Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, is taking strategic steps to ensure its position in the growing cannabis market in California. Within the sector, sales of legal adult-use cannabis are expected to reach roughly $7.2 billion by 2024, up from 2.5 billion in 2018, according to Statista (https://cnw.fm/J2aOe). “Cannabis Strategic Ventures is aligning its long-term strategy with that growth in mind, as the company remains focused on shaping the future of the cannabis industry by striving for constant evolution in products, places and people,” reads a recent article. NUGS recently signed a memorandum of understanding (“MOU”) with California-based Devine Solution Inc. with the end goal of increasing its cannabis production capacity. The MOU outlined NUGS’s plans relating to its proposed acquisition of a Devine Solution-owned 15,600-square-foot indoor cannabis cultivation facility that has the potential to produce more than 7,000 pounds of premium cannabis flower per year for NUGS. “This deal represents the potential to sharply increase our premium cannabis production capacity and materially augment our status as an emerging leader in the vertically integrated California cannabis marketplace,” said NUGS CEO Simon Yu.

To view the full article, visit https://cnw.fm/MK6bW

About Cannabis Strategic Ventures Inc.

Cannabis Strategic Ventures 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 www.CannabisStrategic.com.

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 SMS text alerts from CannabisNewsWire, 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.