LOS ANGELES, Dec. 06, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures, Inc. (OTC: NUGS) announced its pursuit of twenty cannabis licenses from the California Bureau of Cannabis Control that will lead to the development of a substantial cannabis growth operation of approximately 250,000 square feet of turnkey greenhouse space in California. The Company will commence cultivating as soon as licenses are issued.
The targeted cultivation site is located in central California, an area with a rich agricultural heritage and well-established distribution infrastructure. The targeted location is equipped with 250,000 square feet of greenhouse space and mostly in-place irrigation, storage facilities and other critical infrastructure components that will allow operations to begin under the Cannabis Strategic Ventures name immediately after receiving permitting.
Simon Yu, CEO, Cannabis Strategic commented, “This is a significant event for our Company and its investors. At approximately one quarter million square feet, this cultivation operation will have four or five cultivation cycles each year and each cycle will be capable of producing tens of thousands of pounds of high-quality flower.”
According to industry publication, Marijuana Business Daily, cannabis cultivators in the central California Valley are yielding an average of 30 grams per square foot of cultivation space within the “Mixed-light” environment for greenhouse with up to five cultivation cycles possible each year.
Yu added “Our agents have filed for the licenses and with these greenhouses already in place we would plan a very rapid initiation of cultivation on the property. We are in the process of analyzing several other similar operations to further fuel our growth prospects.”
Cannabis Strategic Ventures, while recently primarily focused on branding activities relating to its Fitamins, Halo Filter and The Asher House CBD pet-focused product, now plans to expand its investment and operational activities to include other areas of the growing cannabis business sector. Planned company expansions will be in the areas of cultivation, processing of cannabis inputs and products and cannabis retailing. Cannabis Strategic Ventures management is actively vetting business opportunities in all such industry subsectors to maximize value for shareholders.
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 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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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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