LOS ANGELES, March 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NUGL Inc. (OTC: NUGL) (the “Company”), a technology and multimedia platform for the cannabis industry, is pleased to announce it has partnered with Harbor Gates Capital, LLC (“Harbor”).
“NUGL is a unique opportunity for us at Harbor. We are impressed with the foundation that has been built over the past two years and see the Company as a long-term investment for us - they're really positioned perfectly to become an industry leader in the cannabis technology field,” stated a senior member at Harbor Gates Capital, LLC.
NUGL has been growing steadily during the downturn in the market and cannabis industry. The fourth quarter financials show the company’s largest quarter growth yet. “I attribute our growth during the industry contraction period by having diversified revenue and a low level of entry for cannabis companies to market in our community. The financing we secured with Harbor will allow us to scale faster and gain more market share,” stated CJ Melone, CEO of NUGL. “We not only have grown our revenues over 20% from the first quarter of 2019 to the fourth quarter, but we have streamlined the company’s operations and show a 30% reduction in controlled cost over the previous year,” added Tom Bouse, CFO of NUGL.
NUGL has recently launched its enhanced search functionality in BETA making it easier for consumers to find products and services in the cannabis industry. In addition, NUGL has increased its development team by 200% preparing for the 2020 launch of its social media platform and additional software features.
About Harbor Gates Capital, LLC
Founded in 2016, Harbor Gates Capital, LLC provides working and expansion funding to small public companies through a variety of investment structures. Harbor manages its own private capital and is not a broker or finder – allowing us to make quick and creative decisions by deploying our own personal investment funds on an accelerated timeline. We pride ourselves on building long term relationships with our client companies to ensure that they have the resources necessary to propel their growth year after year.
For more information and updates, visit one of the links below.
NUGL Website: https://www.nugl.com/
NUGL Magazine: https://nuglmagazine.com/
Instagram (IG): https://www.instagram.com/nuglofficial/
Facebook (FB): https://www.facebook.com/nuglofficial/
Twitter (TW): https://twitter.com/nuglofficial/
LinkedIn (LI): https://www.linkedin.com/company/nuglofficial
YouTube (YT): https://www.youtube.com/c/NUGLMedia
NUGL Newsletter: http://eepurl.com/dtB2kn
Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans”, “anticipates,” “expects,” “believes” or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in the company’s business plan and filings with the OTC Markets Group.