NUGS to Take Full Operational Control of Downtown LA Cannabis Dispensary
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.
- Operational control of the first in-house dispensary (MDRN Tree) enhances brand presence.
- Sales recording begins November 2021, potentially boosting revenue.
- Supports the farm-to-sale vertical model, improving distribution and margins.
- None.
Company will begin to record sales from first “MDRN Tree” dispensary location next month
LOS ANGELES, Oct. 26, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Cannabis Strategic Ventures (OTCQB: NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is excited to announce that the Company is set to take 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.
NUGS will begin to record sales from the dispensary on its books beginning in November 2021.
“We continue to build a full farm-to-sale vertical model, and MDRN Tree is a big part of that vision,” noted Simon Yu, CEO of NUGS. “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.”
Management notes that NUGS has been working diligently with its accounting and operations team to ensure a smooth transition as it takes over operational control at the dispensary. The downtown Los Angeles MDRN Tree dispensary will represent the implementation of one of the Company’s recently acquired California cannabis licenses.
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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 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 http://www.CannabisStrategic.com
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
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Website: http://www.CannabisStrategic.com
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