LOS ANGELES, Sept. 27, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures, Inc. (OTC Pink: NUGS) is pleased to announce the completion of a full audit for its fiscal year ending March 31, 2018. This completes the three-year audit required as part of becoming a fully reporting company with the U.S. Securities & Exchange Commission (“SEC”). Cannabis Strategic Ventures will utilize the audit results to file future reports and disclosures with the SEC and move the Company to fully reporting status. The Company will also use the fully reporting status to uplist to a higher OTC Markets tier. 

“Audits tend to be the most time-consuming part of the financial reporting process. With the final audit completed, we can pivot to filing disclosures and reports with the SEC,” commented Simon Yu, CEO of Cannabis Strategic Ventures.

“Despite delays in the process, we remain committed to shareholder transparency and to providing shareholders with timely information about our position in the fast-growing legal cannabis marketplace and all aspects of our financials.  We are pleased to report today we are making significant progress on meeting our commitments to our shareholders and fully expect NUGS to soon be among the ranks for fully reporting companies.”

Cannabis Strategic Ventures initially began as an employment service company for the cannabis industry and recently expanded its strategy to lead brands in several cannabis industry verticals.

The Firm recently expanded its brand portfolio through partnerships with: Asher House LLC for the Asher House Pet CBD product line; Fitamins, a CBD brand with a network of more than 600 wholesalers; True Promise Beauty for a joint venture on a CBD skincare line; production of the patent pending filter for cannabis products, Halo Filter; and entry into cannabis extraction with its Pure Organix brand.

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 mentorship 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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SOURCE: Cannabis Strategic Ventures, Inc.