Cannabis Strategic acquires Fitamins CBD brand and distribution network
August 15 2018 - 8:30AM
InvestorsHub NewsWire
Cannabis
Strategic acquires Fitamins CBD brand and distribution
network
LOS ANGELES, CA -- August 15, 2018 --
InvestorsHub NewsWire -- Cannabis Strategic Ventures,
Inc. (OTC
Pink: NUGS) announces the signing of a definitive agreement to
acquire the Fitamins CBD brand. Under the terms of the
agreement, Fitamins will be distributing their vitamin and hemp
derived CBD formulations through their network of 600+ wholesalers
catered to the Asian-American market.
“We have selected Fitamins because of
its substantial distribution network and because of the
import/export and marketing channels that Fitamins already
possesses, giving it a distinct advantage once the brand comes
online this next quarter,” commented Simon Yu, CEO of Cannabis
Strategic. “The Fitamins team includes two principles who
have proven track records with developing and selling multi-million
dollar brands in the Asian Nutraceuticals market along with
significant resources including ownership of multiple “as seen on
TV” local and DirecTV channel segments.”
The agreement between the companies
calls for Fitamins to initially produce a proprietary CBD product
as part of Cannabis Strategic’s brand portfolio, with initially
targeting the United States’ distribution networks and eventually
expanding into other Asia markets that have legalized CBD
products.
Cannabidiol better known as CBD, is one
of the many compounds specifically found in the Cannabis
plant. It is believed that CBD provides therapeutic effects,
such as pain and stress relief, and, unlike THC, does not give the
user a “high” feeling. According to recent estimates from the Hemp
Business Journal, the CBD market is projected to grow to a $2.1
billion market by 2020.
About Cannabis Strategic
Ventures
Cannabis Strategic Ventures is based
in Los Angeles and is focused on supporting
entrepreneurial growth within the fast-growing legal cannabis
sector. The Company, recently completed a name and symbol change
from Cascade Energy, Inc. Cannabis Strategic Ventures offers
outsourced personnel solutions that are tailor made to match the
growth dynamics of cannabis cultivators, manufacturers,
dispensaries, and other cannabis marketplace participants. Cannabis
Strategic Ventures is publically traded on the U.S. Over the
Counter Market with the stock symbol NUGS.
FORWARD-LOOKING STATEMENTS: This
release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements also may
be included in other publicly available documents issued by the
Company and in oral statements made by our officers and
representatives from time to time. These forward- looking
statements are intended to provide management's current
expectations or plans for our future operating and financial
performance, based on assumptions currently believed to be valid.
They can be identified by the use of words such as "anticipate,"
"intend," "plan," "goal," "seek," "believe," "project," "estimate,"
"expect," "strategy," "future," "likely," "may," "should," "would,"
"could," "will" and other words of similar meaning in connection
with a discussion of future operating or financial
performance.
Examples of forward looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
Because forward-looking statements
relate to the future, they are subject to inherent risks,
uncertainties and other factors that may cause the Company's actual
results and financial condition to differ materially from those
expressed or implied in the forward- looking statements. Such
risks, uncertainties and other factors include, among others such
as, but not limited to economic conditions, changes in the laws or
regulations, demand for products and services of the company, the
effects of competition and other factors that could cause actual
results to differ materially from those projected or represented in
the forward looking statements.
Any forward-looking information
provided in this release should be considered with these factors in
mind. We assume no obligation to update any forward-looking
statements contained in this report.
Contact:
Phone:+1-310-359-6860
Email: info@cannabisstrategic.com
Website: http://www.cannabisstrategic.com
SOURCE: Cannabis Strategic Ventures,
Inc.
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