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Cannabis Strategic Ventures Sees Escalating Sales Through Year End Revenues to Exceed $5M in 2020
Cannabis Strategic Ventures Sees Escalating Sales Through Year End Revenues to Exceed $5M in 2020.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\n LOS ANGELES, Dec. 04, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Cannabis Strategic Ventures (OTCQB:NUGS), an emerging leader in the U.S. cannabis marketplace, is pleased to provide shareholders with production and financial performance expectations for year-end through the Company’s 2020 fiscal year based on a quantitative analysis of resources, capacity, and harvest timelines for NUGS FARM, the company’s flagship cannabis cultivation farm. “2019 was transformative for Cannabis Strategic Ventures,” commented Simon Yu, CEO, Cannabis Strategic Ventures. “We are excited for our progress in laying the foundation for our transition into a significantly expanded scale of operational output and hope that our stakeholders are pleased with our forward momentum.” Cannabis Strategic Ventures recently reported fiscal Q2 sales above $700K (for quarter-ended Sept. 30, 2019), representing more than 1,300% growth on a quarterly year-over-year basis. Based on expanded resources and capacity, the Company now projects sales in excess of $1 million through year-end 2019. Furthermore, the Company expects revenues during 2020 will exceed a minimum of $5 million. These projections are derived from a conservative analysis of the Company’s production capacity and the timing of planned harvests. Cannabis Strategic Ventures currently owns and operates 275,000 square feet of premium cannabis cultivation capacity, which is capable of yielding 178,750 square feet of canopy flower space. According to industry standard assumptions, the company expects at least four harvests per year with each square foot generally assumed to yield 30-50 grams of cannabis flower. Based on these industry assumptions, the cultivation capacity has the potential to yield an annual harvest volume of between 21.5 million to 35.8 million grams. With a market rate of $2-$3 per gram of cannabis, fully constructed and optimized facilities, ideal environmental conditions and operating execution, Cannabis Strategic Ventures has an upside potential to drive well in excess of $50 million in total cannabis sales per year. Accordingly, the Company is currently projecting a baseline expectation of a minimum of $5 million in 2020 revenues from cannabis cultivation. Yu added, “Our conservative boots-on-the-ground analysis estimates our can...