Cannabis Strategic Ventures (OTMKTS:NUGS), which recently completed a name and symbol change from Cascade Energy, Inc. (OTCMKTS:CSCE), Cannabis Strategic Ventures offers outsourced personnel solutions of cannabis cultivators, manufacturers, dispensaries, and other cannabis marketplace participants.
The company intends to capitalize to the fullest on California’s recent recreational marijuana legalization, after formerly being based out of Washington State, where legalization occurred a couple of years ago. California’s market is remarkably larger, and the company has announced its intent to ‘dip a toe in the water’, so to speak.
Cannabis Strategic Ventures (OTMKTS:NUGS) recently signed a letter of intent with an approximately two acre cannabis cultivation and processing project in Santa Barbara County, California. The successful implementation of the project will not only expand the investment portfolio of the Company, but will also provide valuable experience for the management team toward building larger scale projects in the future.
Mr. Simon Yu, CEO of Cannabis Strategic commented, “The opening of the California market is important to our Company and its investors and we plan to be a part of this growth dynamic. We believe the Santa Barbara project could ultimately turn into both a cultivation and extraction facility. Over the past few months we have been recruiting strategic partners with expertise in both areas to prepare for this growth. We are now moving into the due diligence phase of this project and have begun talks with other projects in California as well”.
With the opening of the California recreational market earlier this week, Cannabis Strategic believes expansion out of its first market, Washington State, into California presents significant opportunities for the Company. The Company plans to pursue investment opportunities in not only outsourced employment, human resources and Staffing operations, but also in the areas of real estate, cultivation, extraction, packaging and dispensary operations. (Source: PR Newswire)
In other news, NUGS recently engaged cannabis industry veteran, Robert L. Hymers as a financial consultant and advisor to bring an added level of financial experience that will be invaluable as the Company continues to expand.
Mr. Hymers financial expertise is significant. He is currently the Managing Partner at Pinnacle Tax Services in Los Angeles and is the Chief Financial officer and a Director of Marijuana Company of America Inc. (OTC: MCOA). He also has many additional years of public company and tax and audit experience. Mr. Hymers holds a Master of Science in Taxation and a Bachelors of Science in Accountancy, in addition to an active CPA license.
Simon Yu, CEO of Cannabis Strategic commented, “As we branch out into new geographic and business areas, we will need to continually enhance our capabilities. Roberts expertise in the financial world, and especially his expertise in the cannabis sector, will be a great addition to our team. There are many opportunities in front of Cannabis Strategic and having his expertise on board will improve not only our deal vetting processes, but will also help us across the board relative to all our financial functions.” (Source: PR Newswire)
We are very interested to continue to follow along with the NUGS story, just as we are to stay on top of the exploding cannabis industry as a whole. Even as federal authorities consider how to stem the tide of legalization, we feel even at the highest level of government, there is little lasting damage that can be done to the potential of this up and coming, and indeed, unstoppable sector. Keep it locked on Street Register for updates, and we’ll deliver important developments on NUGS as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in NUGS stock, short or long.