Cannabis Strategic Ventures, Inc. (OTC: NUGS) today announces its plan to break ground on a 6-acre canopy cultivation site in Northern California which will be known as The NUGS Farm. Complimentary to this land acquisition, the Company has obtained from the State of California over 20 licenses for cannabis manufacturing, distribution and cultivation.
“Establishing The NUGS Farm and securing these licenses are significant milestones for Cannabis Strategic Ventures. We are proud of what we have accomplished at this stage of the company,” commented Simon Yu, CEO, Cannabis Strategic Ventures. “As the cannabis industry expands, and as we work to make cannabis legal on a federal level, Cannabis Strategic Ventures will be in position to touch on all areas of cannabis production.”
California Governor Gavin Newsom, an active proponent for Proposition 64 which legalized the recreational use of cannabis in 2016, continues to support the California cannabis industry and recently recommended a sharp increase in spending for marijuana regulatory programs for the upcoming fiscal year.
“They say that the way California goes, the direction of the country goes,” added Yu. “We are optimistic that federal regulations will become more cannabis friendly in the near future and are excited for the positive impact it can have on our company.”