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.”
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About Cannabis Strategic Ventures
Cannabis 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 essential services to emerging and existing Cannabis consumer brands.
For more information, visit http://www.CannabisStrategic.com
FORWARD-LOOKING STATEMENTS: This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.