Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. and California cannabis marketplaces, today announced another milestone at the company’s licensed cultivation operation in northern California, NUGS Farm North. According to the update, the company continues to expand operations and has now installed 768 high-powered grow lights, which will allow for an increase in the number of plants cultivated per year and an increase in yield relative to previously allocated cultivation capacity. “We are extremely excited to reach this milestone for NUGS Farm. It takes a lot of dedication, planning, and adjustments to get to this point. Compliance and permitting is a very complex subject in the cannabis industry,” Cannabis Strategic CEO Simon Yu said in the news release. “The addition of lights allows us to have more harvests per year and to increase the yields of those harvests. This, of course, means we will have more and higher quality products to sell into the marketplace. It is also important to point out that we continue to expand our operations, while so many other operators are curtailing. Revenues for our last reported quarter ending in December showed a sequential increase of 91 percent, while our gross margins grew and our operating expense fell. We continue to hold strong confidence in our business and in the strength of the California marketplace, in which we continue to gain market share.”
To view the full press release, visit http://cnw.fm/gmFo0
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 that 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.
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