LOS ANGELES, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Los Angeles-based Cannabis Strategic Ventures Inc. (OTC: NUGS) is proud to announce the first round of product sales from the inaugural harvest of its wholly owned and operated flagship greenhouse farm, NUGS FARM (www.nugsfarm.com), located in Northern California. The 6-acre cannabis operation is expected to reach full capacity by year-end and has started booking sales for more than 13 of its unique flower strains.
“We are excited to start selling product from NUGS FARM inaugural harvest. Booking our first round of sales is an exciting milestone for our Company and all stakeholders,” said Simon Yu, CEO, Cannabis Strategic Ventures. “Our team is overwhelmed with the level of interest in NUGS FARM cannabis flower. We believed this a testament to the quality of our high-tech cultivation process and our commitment to quality, growth and infusing the California legal markets with exceptional cannabis flower and products.”
NUGS FARM is a high-tech greenhouse operation located in an agriculturally rich region of California. NUGS FARM holds 19 cultivation, manufacturing and distribution licenses issued by the Bureau of Cannabis Control in the state of California. The combination of natural sunlight and high-tech mixed light greenhouses will allow NUGS FARM to harvest quality cannabis flower multiple times per year.
Recent industry figures from New Frontier Data estimate that overall sales within the legalized U.S. cannabis industry are expected to reach $13.6 billion throughout 2019, for a 32% increase over 2018 totals worth $10.3 billion.
Cannabis Strategic Ventures plans to expand its operations within this burgeoning market by adding on-site processing and manufacturing for oils, extracts, pre-rolls and more.
“We look forward to the continued expansion of NUGS Farm and the opportunity to scale Cannabis Strategic Ventures as one of the largest cannabis cultivators in the state of California,” stated Yu.
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 that 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.
Contact:
Arlene Guzman
Phone:+1-310-359-6860
Email: IR@CannabisStrategic.com
Website: http://www.CannabisStrategic.com
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