- Company’s
expanding portfolio includes new cultivation ventures with Southern
California partnership and six-acre Northern California NUGS Farm
- Cannabis
industry revenues expected to reach $80 billion in a decade as a result of
current elevated interest among adults
- Cannabis
Strategic Ventures has filed application to uplist to the OTCQB Venture
Market as part of its 2019 growth strategy
Los Angeles-based Cannabis Strategic Ventures Inc. (OTC:
NUGS) is preparing to launch a canopy cultivation site in Northern California
to sustain its brand and build options for its subsidiaries as it seeks to
trade on the OTCQB Venture Market.
The company began the new year with an application for
uplisting to the Venture Market and followed that with the announcement that it
will partner with a Santa Barbara County cultivation operation that holds about
40 commercial cannabis licenses in Southern California. On January 30, Cannabis
Strategic Ventures revealed that it will add the six-acre Northern California
site after having obtained over 20 licenses for cannabis manufacturing,
distribution and cultivation (http://ibn.fm/Nt34d).
“Establishing The NUGS Farm and securing these licenses are
significant milestones for Cannabis Strategic Ventures. We are proud of what we
have accomplished at this stage of the company,” CEO Simon Yu stated in a news
release. “As the cannabis industry expands, and as we work to make cannabis
legal on a federal level, Cannabis Strategic Ventures will be in position to
touch on all areas of cannabis production.”
Cannabis Strategic Ventures first announced in October that
it would begin acquiring properties to augment its operations with cultivation
facilities (http://ibn.fm/9XTtC),
adding that the new focus for the company would allow it to significantly
expand its revenue base and establish a strong path for continued financial
growth.
Cowen market analyst Vivien Azer increased her forecast for
the U.S. cannabis market last month, predicting that sales could reach $80
billion by 2030 if the drug receives fully legal status at the federal level.
“Our increased confidence reflects the bigger than expected
increases that we continue to see for reported cannabis incidence among
adults,” Azer wrote in a note (http://ibn.fm/i2uni).
Cannabis Strategic Ventures has made its name by outsourcing
personnel solutions that are tailor-made for cannabis cultivators,
manufacturers and dispensaries while also seeking investment opportunities in
the areas of real estate, cultivation, extraction, distribution, packaging,
dispensary operations and branded products within the cannabis space,
developing a selective portfolio that matches its vision.
One of its subsidiaries, Pure Applied Sciences Inc., has
developed the brand “PureOrganix” for the high quality concentrate, organic and
pure cannabis oils space. The brand conforms to current Good Manufacturing
Practices (“cGMP”) and meets FDA guidelines for Active Pharmaceuticals
Ingredients (“API”), according to the company. The company’s portfolio also
features a collection of niche brands like Halo Filters, The Asher House
Wellness, Fitamins and LYXR.
The company’s investment strategy welcomes startups, as well
as growth stage businesses, with Cannabis Strategic Ventures providing the
capital, know-how and networking opportunities for the brands’ success.
“We have many new initiatives planned in 2019 and we are
managing our business operations for growth,” Yu stated after announcing the
OTCQB application.
For more information, visit the company’s website at www.CannabisStrategic.com
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