Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CANNABIS STRATEGIC VENTURES

(NUGS)
SummaryQuotesChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Cannabis Strategic Ventures : NUGS Unveils New LA Dispensary Brand and Coming Cultivation Expansion Involving New Licensed Indoor Grow Facility

10/05/2021 | 08:01am EST

LOS ANGELES, Oct. 05, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Cannabis Strategic Ventures (OTC:NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is pleased to update current and prospective shareholders as the Company begins to deploy its newly acquired licenses, including the upcoming grand opening of the Company’s customer-facing cannabis dispensary brand, “MDRN Tree,” which will open its first Los Angeles location sometime this fall.

After the launch of MDRN Tree, the Company plans to deploy another of its new licenses for the establishment of an indoor cultivation facility with the capability of up to 1,200 grow lights, projected to produce 2-3 lbs. of premium exotic cannabis flower per light per harvest across an estimated 5.75 harvests per year, suggesting an upside potential for total production capacity of over 15,000 lbs. of premium exotic cannabis flower per year.

As discussed in its release dated September 23, the Company entered into a material definitive agreement in 2019 with LW Ventures, Inc. (“LW”) involving the assignment of NUGS equity to LW shareholders in exchange for up to $8 million in funding and the transfer of four cannabis licenses issued by the City of Los Angeles and the State of California for the Retail Sale, Cultivation, Distribution, and Manufacturing of cannabis products.

However, due to the Covid-19 pandemic, approval of the transfer of licenses was delayed until recently: On August 9, 2021, following prior approval by the State of California, the Company was notified that the City of Los Angeles approved the change of ownership applications resulting in final regulatory approval to transfer all four licenses to NUGS.

“After securing key licensing, we are wasting no time in deploying those assets to launch one of California’s top vertical cannabis models,” noted Simon Yu, CEO of NUGS. “MDRN Tree will be our factory retail store – our direct interface with our end-market community – where we plan on showcasing the cannabis flower produced at our NUGS Farm North cultivation site. This farm-to-sale model offers the potential to drive simultaneous gains in quality control and profitability, and I look forward to providing further updates as we make strides in this direction.”

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

Public Relations:
EDM Media, LLC
https://edm.media

Wire Service Contact:
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
Editor@InvestorWire.com


Primary Logo

Source: Cannabis Strategic Ventures, Inc.

2021 GlobeNewswire, Inc., source Press Releases

All news about CANNABIS STRATEGIC VENTURES
10/27NUGS Announces Fully Executed MOU to Acquire Large Capacity Indoor Cannabis Cultivation..
AQ
10/27Cannabis Strategic Ventures Announces Fully Executed MOU to Acquire Large Capacity Indo..
CI
10/27Cannabis Strategic Ventures signed a Memorandum of Understanding to acquire a 10% stake..
CI
10/26NUGS to Take Full Operational Control of Downtown LA Cannabis Dispensary
AQ
10/05CANNABIS STRATEGIC VENTURES : NUGS Unveils New LA Dispensary Brand and Coming Cultivation ..
AQ
10/05Cannabis Strategic Ventures announces upcoming grand opening of the customer-facing can..
CI
09/23CANNABIS STRATEGIC VENTURES : Announces Final Regulatory Approval for Prior Acquisition of..
AQ
07/21CANNABIS STRATEGIC VENTURES : Reports Significant 2020 Full-Year Financial Metrics with Ma..
AQ
07/21Cannabis Strategic Ventures Reports Unaudited Earnings Results for the Year Ended Decem..
CI
02/26Cannabis Strategic Ventures Reports Earnings Results for the Second Quarter Ended Septe..
CI
More news
Financials (USD)
Sales 2021 14,6 M - -
Net income 2021 -5,64 M - -
Net Debt 2021 21,3 M - -
P/E ratio 2021 -4,74x
Yield 2021 -
Capitalization 9,85 M 9,85 M -
EV / Sales 2020 15,0x
EV / Sales 2021 3,31x
Nbr of Employees 30
Free-Float 100%
Chart CANNABIS STRATEGIC VENTURES
Duration : Period :
Cannabis Strategic Ventures Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Simon Yu President, CEO, CFO & Secretary
George Wen Chairman
Arlene Guzman Vice President-Operations & Communications
Pyng Soon Independent Directors
Danny Cheung Independent Directors
Sector and Competitors
1st jan.Capi. (M$)
CANNABIS STRATEGIC VENTURES-37.82%10
ROBERT HALF INTERNATIONAL INC.88.72%12 542
RANDSTAD N.V.6.65%11 820
ADECCO GROUP AG-24.71%8 384
PERSOL HOLDINGS CO., LTD.81.09%6 842
MANPOWERGROUP INC.3.70%5 073