LOS ANGELES, April 15, 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 upcoming launch of the Company’s cannabis brand. The Company expects to begin selling branded cannabis products this quarter.
Management anticipates a 125%-150% jump in pricing for sales of branded versus white label cannabis.
“Moving a substantial percentage of our grow capacity into branded product sales will have a significant positive impact on sales growth and ROI,” noted Simon Yu, CEO of Cannabis Strategic Ventures.
The Company is already working closely with distributors to lay a foundation for an immediate market presence. This includes the cultivation of a formal relationship with one of the fastest growing cannabis delivery services in the California market. The Company’s brand will be a featured product with this service upon launch.
The Company has also been in close contact with a number of major dispensaries and anticipates a wide distribution footprint immediately upon brand launch.
“Cannabis products have started to fly off the shelves in recent weeks,” continued Yu. “This is due to stay-at-home, hoarding, increased anxiety, and increased medical marijuana needs. Our white label cannabis business is seeing rising pricing power and a dramatic acceleration in week-over-week sales growth. This is a demand-driven dynamic. And that represents an important opportunity to launch our brand.”
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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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