LOS ANGELES, February 20, 2018 /PRNewswire/ —
Cannabis Strategic Ventures, Inc. (OTC Pink: NUGS) today announces it has signed an agreement to acquire Pure Applied Sciences and its brand PureOrganix, a line of organic and pure cannabis oils and related accessories. The acquisition, which has been finalized, will include all of Pure Applied Sciences intellectual properties, including its formulations and technologies. Additionally, the principals of Pure Applied, Christian Young and Mylad Piroozabacht, as well as their executive teams, will be joining the combined company.
Mr. Simon Yu, CEO of Cannabis Strategic commented, “Over the past few months we have accomplished much. Today, we announce the completion of our first acquisition. Pure Applied Sciences was extremely attractive to us because of its extensive portfolio of ultra-high quality products. It’s difficult for many small companies to conform with Current Good Manufacturing Practices (cGMP) and to meet FDA guidelines for Active Pharmaceuticals Products (API), but this team has excelled in this area. It’s an important aspect of the product line that will allow for significant expansion. Consumers in the cannabis space demand quality. Pure has built its business around this demand for quality.”
Mr. Yu continued, “We are also very pleased the main principals of Pure are joining the Cannabis Strategic team. Chris has considerable marketing experience that will help us grow across all our product lines and Mylad has the science background to head our development efforts. We welcome them to the NUGS family.”
Chris Young obtained his JD from Southwestern Law and his MBA from the University of Southern California. Chris started his career as an entertainment attorney and moved into the fashion industry as a co-founder of a woman’s fashion brand, which was acquired after two years after operations began. His second endeavor was as a co-founder of Coordinates Collection, a luxury jewelry brand, which was sold in over 500 stores across 10 countries. This firm was acquired by RGNP and Chris moved on to become a strategy and branding consultant developing CPG products for celebrity-led brands. He is currently a startup advisor for local Los Angeles Venture Funds.
Mylad Piroozabacht obtained his Masters and Bachelors of Science degrees in microbiology from North Carolina State. After graduating, Mylad held multiple positions as Chief Scientific Officer and Scientific Director for extraction companies: Rocky Mountain Hemp, Puroil, Axis Laboratories and Livoleo Life Technologies. He is responsible for developing cannabis testing guidelines and extraction procedures in both Oregon, Colorado and California during his tenures as a lead scientist.
The NUGS management team believes there is a huge opportunity in the industry to carve out and control specific industry niches and to create cannabis consumer brands. Cannabis Strategic believes expansion into branded products presents significant opportunities for the Company to expand its business model. According to Tom Adams of BSD Analytics, the Cannabis retail market is expected to hit $11 billion in 2018 and $21 billion in 2021. While the Company continues to build its outsourced employment and staffing division, the Company plans to continue pursuing investment opportunities in the areas of real estate, cultivation, extraction, distribution, packaging, dispensary operations, and branded products.
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is based in Los Angeles and is focused on supporting entrepreneurial growth within the fast-growing legal cannabis sector. The Company, recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures offers outsourced personnel solutions that are tailor-made to match the growth dynamics of cannabis cultivators, manufacturers, dispensaries, and other cannabis marketplace participants. Cannabis Strategic Ventures is publicly traded on the U.S. Over the Counter Market with the stock symbol NUGS.
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