Cannabis Strategic Ventures (OTCQB: NUGS), an emerging
leader in the U.S. and California cannabis marketplaces, today announced the
sale of approximately 900 pounds of cannabis product from its core cultivation
facility, NUGS Farm. According to CannabisBenchmarks.com, the average price of
cannabis flower in the U.S. market was $1,588 per pound as of April 3, with
prices moving higher over recent weeks. “We believe there are two factors
driving cannabis prices higher right now,” Cannabis Strategic Ventures CEO
Simon Yu said in the news release. “First, people are reacting to the
coronavirus epidemic, which is producing anxiety and an instinct to hoard
necessary goods. For many people, that includes cannabis. This is particularly
true for those with medical marijuana prescriptions. Second, we are moving
toward the end of the dry season, so supply is tapering out of the market as
outdoor producers wind down inventories ahead of the new planting season. We
are clearly benefitting from both of these dynamics right now, which should
continue to drive performance over coming months.”
To view the full press release, visit http://ibn.fm/p1rUY
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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