CANNABIS STRATEGIC VENTURES CEO CANCELS 60 MILLION SHARES TO INCREASE SHAREHOLDER VALUE AND TO UPLIST TO OTCQB
LOS ANGELES, Dec. 12, 2018 –Los Angeles, CA – Cannabis Strategic Ventures, Inc. (OTC:NUGS), today announceda major common share restructuring led by Chief Executive Officer, Simon Yu,who will cancel 60 million shares as part of the Company’s efforts to increaseshareholder value and to uplist on the OTCQB Venture Market Place. The OTCQBTier, which has more stringent reporting standards, compliance requirements andrequires that companies maintain minimum share prices and be fully reporting,provides investors with increased transparency. Typically, uplisting to ahigher tier results in greater awareness and liquidity for the issuer.
Cannabis Strategic Ventures latest sharerestructuring expands on an August 2018 undertaking where the Company canceled75.6 million shares, including 20 million from Yu. Both share cancellations aimto increase value for investors and to qualify the company for OTCQB uplisting.
“2018 has been a tremendous year for thecannabis industry, marijuanastocks and cannabis investors. Reducing the number of outstanding sharesincreases the value for our shareholders and signals management’s commitment tobuilding an industry-leading organization,” said Simon Yu, CEO, Cannabis Strategic Ventures. “Alongwith increasing shareholder value, moving to a higher tier exchange is apriority for our Company. OTCQB, will help broaden our shareholder base,provide better access to institutional investors and create additional value tocurrent shareholders.”
A report byArcview Market Research, in partnership with BDS Analytics, highlights theburgeoning cannabis industry and predicts that worldwide consumer spending onlegal cannabis is projected to reach $57 billion by 2027, with adult-usecannabis making up the majority of spending at $38.3 billion.
Yu added, “As cannabis-friendly legislation expands nationally andglobally, and as the industry gains new consumers, Cannabis Strategic Ventureswill be positioned to add shareholder value through calculated and impactfulacquisitions.”
About Cannabis Strategic Ventures
CannabisStrategic Ventures is a Los Angeles based firm that incubates, develops andpartners with category leaders within the cannabis sector. The Firm’s NUGSbrand experience provides mentorship and a range of essential services toemerging and existing Cannabis consumer brands. The Company recently completeda name and symbol change from Cascade Energy, Inc. Cannabis Strategic Venturesis publically traded on the U.S. Over the Counter Market with the stock symbolNUGS.
FORWARD-LOOKINGSTATEMENTS: This release contains “forward-looking statements” withinthe meaning of the safe harbor provisions of the U.S. Private SecuritiesLitigation Reform Act of 1995. Forward-looking statements also may be includedin other publicly available documents issued by the Company and in oralstatements made by our officers and representatives from time to time. Theseforward-looking statements are intended to provide management’s currentexpectations or plans for our future operating and financial performance, basedon assumptions currently believed to be valid. They can be identified by theuse of words such as “anticipate,” “intend,””plan,” “goal,” “seek,” “believe,””project,” “estimate,” “expect,””strategy,” “future,” “likely,” “may,””should,” “would,” “could,” “will” andother words of similar meaning in connection with a discussion of future operatingor financial performance. Examples of forward-looking statements include, amongothers, statements relating to future sales, earnings, cash flows, results ofoperations, uses of cash and other measures of financial performance.
Becauseforward-looking statements relate to the future, they are subject to inherentrisks, uncertainties and other factors that may cause the Company’s actualresults and financial condition to differ materially from those expressed orimplied in the forward-looking statements. Such risks, uncertainties and otherfactors include, among others such as, but not limited to economic conditions,changes in the laws or regulations, demand for products and services of thecompany, the effects of competition and other factors that could cause actualresults to differ materially from those projected or represented in theforward-looking statements. Any forward-looking information provided in thisrelease should be considered with these factors in mind. We assume noobligation to update any forward-looking statements contained in this report.
For more information on Cannabis Strategic Ventures, Inc. please contact