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Cannabis Strategic Ventures Announces Record-Breaking April Sales Performance
Cannabis Strategic Ventures Announces Record-Breaking April Sales Performance.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\n LOS ANGELES, April 29, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Cannabis Strategic Ventures (OTCQB:NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is pleased to announce that it has seen record total monthly cannabis sales and record sequential monthly cannabis sales growth so far in the month of April, with total gross cannabis sales for April running at an annualized pace of more than $6 million, up more than 400% over average monthly sales seen in calendar Q1. “This data should help to better contextualize our prior announcement detailing our expansion in total cannabis production capacity,” commented Simon Yu, CEO of Cannabis Strategic Ventures. “Demand is through the roof. We don’t see this as a consequence of the stay-at-home policy. This is about improving market positioning in a strong structural growth boom. We are establishing a wider and wider footprint in terms of distribution partners, and the overall market is continuing to experience powerful growth in demand at the end market level.” Management notes that the Company finalizes sales on a midweek basis and has started to consistently run out of inventory each week. However, as announced in its release dated April 23, 2020, the Company has recently expanded total cannabis production capacity at NUGS Farm by 88% to 150%, which means it may be producing approximately twice as much cannabis product over the next 45 to 60 days as it has produced so far this year. This factor, along with a seasonal tailwind in cannabis pricing, carries the potential for further strong growth in gross cannabis sales over the coming period. Cannabis Strategic Ventures has a growing social media presence. Follow us on:Twitter: @NUGS_stockFacebook: https://www.facebook.com/NUGSstock/Instagram: @nugs_farm About Cannabis Strategic VenturesCannabis Strategic Ventures Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The Company is Los Angeles-based and incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The Firm's NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing Cannabis consumer brands. For more information, v...