Cannabis Strategic Ventures (OTC: NUGS), a Los Angeles, California-based cannabis firm, this morning announced the launch of a six-acre cannabis cultivation site which is anticipated to produce more than 30,000 pounds of cannabis per harvest, with an expectation of four to five harvests per year. Based on its location in Northern California, the site has been named NUGS Farm North and boasts 24 cultivation, manufacturing and distribution licenses issued by the Bureau of Cannabis Control in the State of California. According to the update, the company has planted over 20,000 marijuana clones this week and plans to plant 10,000 more in the coming week. The site is expected to operate at maximum capacity by late summer of this year. “NUGS Farm North is in a prime location. We have assembled a great team to operate the site and to market and distribute its outputs. We have already begun cultivation and believe the marketplace is primed for the type of premium cannabis flower we are cultivating. We look forward to a successful operation at our flagship cultivation site,” Cannabis Strategic Ventures CEO Simon Yu stated in the news release.
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About Cannabis Strategic Ventures Inc.
Cannabis 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 brands. The company recently completed a name and symbol change from Cascade Energy Inc. Cannabis Strategic Ventures is publicly traded on the U.S. Over-the-Counter Market with the stock symbol NUGS. For more information, visit the company’s website at www.CannabisStrategic.com.
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