As Economy Contracts, Cannabis Sales Surge During Lockdown

NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) -- via CannabisNewsAudio – Cannabis Strategic Ventures Inc. (OTCQB: NUGS) announces the availability of a broadcast titled, “COVID Spikes a Tsunami of Cannabis Sales.”

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COVID-19 has devastated most businesses but created a surge in cannabis sales—a trend that’s likely to continue. Demand exploded during the early stages of COVID-19’s spread through North America. According to the Bank of America, there were record sales of cannabis as consumers stockpiled, preparing for a lockdown. While some people bought mountains of toilet paper or tinned food, both medical and recreational cannabis users were making sure they had enough to see them through a crisis.

Sales could have been stymied as states locked down and restricted business to control the spread of COVID-19. But most states classified cannabis as an essential product, allowing sales to continue even as other parts of the economy were shutting down. Together, these factors led to record sales for some cannabis companies, with Cannabis Strategic Ventures (OTCQB: NUGS) (NUGS Profile) celebrating increased sales of cannabis product from its core cultivation facility and adding staff to address the rising demand.

About Cannabis Strategic Ventures
Cannabis Strategic Ventures Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The Company is Los Angeles-based and incubates, develops and partners with category leaders within the cannabis and ancillary sectors. 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.

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