Cannabis Strategic Signals Intent to Acquire Organic Cannabis Extract Brand
LOS ANGELES, February 6th, 2018 /PRNewswire/ — Cannabis Strategic Ventures, Inc. (OTC Pink: NUGS) today announces it has signed a letter of intent to acquire Pure Applied Sciences and its brand PureOrganix, a line of organic and pure cannabis oils and related accessories. In a short amount of time, PureOrganixs brand showed exciting growth in 2017, capturing a lot of fanfare and praise for their products amongst the cannabis retail environment in Southern California.
Mr. Simon Yu, CEO of Cannabis Strategic commented, The cannabis consumer is increasingly looking for purity in products and this is one of the reasons we are so interested in bringing Pure Applied Sciences into the NUGS fold. The Company thoroughly tests its products and fully conforms to the Current Good Manufacturing Practices (cGMP). They have also created processes to match FDA guidelines for Active Pharmaceuticals Products (API). This is the type of quality product we want within our business portfolio. We are still working out the final details of the transaction, but we passed the LOI stage and look forward to a successful conclusion.
The successful completion of this acquisition will help Cannabis Strategic Ventures launch a new division of consumer brands. 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 publically traded on the U.S. Over the Counter Market with the stock symbol NUGS.
FORWARD-LOOKING STATEMENTS: This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.