- Company’s expanding portfolio includes new cultivation ventures with Southern California partnership and six-acre Northern California NUGS Farm
- Cannabis industry revenues expected to reach $80 billion in a decade as a result of current elevated interest among adults
- Cannabis Strategic Ventures has filed application to uplist to the OTCQB Venture Market as part of its 2019 growth strategy
Los Angeles-based Cannabis Strategic Ventures Inc. (OTC: NUGS) is preparing to launch a canopy cultivation site in Northern California to sustain its brand and build options for its subsidiaries as it seeks to trade on the OTCQB Venture Market.
The company began the new year with an application for uplisting to the Venture Market and followed that with the announcement that it will partner with a Santa Barbara County cultivation operation that holds about 40 commercial cannabis licenses in Southern California. On January 30, Cannabis Strategic Ventures revealed that it will add the six-acre Northern California site after having obtained over 20 licenses for cannabis manufacturing, distribution and cultivation (http://cnw.fm/2Rnyn).
“Establishing The NUGS Farm and securing these licenses are significant milestones for Cannabis Strategic Ventures. We are proud of what we have accomplished at this stage of the company,” CEO Simon Yu stated in a news release. “As the cannabis industry expands, and as we work to make cannabis legal on a federal level, Cannabis Strategic Ventures will be in position to touch on all areas of cannabis production.”
Cannabis Strategic Ventures first announced in October that it would begin acquiring properties to augment its operations with cultivation facilities (http://cnw.fm/ZmJ4e), adding that the new focus for the company would allow it to significantly expand its revenue base and establish a strong path for continued financial growth.
Cowen market analyst Vivien Azer increased her forecast for the U.S. cannabis market last month, predicting that sales could reach $80 billion by 2030 if the drug receives fully legal status at the federal level.
“Our increased confidence reflects the bigger than expected increases that we continue to see for reported cannabis incidence among adults,” Azer wrote in a note (http://cnw.fm/5vOgj).
Cannabis Strategic Ventures has made its name by outsourcing personnel solutions that are tailor-made for cannabis cultivators, manufacturers and dispensaries while also seeking investment opportunities in the areas of real estate, cultivation, extraction, distribution, packaging, dispensary operations and branded products within the cannabis space, developing a selective portfolio that matches its vision.
One of its subsidiaries, Pure Applied Sciences Inc., has developed the brand “PureOrganix” for the high quality concentrate, organic and pure cannabis oils space. The brand conforms to current Good Manufacturing Practices (“cGMP”) and meets FDA guidelines for Active Pharmaceuticals Ingredients (“API”), according to the company. The company’s portfolio also features a collection of niche brands like Halo Filters, The Asher House Wellness, Fitamins and LYXR.
The company’s investment strategy welcomes startups, as well as growth stage businesses, with Cannabis Strategic Ventures providing the capital, know-how and networking opportunities for the brands’ success.
“We have many new initiatives planned in 2019 and we are managing our business operations for growth,” Yu stated after announcing the OTCQB application.
For more information, visit the company’s website at www.CannabisStrategic.com
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