Nice news this am...
Cannabis Strategic Ventures Cancels 75.6 Million Shares, Including 20 Million Shares From CEO
Los Angeles, CA -- August 29, 2018 -- InvestorsHub NewsWire -- Cannabis Strategic Ventures, Inc. (OTC: NUGS) announces a major common share restructuring. A total of 75.6 million shares cancelled, including 20 million from Chief Executive Officer, Simon Yu.
The share cancellations are designed to increase shareholder value for all shareholders and will allow Company managers, consultants, minority shareholders, and other key Cannabis Strategic Ventures stakeholders to increase corporate flexibility relative to future brand-oriented strategic acquisitions and partnerships.
“The share cancellations increase value for all shareholders and signals to minority shareholders on the management team’s interest in building long-term value for all,” commented Mr. Simon Yu, CEO, Cannabis Strategic Ventures.
Yu is cancelling 20 million shares of his personal holdings. Additionally, Cannabis Strategic Ventures consultants and associates are canceling an additional 55.6 million shares. In total, approximately 25% of the total shares are being cancelled via this action.
The Company recently announced major partnerships with, Fitamins and Asher House Pet CBD, both premium brands in the multi-million dollar CBD products market. Through the acquisitions, the Company gained access to Fitamins’ network of more than 600 wholesalers that distribute products to the Asian-American market; while The Asher House Pet CBD is gaining national attentional for their cross-country road show promoting Pet Adoption and Pet CBD.
Mr. Yu continued, “The future of Cannabis Strategic Ventures is all about acquiring and partnering with the best brands in the fast-growing cannabis marketplace. The streamlined share structure will continue to make our Company an attractive partner as we work toward signing other similar brands and distribution partnerships.”
