Cannabis Strategic Ventures (NUGS)

[Occasian]

Alert - NUGS is selling off one of it's most valuable assets (in my opinion)
https://www.otcmarkets.com/otcapi/company/financial-report/330102/content

SUPPLEMENTAL INFORMATION AND DISCLOSURE STATEMENT
Period Ending April 29, 2022
Cannabis Strategic Ventures, Inc.
CUSIP: 13765M109
Trading Symbol: NUGS
On March 31st, 2022, the Board of Directors of the Company entered into a Term Sheet with a private individual (“Buyer”) that discusses the terms of selling the Company’s Downtown Los Angeles cannabis licenses to the Buyer.
In the terms, a $1,000,000 deposit will be used to secure the transaction and an additional $3,000,000 will be due at closing, equating to a total purchase price for the asset at $4,000,000. If the transaction is complete, the Company may plan to use some of the proceeds of the sale for operational expenses, capital expenditures and growth capital.

At the time of this notice, the Definitive Purchase agreement is still being finalized and the transaction has not yet been closed.
By: /s/Pyng Soon
Director
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This indicates they are forsaking the DTLA scene to pay off some of the farm expenses / liabilities. More than likely they are trying to pay off OpEx so they don't lose the farm, given the farm only has one more year of solid operations (I believe they signed the lease back in 2019? have to go back and check) before the lease is up in 2023 (which they would need to re-negotiate)

I hope this company stays afloat, but seems like there are holes being punched in it from current management (and prior management leaving a company as well)

If it survives, NUGS is a fantastic ticker, if not, good riddance, I'd rather invest capital in Elon Musk companies and innovation.