- MDRN (Modern) Tree is key piece of company’s vision to build a full farm-to-sale vertical model
- NUGS plans to grow MDRN Tree brand, develop model that gives cultivation business wider distribution at potentially higher margins
- The MDRN Tree location is opening in top cannabis market in the world
Cannabis Strategic Ventures (OTC: NUGS) has announced the grand opening of its first Los-Angeles-based, customer-facing MDRN (Modern) Tree cannabis dispensary (https://cnw.fm/qOyRW). The company started recording sales from the dispensary this month. Last month, NUGS took full operational control of the downtown Los Angeles MDRN Tree cannabis product dispensary, the company’s first in-house, end-market, consumer-facing retail sales outlet.
“We continue to build a full farm-to-sale vertical model, and MDRN Tree is a big part of that vision,” said NUGS CEO Simon Yu. “It’s exciting to watch the pieces come together, and we look forward to supplying and growing the MDRN Tree brand, and continuing to develop a model that will give our cultivation business wider distribution at potentially higher margins.”
The MDRN Tree location is opening in the top cannabis market in the world. California’s Attorney General Rob Bonta marked the state’s 25th anniversary of the first-in-the-nation medical marijuana program, noting that the market has emerged as “number one in the world” (https://cnw.fm/EeoOq). Bonta spoke at a recent California NORML conference.
“Each day we continue to make history,” he continued in his message. “California is the world’s fifth-largest economy. We are number one in the nation for many things, like starting new businesses. We are number one in manufacturing, agriculture, entertainment, tourism, technology and college graduates. And we are also number one in the world for legal cannabis. Our state has the largest legal cannabis market in the world.
“Whether it’s medicinal or recreational adult use, a legal and regulated marketplace ensures the industry is successful,” he continued. “And it ensures product is safe and tested, and specifically when it comes to medicinal use. Our progressive policies recognize that this product is not only popular, it is vital for so many patients.”
Cannabis Strategic Ventures also has a wholly owned subsidiary — NUGS Farm North — that is a fully state legal licensed Cannabis cultivator in the state of California. The property has more than six acres of greenhouse. Cannabis Strategic Ventures cultivates and sells cannabis biomass and related cannabis products to the legal cannabis market.
For more information, visit the company’s website at 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
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