Business
Cannabis Strategic Ventures Finishes April Strong with Record Breaking Month
Cannabis Strategic Ventures Finishes April Strong with Record Breaking Month.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\n LOS ANGELES, May 05, 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 that the Company finished the month of April with a record final week of sales. The Company reports a sharp increase from its previous week’s new monthly sales record (See release at: http://cnw.fm/4zTzT) to an estimated annualized pace topping $10 million and driving April sales more than 800% higher than the average monthly totals seen in calendar Q1. Simon Yu, CEO of Cannabis Strategic Ventures, noted, “The close of April represents an important signal in terms of business context. We have seen a number of strong signals suggesting a robust acceleration in sales in calendar Q2. But we have clearly been underestimating the extent of that acceleration. Given our move to increase production capacity, we should see an even more impressive close to Q2 and will likely have to further ratchet up our expectations.” The Company recently doubled its production capacity, which will allow it to continue to take on growing distributor relationships and larger orders in the California cannabis market. In addition, as noted in the Company’s release dated April 15 (See release at: http://cnw.fm/Ow6EG), management is also aggressively working toward the launch of the Company’s branded cannabis product line, which has already been placed as a featured product with one of the fastest growing cannabis delivery services in California. Yu continued, “As noted previously, the growth we are seeing is not about the coronavirus pandemic. This is organic growth coming mostly through improving market positioning.” 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 ...