Cannabis Strategic Ventures Signs Letter of Intent to Access Approximately 40 Licenses in Santa Barbara County
LOS ANGELES, CA -- January 16, 2019 -- InvestorsHub NewsWire -- Cannabis Strategic Ventures, Inc. (OTC: NUGS) today announces that it has signed a Letter of Intent to partner with a Santa Barbara County cultivation operation that holds approximately 40 commercial cannabis licenses from the County of Santa Barbara, the California Bureau of Cannabis Control, the Manufactured Cannabis Safety Branch, and the CalCannabis Cultivation for growth, manufacturing and cultivation. The parties involved are working on a final agreement.
“As we increase Cannabis Strategic Ventures’ stronghold in the California cannabis market, we are pursuing partnerships that are strategically aligned with our corporate growth plans,” comments Simon Yu, CEO, Cannabis Strategic Ventures. “Obtaining access to a large batch of licenses located between the cannabis-friendly cities of San Francisco and Los Angeles will allow us to expedite our growth and scalability.”
A Pew Research study from September states that 62% of Americans support legal cannabis, double the support recorded in 2000, highlighting increased acceptance for cannabis-friendly regulations. As consumer demand for recreational and medicinal cannabis continues to grow, industry leaders are forced to solidify suppliers for their distribution channels.
“Cannabis Strategic Ventures is excited for 2019 and what increases in consumer demand could mean for our brand,” comments Yu. “We remain focused on managing our business operations for growth and making sure we are well prepared to keep up with the momentum of the cannabis industry.”
About Cannabis Strategic Ventures (NUGS)
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.
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