Cannabis Strategic Ventures to Acquire Staffing Group with $1.5 million in Revenue
April 24 2018 - 9:25AM
InvestorsHub NewsWire
Cannabis Strategic Ventures to Acquire Staffing Group
with $1.5 million in Revenue
Los Angeles, CA -- April 24, 2018 -- InvestorsHub NewsWire --
Cannabis Strategic Ventures, Inc. (the “Company”)(OTC:
NUGS) today announces the completion of definitive agreement to
acquire Worldwide Staffing Group, Inc. (“Worldwide”) Under the
terms of the agreement, the Company will acquire 100% of
Worldwide’s issued and authorized shares and will begin recognizing
Worldwide’s revenues upon closing of the transaction. During 2017,
the Worldwide Staffing’s group booked approximately $1.5 million in
revenues.
Worldwide will operate within the Company as an independent and
separate wholly owned subsidiary providing strictly non-cannabis
related employment and staffing services. Worldwide will continue
to expand its operations in general Clerical and Administrative,
Marketing, Accounting, and other verticals. The Company will
leverage Worldwide’s expertise in order to expand its business
operations further into the cannabis staffing arena, with a
particular emphasis on the California markets.
Simon Yu, CEO of Cannabis Strategic commented, “With several
business analysts now predicting legal cannabis sales within North
America to be at least $10 billion during 2018 and with estimated
growth to over $24 billion by 2021, we clearly believe our staffing
capabilities will be in a state of accelerating demand. The job
demands in the Cannabis Sector are expanding into other job
functions beyond the traditional Bud Trimmers and Bud
Tenders. This acquisition better prepares us to meet the
growth we are expecting through the end of this year, into next,
and beyond. We welcome Worldwide Staffing into the Cannabis
Strategic portfolio.
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 publicly traded on the
OTC Markets 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: Simon Yu
Phone:+1-310-359-6860
Email: info@cannabisstrategic.com
Website: http://www.cannabisstrategic.com
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