$NUGS put it on your radar! big news today: “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.”
