• Cannabis Strategic Ventures’ 2020 revenue jumped 517% year-over-year to $14.6 million
• 2020 revenues from cannabis sales were $14.1 million, up 975% compared to fiscal 2019
• The company’s gross profit spiked 483% year-over-year, reaching $2.78 million in 2020, while gross margins held steady at about 20 percent
• Cannabis Strategic Ventures will launch its first Los Angeles dispensary in Q4 2021
• The company will open an indoor cultivation facility with capacity to produce up to 15,000 pounds of premium cannabis flower annually

Cannabis Strategic Ventures (OTC: NUGS) is an emerging leader in the U.S. cannabis marketplace as a publicly traded cannabis cultivator. The company is based in Los Angeles, with a 6-acre cannabis farm in Northern California called NUGS Farm North. The company’s vision is to acquire and scale assets in the legal cannabis market while achieving efficiencies through economies of scale and vertical integration.

Cannabis Strategic Ventures recently expanded its portfolio by completing the transfer process for cultivation, retail, distribution and manufacturing licenses issued by the City of Los Angeles and the State of California, and it is now working toward taking operational control of each license. The company also recently announced the upcoming grand opening of its…

Read More>>

NOTE TO INVESTORS: The latest news and updates relating to NUGS are available in the company’s newsroom at http://cnw.fm/NUGS

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.