- Advance
of cannabis legalization efforts in Canada and the United States bode well
for cannabis industry
- Cannabis
Strategic Ventures focused on incubating enterprising new talent and, now,
cultivating cannabis product
- Cannabis
industry expected to see $32 billion in annual trade within next five
years
Canada’s completion of its efforts to legalize cannabis for
a full range of uses last month, coinciding with a few U.S. state votes on
potential uses of cannabis this month, highlights the advancing popularity of
adopting the plant for widespread commercialization, and Cannabis Strategic
Ventures, Inc. (OTC: NUGS) is helping to foster serious businesses that want to
be a part of this emerging, powerful market.
Despite marijuana’s long cultural association with dopey
behavior and decreased intelligence, the cannabis plant has transformed its
image in recent years to one of a calming product similar to beer that can be
consumed socially, even by progressive and upscale crowds. This is nowhere more
apparent than in Canada, for which October marked a line of demarcation as a
variety of adult recreational uses of the drug became legal on a national
scale (http://ibn.fm/yzrdd).
The United States’ mid-term elections provided the potential
for an increasing number of recreational-use states, as well as growth in the
somewhat less controversial medicinal and wellness use arena. Nine states and
Washington, D.C. currently allow recreational marijuana use despite ongoing
federal prohibition, and the vote in Michigan and North Dakota on its
acceptance created the potential for legal recreational use among a quarter of
the U.S. population (http://ibn.fm/Lbgh2).
Meanwhile, two other states’ votes on medicinal uses of marijuana and its
non-druggy hemp sibling created the potential for that use case to become legal
in more than half of U.S. states.
Cannabis industry incubator Cannabis Strategic Ventures has
taken the measure of the plant’s growing potential and is building a worldwide
portfolio of companies in the startup and growth stages that can benefit from
Cannabis Strategic Ventures’ resources and expertise while allowing investors a
place to jump into the emerging market.
In late October, the company announced that it is preparing
to add to its product line by entering the cannabis cultivation arena (http://ibn.fm/UNgpm) through
acquisitions, beginning in California.
“Currently, the Cannabis Strategic Ventures team is
targeting several locations in excess of 200,000+ square feet that have
existing cultivation infrastructures in place, which will allow us to move into
cultivation very quickly,” company CEO Simon Yu stated in a news release about
the plans.
The strategy not only provides Cannabis Strategic Ventures a
potential source for its subsidiaries’ products; it also allows the company the
flexibility it needs to continue acquiring more brands.
All of this posits the company’s increasing fortunes with
investors and business partners as it continues to finalize its application for
recognition under the U.S. Securities and Exchange Commission to become a fully
reporting participant on a national OTC exchange (http://ibn.fm/D25iE).
According to a joint 2018 executive summary authored by
Arcview Market Research and BDS Analytics, the demand for legal cannabis is
expected to produce revenues of about $32 billion in less than five years,
according to a Cannabis Strategic Ventures news release.
“Growth is on the horizon for the cannabis industry as
recreational and medical markets continue to expand, and legalization continues
to spread across the country,” Yu stated in a news release. “The Cannabis
Strategic Ventures team is confident that moving into cannabis cultivation will
allow us to significantly expand our revenue base and provide a strong path for
continued financial growth.”
For more information, visit the company’s website at www.CannabisStrategic.com
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