LOS ANGELES, April 09, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Cannabis Strategic Ventures (OTCQB:NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is excited to announce the sale of approximately 900 pounds of cannabis product from NUGS Farm, the Company’s core cultivation facility.

According to CannabisBenchmarks.com, the average price of cannabis flower in the U.S. market as of April 3 was $1,588 per pound, with prices moving higher over recent weeks.

“We believe there are two factors driving cannabis prices higher right now,” commented Simon Yu, CEO. “First, people are reacting to the coronavirus epidemic, which is producing anxiety and an instinct to hoard necessary goods. For many people, that includes cannabis. This is particularly true for those with medical marijuana prescriptions. Second, we are moving toward the end of the dry season, so supply is tapering out of the market as outdoor producers wind down inventories ahead of the new planting season. We are clearly benefitting from both of these dynamics right now, which should continue to drive performance over coming months.”

Management notes that the Company is currently focused on bringing five key strains to market:

  • Blue Cookies
  • 99 Cookies
  • Gelato
  • Wedding Cake
  • Josh D OG

With hundreds of pounds of inventory on hand, expanding production, rising cannabis prices, and growing demand, NUGS has no plans to cut headcount, unlike other cannabis producers. Instead, management notes that the Company is currently increasing staff to address rising demand.

Yu continued, “It’s remarkable to see other producers actually moving to reduce capacity and headcount at a time when people who legitimately need this product are finding it difficult to locate. From our vantage point, this is a tremendous opportunity to strike while the iron is hot and expand our share of the market by meeting
the booming demand that’s out there right now.”

Cannabis Strategic Ventures has a growing social media presence. Follow us on:
Twitter: @NUGS_stock
Facebook: https://www.facebook.com/NUGSstock/
Instagram: @nugs_farm

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.

For more information, visit http://www.CannabisStrategic.com.

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.


Corporate Contact:
Email: IR@CannabisStrategic.com
Website: http://www.CannabisStrategic.com

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