Cannabis Strategic Ventures Doubles Production Capacity, Expects as much as 2,000 Lbs. Output Over Next 45-60 Days
April 23 2020 - 8:30AM
InvestorsHub NewsWire
LOS ANGELES,
CA -- April 23, 2020 -- InvestorsHub NewsWire -- Cannabis Strategic
Ventures (OTCQB:NUGS)
(“NUGS” or the “Company”), an emerging leader in the U.S. cannabis
marketplace, is excited to announce that due to recent management
decisions and production upgrades the Company has increased the
total cannabis production capacity at NUGS Farm (the “Farm”) by 88
percent to 150 percent.
In the absence
of unanticipated setbacks, the Company expects to produce between
1,500 pounds and 2,000 pounds of cannabis product over the next
45-60 days and similar amounts of product over subsequent 45-60 day
periods.
“We have
sharply expanded our production capacity to take advantage of an
extremely advantageous context,” noted Simon Yu, CEO of Cannabis
Strategic Ventures. “Pricing trends are very positive looking ahead
over the spring and summer based on seasonal supply factors, demand
growth is through the roof structurally and due to context-specific
factors, and we are on the verge of launching our branded product
line, which will significantly boost margins. Now is the time to
expand output. Our team at the Farm has done a great job delivering
on that objective.”
Management
notes that the Company has been carrying out strategic analysis and
upgrades on a rolling 30-day basis to drive value for shareholders.
Expanded capacity and output is a result of that process, which
will continue going forward. The increase in capacity is
anticipated to drive a doubling in revenue potential over coming
months.
The Company
also continues to make strides toward the launch of its branded
cannabis product later this quarter. In anticipation of that
launch, it has partnered with one of the fastest growing cannabis
delivery services in California to gain priority access to the
Sacramento and Los Angeles markets. Management believes this
expansion in production capacity was a necessary step ahead of that
launch to satisfy the growing cannabis needs in those
communities.
Yu continued,
“Demand growth is a dependable factor in this market. Where we can
really drive value for our shareholders right now is by optimizing
output and pricing power. This capacity expansion is a huge step in
the right direction that should have very tangible implications for
topline growth.”
Cannabis
Strategic Ventures has a growing social media presence. Follow us
on:
Twitter:
@NUGS_stock
Facebook:
https://www.facebook.com/NUGSstock/
Instagram:
@nugs_farm
About Cannabis
Strategic Ventures
Cannabis
Strategic Ventures Inc. (OTC:
NUGS) is one of the largest publicly traded marijuana
cultivators in the United States. The Company is Los Angeles-based
and incubates, develops and partners with category leaders within
the cannabis and ancillary sectors. 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.
For more
information, visit 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.
Corporate
Contact:
Email:
IR@CannabisStrategic.com
Website: http://www.CannabisStrategic.com
Corporate
Communications:
InvestorBrandNetwork
(IBN)
Los Angeles,
California
www.InvestorBrandNetwork.com
310.299.1717
Office
Editor@InvestorBrandNetwork.com
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