Cannabis Strategic Ventures Announces Record-Breaking April Sales Performance
April 29 2020 - 8:30AM
InvestorsHub NewsWire
LOS ANGELES,
CA -- April 29, 2020 -- InvestorsHub NewsWire -- Cannabis Strategic
Ventures (OTCQB:NUGS)
(“NUGS” or the “Company”), an emerging leader in the U.S. cannabis
marketplace, is pleased to announce that it has seen record total
monthly cannabis sales and record sequential monthly cannabis sales
growth so far in the month of April, with total gross cannabis
sales for April running at an annualized pace of more than $6
million, up more than 400% over average monthly sales seen in
calendar Q1.
“This data
should help to better contextualize our prior announcement
detailing our expansion in total cannabis production
capacity,”
commented Simon Yu, CEO of Cannabis Strategic
Ventures. “Demand is through the roof. We don’t see this as a
consequence of the stay-at-home policy. This is about improving
market positioning in a strong structural growth boom. We are
establishing a wider and wider footprint in terms of distribution
partners, and the overall market is continuing to experience
powerful growth in demand at the end market
level.”
Management
notes that the Company finalizes sales on a midweek basis and has
started to consistently run out of inventory each week. However, as
announced in its release dated April 23, 2020, the Company has
recently expanded total cannabis production capacity at NUGS Farm
by 88% to 150%, which means it may be producing approximately twice
as much cannabis product over the next 45 to 60 days as it has
produced so far this year.
This factor,
along with a seasonal tailwind in cannabis pricing, carries the
potential for further strong growth in gross cannabis sales over
the coming period.
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
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