LOS ANGELES, Feb. 20, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Los Angeles-based Cannabis Strategic Ventures, Inc. (OTC: NUGS) today announced it has secured up to a $3 million investment from TRITON FUNDS subsequent to an upcoming S1 registration statement. TRITON FUNDS is a San Diego-based investment fund focused on creating a greater sense of community through investments in local companies, entrepreneurs and philanthropy. The new partnership is led by TRITON FUNDS Advisor, Mr. Robert Hymers III CPA and alumni of California State University Northridge where TRITON FUNDS was founded.
The new financing will allow Cannabis Strategic Ventures to accelerate its business priorities related to cannabis cultivation operations in California and the expansion of existing portfolio brands such as The Asher House Wellness, Fitamins and LYXR.
"Cannabis Strategic Ventures is proud to partner with TRITON FUNDS, an organization with a mission that is closely aligned with ours, and who sees the potential of the larger cannabis industry," said Simon Yu, CEO, Cannabis Strategic Ventures. "California is instrumental in setting the pace for the larger cannabis industry-both nationally and globally, and we are thrilled to have found a local partner to escalate the projects that we believe will positively impact stakeholder value to create superior, sustainable returns."
TRITON FUNDS was started by three undergraduate students from Southern California aspiring to create an investment vehicle with a millennial touch. The Firm, partners with local limited partners, an advisory board, and academic mentors to create real-world opportunities for college students to invest in growing companies. As an advisor to TRITON FUNDS, Hymers brings extensive cannabis experience as the former Chief Financial Officer of American Cannabis Company, Chief Financial Officer at Marijuana Company of America, and as a member of the California Cannabis Advisory Taxation Taskforce (CATT), a group which aims to assist California state legislature develop and enhance new cannabis tax laws and regulations.
"As the cannabis industry continues to expand into mainstream society, it will naturally evolve to impact sectors that TRITON FUNDS is already investing in," said Sam Yaffa, Co-Founder, TRITON FUNDS. "A partnership with an emerging industry leader like Cannabis Strategic Ventures makes perfect sense."
Dmitriy Slobodskiy, Senior Partner, TRITON FUNDS, added, “Currently, we see the cannabis industry expanding at an exponential rate. With many companies still struggling to show revenue, we are proud of our ability to locate and invest in the cannabis sector. Cannabis Strategic Ventures is the epitome of our investment criteria. We value strong management with a clear vision towards the future, and the management team delivers just that. They’re able to connect with like-minded individuals helps to establish our millennial-touch in this space.”
About TRITON FUNDS
TRITON FUNDS was started by three undergraduate students from Southern California aspiring to create an investment fund with a millennial touch. The journey began on the streets of La Jolla, California, in search of investors willing to back the idea of a student-run fund that creates a greater sense of community through investments in local companies and entrepreneurs, philanthropy, and guidance to fellow college students interested in the finance field. As a result, local limited partners, coupled with the support of our advisory board, helped establish TRITON FUNDS, creating real-world opportunities for college students to invest in growing companies. For more information, visit www.TritonFunds.com
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is a Los Angeles-based firm that incubates, develops and partners with category leaders within the cannabis sector. 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. The company recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures is publicly 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.
Contact:
Arlene Guzman
Phone:+1-310-359-6860
Email: IR@CannabisStrategic.com
Website: http://www.CannabisStrategic.com
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