Business
Cannabis Strategic Ventures in Final Negotiations to Significantly Expand Cannabis Cultivation and Retail Operations
Cannabis Strategic Ventures in Final Negotiations to Significantly Expand Cannabis Cultivation and Retail Operations.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\nLOS ANGELES, June 13, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Los Angeles-based Cannabis Strategic Ventures Inc. (OTC: NUGS) today announces it is finalizing negotiations for a series of strategic transactions that could reshape the California cannabis marketplace. Under the terms of the agreements, which are being negotiated and are not final, the Company will gain significant indoor, outdoor and greenhouse cannabis cultivation operations; an existing cannabis retail presence; a team of highly experienced cultivators and managers; and a direct cash infusion from a strategic investment group. \n The transactions being negotiated are material and will result in a fundamental shift in the Company’s business, market value and ability to scale operations and cannabis assets under its control. In exchange for the acquired assets, the Company would issue a combination of restricted common and preferred shares to the strategic investment group and management team. In return, the strategic investors would make a direct cash investment and contribute significant operational and hard cannabis assets. “We are in the final stages of negotiations, and once they conclude will be acquiring strong cannabis assets in the state of California,” commented Simon Yu, CEO, Cannabis Strategic Ventures. “Simply put, Cannabis Strategic Ventures would quickly become one of the largest cultivators in the state of California and the United States.” Under the terms of the series of transactions, Cannabis Strategic Ventures is finalizing the following: Full funding for the Northern California-based NUGS Farm North, a 6-acre cultivation operation that is expected to produce multiple crops each year.The output of NUGS Farm North could reach an excess of 120,000 pounds per year.Planned distribution and manufacturing business operations at the NUGS Farm North location.Acquisition of downtown Los Angeles-based indoor cannabis cultivation operation assets focused on the production of premium cannabis.Licenses for manufacturing, distribution and retail for existing downtown Los Angeles operations.Downtown Los Angeles licensed retail assets with an established clientele base.Teams of highly experienced managers with specialties in cultivation, manufacturing and distribution focused on scaling downtown Los Angeles and NUGS Farm...