- 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
Cannabis Strategic Ventures (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…
NOTE TO INVESTORS: The latest news and updates relating to NUGS are available in the company’s newsroom at http://cnw.fm/NUGS
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