Cannabis Strategic Ventures Announces Operational State of NUGS Farm North and Guides on Potential Revenue
May 30 2019 - 6:00AM
InvestorsHub NewsWire
Cannabis Strategic Ventures Announces
Operational State of NUGS Farm North and Guides on Potential
Revenue
LOS ANGELES, CA -- May 30, 2019 --
InvestorsHub NewsWire -- Los Angeles-based Cannabis Strategic
Ventures Inc. (OTC:
NUGS) today introduces the strategic direction of its wholly
owned and operated flagship farm, NUGS Farm North, located in
Northern California. The fully operational, six-acre marijuana
cultivation operation is expected to reach complete capacity by the
fall of 2019, and will position Cannabis Strategic Ventures as one
of the largest cultivators in terms of volume in the state of
California.
“We believe the operationalization
of NUGS Farm North will enable us to become one of the largest
legal cultivators and distributors of multiple types of cannabis
products in California and the United States. Located in an area of
rich agricultural heritage, the growing conditions at NUGS Farm
North will yield a significant tonnage of the highest quality
marijuana in the world,” said Simon Yu, CEO. Cannabis Strategic
Ventures. “We are proud of our teams on the ground and in the
corporate office – both of which are diligently working to grow
quality plants of some of the most popular varietals, and to secure
the financial and operational resources to make this
possible.”
Cannabis Strategic Ventures provides
the following details regarding the operations and revenue guidance
for output of cultivation at NUGS Farm North:
- The
site is slightly larger than six acres and will be utilized for
greenhouse cannabis cultivation, with products ranging from fresh
frozen to trim for THC oil production.
- According to Cannabis Benchmarks ®,
the average plant at the greenhouse facility is expected to produce
more than one pound of quality product.
- Multiple crops are expected each
year and total output could reach an excess of 120,000 pounds per
year.
- According to industry data, the
average price of licensed marijuana in California averages
approximately $1,197 per pound. Additionally, Cannabis Strategic
Ventures plans on adding on-site processing and manufacturing to
further boost revenues.
- The
current operation holds 24 cultivation, manufacturing and
distribution licenses issued by the Bureau of Cannabis Control in
the state of California.
- The
recent OTCQB uplisting has prompted significant investor interest
and involvement in NUGS Farm North. The grow projections have
created increased investor interest and commitments of substantial
funds to finance and expand the operation.
- The
Company plans to announce the details of the extensive financing
package over the coming weeks.
“Our team is quickly becoming one of
the largest publicly traded operations within the U.S. cannabis
marketplace,” added Yu. “We thank our investors who continue
to support our growth and are excited to provide an update on the
details of our extensive financing package.”
About Cannabis Strategic
Ventures
Cannabis Strategic Ventures Inc. is
one of the largest publicly traded marijuana cultivators in the
United States. The Firm is Los Angeles-based that incubates,
develops and partners with category leaders within the cannabis
sector. The Firm's NUGS brand experience provides operational and
financial strategic partnerships and a range of essential services
to emerging and existing cannabis consumer brands. The company
recently completed a name and symbol change from Cascade Energy,
Inc. Cannabis Strategic Ventures is publicly 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:
Arlene Guzman
Phone:+1-310-359-6860
Email: IR@CannabisStrategic.com
Website: http://www.CannabisStrategic.com
Corporate
Communications:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
212.418.1217
Office
Editor@NetworkWire.com
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