Business
Cannabis Strategic Ventures Submits Application to Uplist to OTCQB® Venture Market
Cannabis Strategic Ventures Submits Application to Uplist to OTCQB® Venture Market.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\nLOS ANGELES, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures, Inc. (OTC: NUGS) today announces that it has submitted its application to uplist to the OTCQB® Venture Market. The uplisting criteria require the Company to file financial and other reports to the Securities & Exchange Commission in a timely manner in addition to undergoing an extensive verification and certification process. The Company believes it meets all of the requirements for a successful uplisting.\n “We are excited to submit our application to the OTCQB Tier, which has more stringent reporting standards and compliance requirements and requires companies to maintain a minimum share prices and to be fully reporting,” states Cannabis Strategic Ventures CEO Simon Yu. “We have many new initiatives planned in 2019 and we are managing our business operations for growth. This uplisting is designed to demonstrate to our investors and to the marketplace that Cannabis Strategic Ventures is well-prepared for the future.” Companies that uplist to higher tiers typically provide investors with increased transparency, which can result in greater awareness and liquidity. For Cannabis Strategic Ventures, uplisting also supports the Company’s broader growth strategy, which includes its recent acquisitions of several hemp-derived cannabidiol (“CBD”) brands in the cannabis and ancillary sectors including The Asher House Wellness, Fitamins and LYXR. The Company is also targeting several hard assets consisting of various growth facilities. Cannabis Strategic Ventures believes cannabis industry growth will continue at a rapid rate, fueled by medical and recreational legalizations as well as the recent passage of the 2018 Farm Bill. A 2018 report by Grandview Research predicts the global industrial hemp market size to reach US$10.6 billion by 2025, an amount propelled by increased demand for high-quality cosmetics, personal care products, protein supplements, and other health food products. About Cannabis Strategic VenturesCannabis Strategic Ventures is a Los Angeles-based firm that incubates, develops and partners with category leaders within the cannabis sector. The Firm’s NUGS brand experience provides mentorship and a range of essential services to emerging and existing cannabis consumer b...