Cannabis Strategic Ventures Cancels 75.6 Million Shares, Including 20 Million Shares From CEO
August 29 2018 - 8:30AM
InvestorsHub NewsWire
Cannabis
Strategic Ventures Cancels 75.6 Million Shares, Including 20
Million Shares From CEO
Los Angeles, CA -- August 29, 2018
-- InvestorsHub NewsWire -- Cannabis Strategic Ventures, Inc.
(OTC:
NUGS) announces a major common share restructuring. A total of
75.6 million shares cancelled, including 20 million from Chief
Executive Officer, Simon Yu.
The share cancellations are designed to
increase shareholder value for all shareholders and will allow
Company managers, consultants, minority shareholders, and other key
Cannabis Strategic Ventures stakeholders to increase corporate
flexibility relative to future brand-oriented strategic
acquisitions and partnerships.
“The share cancellations increase value
for all shareholders and signals to minority shareholders on the
management team’s interest in building long-term value for all,”
commented Mr. Simon Yu, CEO, Cannabis Strategic Ventures.
Yu is cancelling 20 million shares of
his personal holdings. Additionally, Cannabis Strategic
Ventures consultants and associates are canceling an additional
55.6 million shares. In total, approximately 25% of the total
shares are being cancelled via this action.
The Company recently announced major
partnerships with, Fitamins and Asher House Pet CBD, both premium
brands in the multi-million dollar CBD products market.
Through the acquisitions, the Company gained access to Fitamins’
network of more than 600 wholesalers that distribute products to
the Asian-American market; while The Asher House Pet CBD is gaining
national attentional for their cross-country road show promoting
Pet Adoption and Pet CBD.
Mr. Yu continued, “The future of
Cannabis Strategic Ventures is all about acquiring and partnering
with the best brands in the fast-growing cannabis marketplace. The
streamlined share structure will continue to make our Company an
attractive partner as we work toward signing other similar brands
and distribution partnerships.”
About Cannabis Strategic
Ventures
Cannabis Strategic Ventures is based
in Los Angeles and is focused on supporting
entrepreneurial growth within the fast-growing cannabis sector. The
Company recently completed a name and symbol change from Cascade
Energy, Inc. Cannabis Strategic Ventures partners with the best
brands in the cannabis sector. Cannabis Strategic Ventures is
publically traded on the U.S. Over the Counter Market with the
stock symbol NUGS.
Contact: Arlene Guzman
Phone: +1-310-359-6860
Email: ir@cannabisstrategic.com
Website: http://www.cannabisstrategic.com
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.
Cannabis Strategic Ventu... (CE) (USOTC:NUGS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cannabis Strategic Ventu... (CE) (USOTC:NUGS)
Historical Stock Chart
From Sep 2023 to Sep 2024