CANNABIS STRATEGIC VENTURES FOCUSES ON EXPANDING BRAND PORTFOLIO TO INCLUDE CANNABIS CULTIVATION OPERATIONS
October 26 2018 - 9:10AM
InvestorsHub NewsWire
Cannabis
Strategic VENTURES FOCUSES on EXPANDing brand PORTFOLIO to INCLUDE
Cannabis Cultivation operations
LOS ANGELES, CA
-- October 26, 2018 -- InvestorsHub NewsWire --
Cannabis Strategic Ventures, Inc. (USOTC:
NUGS) today announced its plans to expand its business
portfolio to include cannabis cultivation. The Company has started
its pre-acquisition due diligence process for prospective
cultivation properties located in states where cannabis cultivation
is legal.
Mr. Simon Yu, CEO
of Cannabis Strategic, commented, “We have identified several
cannabis cultivation locations in California, and have started
analyzing these for possible acquisition. Currently, the Cannabis
Strategic Ventures team is targeting several locations in excess of
200,000+ square feet that have existing cultivation infrastructures
in place, which will allow us to move into cultivation very
quickly.”
The Company
believes expanding into cannabis cultivation also supports and
expands its current brand forward strategy and will allow
management increased flexibility in negotiating for acquisitions of
other brands. Additionally, there will be many opportunities
to vertically integrate production by allowing the Company’s brands
to source products inputs from the cultivation
operation.
After more than
80 years of cannabis prohibition, the legal cannabis market is
booming with opportunity as more states adopt cannabis-friendly
legislation. According to a joint 2018 executive summary authored
by Arcview Market Research and BDS Analytics, the overall worldwide
consumer demand for legal cannabis is now projected to be worth
approximately $32 billion by the years
2022.
“Growth is on the horizon for the cannabis industry as
recreational and medical markets continue to expand, and
legalization continues to spread across the country.
The Cannabis
Strategic Ventures team is confident that moving into cannabis
cultivation will allow us to significantly expand our revenue base
and provide a strong path for continued financial growth,” Yu
added.
About
Cannabis Strategic Ventures
Cannabis Strategic Ventures is a Los Angeles based
firm that incubates, develops and partners with category leaders
within the cannabis sector. The Firm’s NUGS brand experience
provides mentorship 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.
Contact: Arlene Guzman
Phone: +1-310-359-6860
Email: ir@cannabisstrategic.com
Website: http://www.cannabisstrategic.com
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