Cannabis Strategic Ventures Inc. (OTC: NUGS) is an emerging leader in the U.S. cannabis marketplace as a publicly traded cannabis cultivator. The company is based in Los
Angeles, with a 6-acre cannabis farm in Northern California called NUGS Farm North. The company’s vision is to acquire and scale assets in the legal cannabis market while achieving efficiencies through economies of scale and vertical integration.
Cannabis Strategic Ventures recently expanded its portfolio by completing the transfer process for cultivation, retail, distribution and manufacturing licenses issued by the City of Los Angeles and the State of California, and it is now working toward taking operational control of each license. The company also recently announced the upcoming grand opening of its cannabis dispensary,
MDRN Tree. Following that launch, Cannabis Strategic Ventures intends to deploy another of its new licenses to establish an indoor cultivation facility with capacity to produce two to three pounds of premium exotic cannabis flower per light per harvest. The facility will have up to 1,200 grow lights and is anticipated to yield 5.75 harvests per year, bringing it to a total production capacity of over 15,000 pounds of cannabis flower annually.
The company owns multiple brands under the Cannabis Strategic Ventures umbrella. The firm’s NUGS brand provides operational and financial strategic partnerships and a range of essential services to emerging and existing cannabis consumer brands.
The NUGS Farm North brand operates as a six-and-a-half-acre cannabis cultivation property located in northern California. The company believes that the key to success in its business is consistent quality and reliable supply to fit growing consumer demand. Cannabis Strategic Ventures addressed these consumer needs by building NUGS Farm North. At NUGS Farm North, the company’s
process is customized, and its product is consistent. Located in the heart of an agricultural mecca for globally distributed produce, NUGS Farm North finds power in its product, not in its size. Decades of agricultural experience and a dedication to consistency ensure quality cannabis.
MDRN Tree is Cannabis Strategic Ventures’ customer-facing dispensary brand. MDRN Tree will open its first Los Angeles location sometime in the fall of 2021. MDRN Tree will be the company’s factory retail store – a direct interface with the end-market community – where Cannabis Strategic Ventures plans on showcasing the cannabis flower produced at its NUGS Farm
North cultivation site. This farm-to-sale model offers the potential to drive simultaneous gains in quality control and profitability.
- Cannabis Strategic Ventures’ 2020 revenue jumped 517% year-over-year to $14.6 million.
- 2020 revenues from cannabis sales were $14.1 million, up 975% compared to fiscal 2019.
- The company’s gross profit spiked 483% year-over-year, reaching $2.78 million in 2020, while gross margins held steady at about 20 percent.
- Cannabis Strategic Ventures will launch its first Los Angeles dispensary in Q4 2021.
- The company will open an indoor cultivation facility with capacity to produce up to 15,000 pounds of premium cannabis flower annually.
420 with CNW - House Approves Cannabis Research Measure, Senate Expected to Follow Suit
Earlier last week, the House passed a bipartisan cannabis research measure that would make it easier to conduct necessary medical research on this plant. The Senate is expected to pass the measure soon, which will make this bill the first standalone
marijuana reform proposal to be advanced to the president’s desk.
The measure, dubbed the Medical Marijuana and Cannabidiol Research Expansion Act, was considered on the U.S. House of Representatives’
floor under the suspension of rules of parliamentary procedure. This procedure is a motion reserved for noncontroversial initiatives that limits debate in the chamber and allows no amendments. For this procedure to be used, no less than two-third support of the House is needed to approve a measure.
The bill, which was sponsored by Rep. Andy Harris and Rep. Earl Blumenauer, was approved by the House in a 325-to-95 vote. Ahead of the vote, some bipartisan legislators spoke favorably about the bill, with the results showing that all Democrats
and the majority of the Republicans were in favor of its passage.
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