CANNABIS STRATEGIC VENTURES CEO CANCELS 60 MILLION SHARES TO INCREASE SHAREHOLDER VALUE AND TO UPLIST TO OTCQB
Uncategorized on December 12, 2018
LOS ANGELES, Dec. 12, 2018 (GLOBE NEWSWIRE) – Los Angeles, CA – Cannabis Strategic Ventures, Inc. (OTC:NUGS), today announced a major common share restructuring led by Chief Executive Officer, Simon Yu, who will cancel 60 million shares as part of the Company’s efforts to increase shareholder value and to uplist on the OTCQB Venture Market Place. The OTCQB Tier, which has more stringent reporting standards, compliance requirements and requires that companies maintain minimum share prices and be fully reporting, provides investors with increased transparency. Typically, uplisting to a higher tier results in greater awareness and liquidity for the issuer.
Cannabis Strategic Ventures latest share restructuring expands on an August 2018 undertaking where the Company canceled 75.6 million shares, including 20 million from Yu. Both share cancellations aim to increase value for investors and to qualify the company for OTCQB uplisting.
“2018 has been a tremendous year for the cannabis industry, marijuana stocks and cannabis investors. Reducing the number of outstanding shares increases the value for our shareholders and signals management’s commitment to building an industry-leading organization,” said Simon Yu, CEO, Cannabis Strategic Ventures. “Along with increasing shareholder value, moving to a higher tier exchange is a priority for our Company. OTCQB, will help broaden our shareholder base, provide better access to institutional investors and create additional value to current shareholders.”
A report by Arcview Market Research, in partnership with BDS Analytics, highlights the burgeoning cannabis industry and predicts that worldwide consumer spending on legal cannabis is projected to reach $57 billion by 2027, with adult-use cannabis making up the majority of spending at $38.3 billion.
Yu added, “As cannabis-friendly legislation expands nationally and globally, and as the industry gains new consumers, Cannabis Strategic Ventures will be positioned to add shareholder value through calculated and impactful acquisitions.”
About Cannabis Strategic Ventures
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 publically traded on the U.S. Over the Counter Market with the stock symbol NUGS.
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.