Cannabis Strategic Ventures Announces Second Best Sales Week ($550K) in Company History

LOS ANGELES, July 02, 2020 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures (OTCQB:NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is very pleased to announce that the Company closed out the month of June with continued sales momentum, posting its second-best week in Company history, with over $550,000 in sales of cannabis products (an annualized pace of better than $28 million).

“It’s no surprise that we keep setting or closing in on new record sales numbers for days, weeks, months,” noted Simon Yu, CEO of Cannabis Strategic Ventures. “It’s hard to imagine that we won’t see this continue in July, August and beyond. This is the product of better production practices, better products, expanded production capacity, and better positioning in our relationships with California distributors. We are very well-positioned for continued growth as we head into an exciting second half of 2020.”

The Company has been seeing consistent growth in orders and pricing standards and sees continued advances in these trends as well as continued favorable conditions in the California cannabis market heading into the heart of the summer months.

In addition, the Company does not anticipate headwinds from the recent surge in COVID-19 cases in California. Management notes the surge in cases in March and April led many observers to forecast demand challenges in the cannabis market, which drove widespread reductions in headcount and production activity by cannabis cultivators. Cannabis Strategic Ventures did not reduce production during this period, which turned out to be a beneficial strategic decision for shareholders as demand strengthened and Californians faced rising prices and cannabis supply shortages in May and June.

The Company looks forward to continued momentum and a strong focus on expansion and growth during the second half of 2020.

Cannabis Strategic Ventures has a growing social media presence. Follow us on:
Twitter: @NUGS_stock
Facebook: https://www.facebook.com/NUGSstock/
Instagram: @nugs_farm

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.