Business
Cannabis Strategic Ventures Announces Record Month with $1.3M in June Cannabis Sales
Cannabis Strategic Ventures Announces Record Month with $1.3M in June Cannabis Sales.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\n LOS ANGELES, July 09, 2020 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures (OTCQB:NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is excited to announce topline performance data for the month of June, which featured over $1.3 million in sales, representing over 40% sequential monthly revenue growth. This performance demonstrates a dramatic acceleration in month-over-month growth. “June set new records for the Company, with a massive acceleration in the pace of growth, which is so far continuing in July,” stated Simon Yu, CEO of Cannabis Strategic Ventures. “We have successfully repositioned ourselves in the ecosystem of the California cannabis marketplace, moving up the ladder and widening our distribution footprint. We will continue to focus on ramping production capacity and steadily driving gains in quality, efficiency, and volume. That has been our focus all year. Besides dramatic expansion in sales volume by weight, we have also been rewarded by the market with steady gains in pricing. That represents the ultimate positive reinforcement.” Helping to drive performance in June, management notes that the Company’s move in April to more than double its production capacity paid off in the form of expanded production last month as harvest size increased sharply. Prior to the expansion in harvest size, the Company had been consistently selling out of its entire inventory on a weekly basis. To enable continued robust sales growth in the second half of the year and in 2021, and as noted in the Company’s release dated June 17, Cannabis Strategic Ventures is in discussions aimed toward obtaining additional square footage up to 300,000 square feet of greenhouse capacity for cannabis cultivation, which would more than double the Company’s current production capacity. 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 sec...