LOS ANGELES, May 01, 2019 (GLOBE NEWSWIRE) -- via
NetworkWire -- Los Angeles-based Cannabis Strategic Ventures Inc.
(NUGS) today announces its expansion into
the cannabidiol (CBD) retail space through ‘FLORAH,’ the newest
addition to the Company’s operational and investment portfolio.
FLORAH is a concept boutique that educates consumers of the
benefits of CBD while a curating a best of selection of CBD
lifestyle, wellness, beauty and pet products. The company’s
flagship location is on Melrose Ave in West Hollywood.
“Growth of the CBD retail sector is accelerating and we expect to show leadership in the space,†said Simon Yu, CEO, Cannabis Strategic Ventures. “Now that we have secured financing and a retail location, we will diligently work to procure the best CBD products available and prepare for our full brand roll-out and summer grand opening.â€
The retail market for CBD products is expected to reach $16 billion by 2015, a significant increase from an estimated $2 billion last year, according to leading cannabis investment bank Cowen Inc. Leading categories of this growth are nutraceuticals, tinctures, pain relieving creams and beauty treatments. Perhaps most compelling is that nearly 7% of the 2,500 individuals polled in Cowen’s research indicated they had already purchased products containing CBD; an even larger percentage expect to purchase products in this class.
Amid this market growth, entering the CBD retail sector will be a strong addition to Cannabis Strategic Ventures’ portfolio, which includes Asher House Wellness Pet CBD products; Fitamins, a proprietary health and wellness formula containing 25 mg of hemp-derived THC-free CBD; LYXR, a line of luxury skincare products derived from hemp CBD and other dynamic ingredients; PureOrganix, a line of high-quality organic cannabis concentrates; and Bud Hire, a staffing firm that allows cannabis entrepreneurs to outsource administrative and staffing functions.
“While major CBD retailers have already announced
plans to carry some of the products we currently do or intend to
market, we believe CBD-centric retailers that provide educational
component around CBD products will do exceptionally well. We plan
to announce our full strategy to compete in this arena in the near
future,†added Yu.
The Company also recently announced NUGS
Farm North, its major cannabis cultivation operations on six acres
in Northern California.
About Cannabis Strategic
Ventures
Cannabis Strategic Ventures is a Los Angeles-based firm 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.
Contact:
Arlene Guzman
Phone:+1-310-359-6860
Email: [email protected]
Website: http://www.CannabisStrategic.com
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