LOS ANGELES, Aug. 29, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures, Inc. (OTC: NUGS) announces a major common share restructuring. A total of 75.6 million shares cancelled, including 20 million from Chief Executive Officer, Simon Yu.
The share cancellations are designed to increase shareholder value for all shareholders and will allow Company managers, consultants, minority shareholders, and other key Cannabis Strategic Ventures stakeholders to increase corporate flexibility relative to future brand-oriented strategic acquisitions and partnerships.
“The share cancellations increase value for all shareholders and signals to minority shareholders on the management team’s interest in building long-term value for all,” commented Mr. Simon Yu, CEO, Cannabis Strategic Ventures.
Yu is cancelling 20 million shares of his personal holdings. Additionally, Cannabis Strategic Ventures consultants and associates are canceling an additional 55.6 million shares. In total, approximately 25% of the total shares are being cancelled via this action.
The Company recently announced major partnerships with Fitamins and Asher House Pet CBD, both premium brands in the multi-million dollar CBD products market. Through the acquisitions, the Company gained access to Fitamins’ network of more than 600 wholesalers that distribute products to the Asian-American market; while The Asher House Pet CBD is gaining national attentional for their cross-country road show promoting Pet Adoption and Pet CBD.
Mr. Yu continued, “The future of Cannabis Strategic Ventures is all about acquiring and partnering with the best brands in the fast-growing cannabis marketplace. The streamlined share structure will continue to make our Company an attractive partner as we work toward signing other similar brands and distribution partnerships.”
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is based in Los Angeles and is focused on supporting entrepreneurial growth within the fast-growing cannabis sector. The Company recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures partners with the best brands in the cannabis sector. Cannabis Strategic Ventures is publically traded on the U.S. Over the Counter Market with the stock symbol NUGS.
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.
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