CANNABIS STRATEG VNTRE - NUGS STOCK NEWS

Cannabis Strategic Ventures Inc. (OTC: NUGS) is highlighted in an editorial by NetworkNewsWire, discussing the current cannabis market dynamics. Despite a challenging environment with wholesale price pressures, particularly in California, the overall cannabis market remains vibrant. NUGS is strategically diversifying its operations, establishing retail locations and new indoor growing facilities to capture market share during this transition. The company sees opportunities amid industry shake-outs, positioning itself for growth with an integrated approach across the cannabis value chain.

Cannabis Strategic Ventures (NUGS) announces a Memorandum of Understanding to acquire 10% of an indoor cannabis cultivation facility in Sacramento, CA, valued at $15 million for the entire site. The MOU also includes an option to purchase an additional 41%, achieving a controlling stake of 51%. The facility's potential includes 500 grow lights and the ability to produce over 7,000 lbs. of premium cannabis flower annually. CEO Simon Yu emphasized this acquisition as a strategic move to enhance production capacity and strengthen NUGS's position in California's cannabis market.

Cannabis Strategic Ventures (OTCQB: NUGS) announces the operational takeover of its first in-house dispensary, MDRN Tree, located in downtown Los Angeles. Starting November 2021, NUGS will record sales from this retail outlet, marking a significant step in the company's goal of establishing a farm-to-sale vertical model. CEO Simon Yu expressed optimism about expanding the MDRN Tree brand and enhancing distribution and margins for their cultivation business. This dispensary represents a pivotal implementation of one of NUGS' recently acquired cannabis licenses in California.

Cannabis Strategic Ventures (OTC:NUGS) is set to launch its MDRN Tree cannabis dispensary in Los Angeles this fall, marking a key step in its vertical farm-to-sale model. The company will also establish an indoor cultivation facility with the capability of up to 1,200 grow lights, potentially producing over 15,000 lbs. of premium cannabis annually. This follows a successful regulatory approval for the transfer of four cannabis licenses, delayed due to Covid-19. CEO Simon Yu emphasizes the opportunity for enhanced quality control and profitability through this model.

Cannabis Strategic Ventures (OTCQB: NUGS) has successfully completed the transfer of four crucial cannabis licenses from the State of California and the City of Los Angeles. Delayed due to COVID-19, the approval was finally granted on August 9, 2021, following a prior agreement with LW Ventures, Inc. This agreement included an $8 million investment to support NUGS operations. With the licenses now secured, NUGS plans to transition control of related operations in Fall 2021, aiming to enhance its position in the competitive California cannabis market.

Cannabis Strategic Ventures (OTCQB:NUGS) announced its 2020 financial performance, showcasing a 517% increase in consolidated revenue, totaling $14.6 million. Revenue from cannabis sales surged 975% to $14.1 million. Gross profit also rose 483% to $2.78 million, maintaining gross margins at approximately 20%. CEO Simon Yu highlighted the company's successful navigation through the pandemic challenges and emphasized improvements in product quality and distribution relationships. The company aims to continue expanding sales through enhanced product offerings.