Cannabis Strategic Ventures (OTCQB: NUGS), an emerging
leader in the U.S. and California cannabis marketplaces, today announced
another milestone at the company’s licensed cultivation operation in northern
California, NUGS Farm North. According to the update, the company continues to
expand operations and has now installed 768 high-powered grow lights, which
will allow for an increase in the number of plants cultivated per year and an
increase in yield relative to previously allocated cultivation capacity. “We
are extremely excited to reach this milestone for NUGS Farm. It takes a lot of
dedication, planning, and adjustments to get to this point. Compliance
and permitting is a very complex subject in the cannabis industry,” Cannabis
Strategic CEO Simon Yu said in the news release. “The addition of lights allows
us to have more harvests per year and to increase the yields of those harvests.
This, of course, means we will have more and higher quality products to sell
into the marketplace. It is also important to point out that we continue to
expand our operations, while so many other operators are curtailing. Revenues
for our last reported quarter ending in December showed a sequential increase
of 91 percent, while our gross margins grew and our operating expense
fell. We continue to hold strong confidence in our business and in the
strength of the California marketplace, in which we continue to gain market
share.”
To view the full press release, visit http://ibn.fm/p6eti
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 that 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 www.CannabisStrategic.com.
NOTE TO INVESTORS: The latest news and updates
relating to NUGS are available in the company’s newsroom at http://ibn.fm/NUGS
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