LOS ANGELES, June 13, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Los Angeles-based Cannabis Strategic Ventures Inc. (OTC: NUGS) today announces it is finalizing negotiations for a series of strategic transactions that could reshape the California cannabis marketplace. Under the terms of the agreements, which are being negotiated and are not final, the Company will gain significant indoor, outdoor and greenhouse cannabis cultivation operations; an existing cannabis retail presence; a team of highly experienced cultivators and managers; and a direct cash infusion from a strategic investment group.
The transactions being negotiated are material and will result in a fundamental shift in the Company’s business, market value and ability to scale operations and cannabis assets under its control. In exchange for the acquired assets, the Company would issue a combination of restricted common and preferred shares to the strategic investment group and management team. In return, the strategic investors would make a direct cash investment and contribute significant operational and hard cannabis assets.
“We are in the final stages of negotiations, and once they conclude will be acquiring strong cannabis assets in the state of California,” commented Simon Yu, CEO, Cannabis Strategic Ventures. “Simply put, Cannabis Strategic Ventures would quickly become one of the largest cultivators in the state of California and the United States.”
Under the terms of the series of transactions, Cannabis Strategic Ventures is finalizing the following:
- Full funding for the Northern California-based NUGS Farm North, a 6-acre cultivation operation that is expected to produce multiple crops each year.
- The output of NUGS Farm North could reach an excess of 120,000 pounds per year.
- Planned distribution and manufacturing business operations at the NUGS Farm North location.
- Acquisition of downtown Los Angeles-based indoor cannabis cultivation operation assets focused on the production of premium cannabis.
- Licenses for manufacturing, distribution and retail for existing downtown Los Angeles operations.
- Downtown Los Angeles licensed retail assets with an established clientele base.
- Teams of highly experienced managers with specialties in cultivation, manufacturing and distribution focused on scaling downtown Los Angeles and NUGS Farm North operations.
- A direct capital infusion designed to allow the current and new corporate managers to effectively implement the enhanced business strategy.
Yu added, “While our level of confidence is high that we will successfully complete these negotiations, we still have a few final details to work out. Nevertheless, we believe the scale of this series of deals is significant enough for us to take this opportunity to inform our investors of the possibility of a potential fundamental shift in the overall scale of our operations and a meaningful positive impact on our overall corporate value.”
About Cannabis Strategic Ventures
Cannabis Strategic Ventures, Inc. is one of the largest publicly traded marijuana cultivators in the United States. The Firm is Los Angeles-based 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: There is no assurance the contemplated transactions outlined herein will transpire. 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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