Cannabis Strategic Ventures Announces Operational State of NUGS Farm North and Guides on Potential Revenue
Los Angeles, CA – May 30, 2019 – Cannabis Strategic Ventures Inc. (OTCQB: NUGS) today introduces the strategic direction of its wholly owned and operated flagship farm, NUGS Farm North, located in Northern California. The fully operational, six-acre marijuana cultivation operation is expected to reach complete capacity by the fall of 2019, and will position Cannabis Strategic Ventures as one of the largest cultivators in terms of volume in the state of California.
“We believe the operationalization of NUGS Farm North will enable us to become one of the largest legal cultivators and distributors of multiple types of cannabis products in California and the United States. Located in an area of rich agricultural heritage, the growing conditions at NUGS Farm North will yield a significant tonnage of the highest quality marijuana in the world,” said Simon Yu, CEO. Cannabis Strategic Ventures. “We are proud of our teams on the ground and in the corporate office – both of which are diligently working to grow quality plants of some of the most popular varietals, and to secure the financial and operational resources to make this possible.”
Cannabis Strategic Ventures provides the following details regarding the operations and revenue guidance for output of cultivation at NUGS Farm North:
- The site is slightly larger than six acres and will be utilized for greenhouse cannabis cultivation, with products ranging from fresh frozen to trim for THC oil production.
- According to Cannabis Benchmarks ®, the average plant at the greenhouse facility is expected to produce more than one pound of quality product.
- Multiple crops are expected each year and total output could reach an excess of 120,000 pounds per year.
- According to industry data, the average price of licensed marijuana in California averages approximately $1,197 per pound. Additionally, Cannabis Strategic Ventures plans on adding on-site processing and manufacturing to further boost revenues.
- The current operation holds 24 cultivation, manufacturing and distribution licenses issued by the Bureau of Cannabis Control in the state of California.
- The recent OTCQB uplisting has prompted significant investor interest and involvement in NUGS Farm North. The grow projections have created increased investor interest and commitments of substantial funds to finance and expand the operation.
- The Company plans to announce the details of the extensive financing package over the coming weeks.
“Our team is quickly becoming one of the largest publicly traded operations within the U.S. cannabis marketplace,” added Yu. “We thank our investors who continue to support our growth and are excited to provide an update on the details of our extensive financing package.”
About Cannabis Strategic Ventures
Cannabis Strategic Ventures Inc. is one of the largest publicly traded marijuana cultivators in the United States. The Firm is Los Angeles-based that incubates, develops and partners with category leaders within the cannabis sector. The Firm’s NUGS brand experience provides operational and financial strategic partnerships 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.
FORWARD-LOOKING STATEMENTS: This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
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.
New York, New York
Source: Cannabis Strategic Ventures Inc.