Cannabis Strategic Ventures (NUGS)

[babysharktrader]

Market liking the BIG NEWS today: Cannabis Strategic Ventures Issues LOI for 300K-Square-Foot Facility with Potential to Double Current Output and Sales
GlobeNewswire GlobeNewswire•June 17, 2020
LOS ANGELES, June 17, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Cannabis Strategic Ventures (NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is excited to announce that the Company has issued a Letter of Intent (“LOI”) to obtain a new 300,000-square-foot greenhouse facility for cannabis cultivation. Negotiations are underway, and further details will be released soon. The new facility would more than double the Company’s cannabis production capacity.

“In this environment, the market is going to take as much as we can produce given our steady evolution in product quality, and we see those conditions extending for quite some time,” stated Simon Yu, CEO of Cannabis Strategic Ventures. “That strongly points to strategic value in expansion. We have seen recent strong improvements in output, pricing and sales volume, and we are aggressively interested in expanding capacity to capitalize on micro and macro factors to drive more value for our shareholders.”

The LOI, which was issued this week, represents an offer to obtain a cannabis cultivation facility with a 300,000-square-foot, ready-to-grow greenhouse in excellent condition. To avoid any unnecessary impact on the negotiation process, few further details will be released at this time.

However, the addition of this amount of cannabis cultivation capacity would more than double the Company’s total output potential. Given current trends, management believes this would also result in an increase in total sales by more than 100%.

Yu continued, “More than doubling our production capacity doesn’t just mean a proportionate jump in sales. It also represents an additional bonus in terms of market positioning, putting us at a volume level that would likely create additional relationship opportunities with major distribution partners.”

Cannabis Strategic Ventures has a growing social media presence. Follow the Company on:
Twitter: @NUGS_stock
Facebook: https://www.facebook.com/NUGSstock/
Instagram: @nugs_farm