James E. Wagner Cultivation Corporation announced that it has entered into a Memorandum of Understanding ("MOU") with CannNext BV ("CannNext") pursuant to which JWC will assist CannNext with its tender to the Government of the Netherlands for a licence to produce medical cannabis in the Netherlands (the "Tender"). In support of CannNext's Tender, JWC has provided certain necessary commitments and attestations required by the Government of the Netherlands. In addition, in connection with the Tender process and, if the Tender is successful, the resulting anticipated production of medical cannabis in the Netherlands, JWC will provide CannNext with industry knowledge and experience related to the cultivation and production of medical cannabis for a consumer market. The MOU outlines the parties' intention to collaborate in developing cannabis cultivation best- practices. This will involve research and development related to strains, grow methods and lighting practices. JWC and CannNext also intend to negotiate a definitive agreement pursuant to which CannNext will agree to represent JWC in the Netherlands and the European Union for licensing of JWC's GrowthSTORMTM technology. JWC will also acquire a minority equity position in CannNext.