Cannabis Strategic Ventures Plants 20,000 Cannabis Plants at New 6-Acre Licensed Site; First Harvest Expected this Summer
April 25 2019 - 6:00AM
InvestorsHub Cannabis NewsWire
Los
Angeles, CA -- April 25, 2019 -- InvestorsHub NewsWire --
Los Angeles based Cannabis Strategic Ventures Inc. (OTC: NUGS)
today announces a major addition to its corporate portfolio through
the launch of a six-acre cannabis cultivation site expected to
produce a minimum of 30,000 pounds of cannabis per harvest, with an
anticipation of four to five harvests per
year.
The
site, which has been named NUGS Farm North, is located in Northern
California. NUGS Farm North is primarily a cultivation operation
but will also host manufacturing and distribution business units
for Cannabis Strategic Ventures. In total, the site holds 24
cultivation, manufacturing and distribution licenses issued by the
Bureau of Cannabis Control in the State of California. NUGS Farm
North is expected to operate at maximum capacity by late summer of
2019.
“This
is a significant event for Cannabis Strategic and its investors,”
commented Simon Yu, CEO Cannabis Strategic Ventures. “NUGS Farm
North has planted over 20,000 marijuana clones this week and will
plant 10,000 more next week. Beyond the initiation of this first
phase of NUGS farm North, we anticipate further expansion towards
maximum capacity, which will increase top line
revenue.”
Cannabis industry figures show that cannabis
plants yield more than one pound of cannabis per harvest. In
California, the wholesale price for cannabis opened 2018 at $1,455
per pound and closed the year at $1,196 per pound, averaging $1,197
per pound for the year, according to Cannabis
Benchmarks.
The
Company has retained a highly skilled team to operate NUGS Farm
North consisting of experts with over a dozen years of full
lifecycle cannabis operations, as well as research scientists with
vast scientific, medical and laboratory backgrounds unique to
cannabis operations.
“NUGS
Farm North is in a prime location. We have assembled a great team
to operate the site and to market and distribute its outputs.
We have already begun cultivation and believe the marketplace is
primed for the type of premium cannabis flower we are
cultivating. We look forward to a successful operation at our
flagship cultivation site,” added Yu.
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
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. For more information, visit 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.
Contact:
Arlene Guzman
1-310-359-6860 Office
IR@CannabisStrategic.com
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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