Company Focused in Cannabis and Alternative Health Markets

FORT WAYNE, IN--(Marketwired - Aug 17, 2016) - New Wave Holdings, Inc. (OTC: NWAV) announces today that it has signed a proposal to purchase the assets and operations of PAO Group, Inc., a physicians practice management company with zero debt, actively developing alternative medicine clinics focused on the proper use of cannabis for treatment of chronic and terminal patients.

The Board has agreed that upon finalization of a definitive agreement, that current officers of New Wave will resign in favor of electing target subsidiary's management. Pursuant to the terms of the LOI, Mark B. Newbauer and Steve Devine will maintain management of the current operating subsidiaries, which will be subject to review over the next 90 days by the Board of Directors toward best benefit to shareholders as operating managers continue to grow the platforms.

Executives from both companies anticipate the transaction to be finalized by end of month.

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New Wave Holdings is a Holding Company focused in electronic payment services and solutions with a focus in bringing innovative prepaid programs to market. The company strives to be a leading contender in the issuance of prepaid solutions and services that are both highly marketable and with socially conscious profitability.

Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

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