- Appointment
of new board member with expertise in finance
- Company
is preparing to uplist to a national exchange
- BudHire
subsidiary to offer staffing services to cannabis industry
- Retail
initiatives continue under “Pure Organix” brand
The appointment of Alan Tran to the board of directors of
Cannabis Strategic Ventures, Inc. (OTC: NUGS) augurs well for the company’s
fortunes, because it is an action that’s likely to be replicated across the
cannabis industry. A report in Forbes (http://ibn.fm/TMLbP) titled ‘Marijuana is the
Fastest-Growing Job Category, Top Recruiting CEO Says’ shows that those forces
are already in play. Now that 31 states and Washington, DC have legalized
medical marijuana and 10 of those jurisdictions have done the same with
recreational cannabis, “there’s 445 percent growth in job listings… year over
year.” Cannabis Strategic Ventures aims to capitalize on that trend.
Earlier this year, the company completed a definitive agreement to acquire
Worldwide Staffing Group, Inc., which, in 2017, booked approximately $1.5
million in revenues. Its hire of Tran is the first in a series of steps to be
taken as it prepares to uplist its common shares to a national exchange.
Cannabis Strategic Ventures anticipates that the proposed
uplisting will provide readier access to capital. Undoubtedly, it will increase
the market and liquidity of the company’s securities. In preparation for the
uplisting, the company finalized the audit of its fiscal year ended March 31,
2018, marking the completion of the last of three audits required by the U.S.
Securities & Exchange Commission as a condition of becoming a fully
reporting company. Tran’s expertise in finance and strategy is expected to play
a crucial role as the company takes its operations to the next level (http://ibn.fm/rI7nL).
The legal cannabis industry is projected to reach
over $24 billion by 2021, growth that will only be possible if
staffing requirements are satisfied. As the industry matures, a variety of
supporting services will be needed, creating thousands of jobs. Some of those,
like bud trimmers, bud tenders and customer service reps, will “touch” the
plant, but many others, including those in fields such as accounting, marketing
and legal, will not. The company’s acquisition of Worldwide Staffing positions
it to leverage the latter’s expertise in general clerical, administrative,
marketing, accounting and other verticals (http://ibn.fm/5FnLL). However, Worldwide Staffing will be
operated as an independent subsidiary, providing strictly non-cannabis-related
employment and staffing services.
Staffing services for the cannabis industry will fall under
the aegis of another subsidiary, BudHire, an outsourced employment service
specifically designed to meet the growing needs of cannabis-related business
operations. BudHire will utilize a proven recruiting formula to match the most
qualified candidates to a broad spectrum of cannabis-related jobs. The division
will offer both temporary and permanent staffing solutions, as well as
professional employment organization services and human resources consulting to
the cannabis industry.
In addition, Cannabis Strategic Ventures is continuing its
retail initiatives. In July, it signed an agreement with Sunniva Inc. (CSE:
SNN) (OTCQX: SNNVF), under which a Sunniva subsidiary, CP Logistics, LLC (CPL),
will provide cannabis concentrate extraction services to Pure Applied Sciences,
Inc. (PAS), a wholly owned subsidiary of Cannabis Strategic Ventures. CPL will
perform white label services, producing high quality, ultra-purified cannabis
extracts out of its Sun-Oil Facility in Cathedral City,
California, for PAS under the “Pure Organix” brand name, a brand recently
acquired by Cannabis Strategic Ventures. The agreement is for a 12-month term
and may be renewed for an additional 12 months at the request of PAS at the
expiry of the initial term (http://ibn.fm/kIkfB).
For more information, visit the company’s website at www.CannabisStrategic.com
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