LOS ANGELES, Dec. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Cannabis Strategic Ventures, Inc. (OTC: NUGS) announced its pursuit of twenty cannabis licenses from the California Bureau of Cannabis Control that will lead to the development of a substantial cannabis growth operation of approximately 250,000 square feet of turnkey greenhouse space in California. The Company will commence cultivating as soon as licenses are issued.
The targeted cultivation site is located in
central California, an area with a rich agricultural heritage and
well-established distribution infrastructure. The targeted location
is equipped with 250,000 square feet of greenhouse space and mostly
in-place irrigation, storage facilities and other critical
infrastructure components that will allow operations to begin under
the Cannabis Strategic Ventures name immediately after receiving
permitting.
Simon Yu, CEO, Cannabis Strategic commented, “This is a significant
event for our Company and its investors. At approximately one
quarter million square feet, this cultivation operation will have
four or five cultivation cycles each year and each cycle will be
capable of producing tens of thousands of pounds of high-quality
flower.â€
According to industry publication, Marijuana Business
Daily, cannabis cultivators in the central California Valley
are yielding an average of 30 grams per square foot of cultivation
space within the “Mixed-light â€environment for greenhouse with up
to five cultivation cycles possible each year.
Yu added, “Our agents have filed for the licenses and with these
greenhouses already in place we would plan a very rapid initiation
of cultivation on the property. We are in the process of
analyzing several other similar operations to further fuel our
growth prospects.â€
Cannabis Strategic Ventures, while recently primarily focused on
branding activities relating to its Fitamins, Halo Filter and The
Asher House CBD pet-focused product, now plans to expand its
investment and operational activities to include other areas of the
growing cannabis business sector. Planned company expansions
will be in the areas of cultivation, processing of cannabis inputs
and products and cannabis retailing. Cannabis Strategic Ventures
management is actively vetting business opportunities in all such
industry subsectors to maximize value for shareholders.
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
mentorship 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. There can be no assurances the transactions discussed in the
release will be completed. 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