CANNABIS STRATEGIC VENTURES SUBMITS APPLICATION TO UPLIST TO OTCQB VENTURE MARKET PLACE, INCREASING SHAREHOLDER AND INDUSTRY TRANSPARENCY
Uncategorized on January 8, 2019
LOS ANGELES, January 8, 2018 (GLOBE NEWSWIRE) — via NetworkWire — Cannabis Strategic Ventures, Inc. (OTC: NUGS) today announces that it has submitted its application to uplist to the OTCQB Venture Market Place. The uplisting criteria for the Venture Marketplace requires the Company to file financial and other reports to the Securities & Exchange Commission in a timely manner in addition to undergoing an extensive verification and certification process. The Company believes it meets all of the requirements for the uplisting it will be requesting.
“Cannabis Strategic Ventures is excited to submit our application to the OTCQB Tier, which has more stringent reporting standards, compliance requirements and requires companies maintain minimum share prices and to be fully reporting,” commented Simon Yu, CEO, Cannabis Strategic Ventures. “Companies that uplist to higher tiers typically provides investors with increased transparency, which and can result in greater awareness and liquidity, factors of importance for both the Company and its investors.
The uplisting announcement is aligned with the Company’s growth strategy. During the last year, Cannabis Strategic Ventures acquired several Hemp derived CBD brands in the cannabis and ancillary sectors including The Asher House Wellness, Fitamins, LYXR and more recently the company is targeting several hard assets consisting of various growth facilities.
The management team of Cannabis Strategic believes industry growth will continue at a rapid rate fueled not only by medical and recreational legalizations, but also due to the recent interest in hemp cultivation that comes as a result of the recent passage of the 2018 Farm Bill. A 2018 report by Grandview Research predicts the global industrial hemp market size to reach 10.6 billion USD by 2025, an amount that is propelled by an increased demand for high-quality cosmetics, personal care products, protein supplements, and other health food products.
“2018 was a great year for Cannabis Strategic Ventures,” commented Yu. “We have many new initiatives planned 2019 and we are managing our business operations for growth. The uplisting is designed to demonstrate to our investors and to the marketplace that Cannabis Strategic Ventures is well prepared for the future.”
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.