Cannabis Strategic Ventures, Inc. (NUGS) Does Deal for Clean Cannabis as New Regulations Take Effect

August 8, 2018 11:06:07
  • New regulations mandate cleaner, safer cannabis
  • Cannabis concentrate extraction deal with CGMP-compliant facility
  • Launch of Pure Organix with vape pen cartridges
  • Appointment of CPG-experienced board member

The deal that Cannabis Strategic Ventures, Inc. (OTC: NUGS) recently struck with Sunniva Inc. comes at a crucial time in the California cannabis industry. On July 1, new, stricter regulations came into force that caused quite a kerfuffle; retailers were forced to sell off non-compliant products in what has been labelled a “fire sale” of cannabis. As the industry develops, California state authorities appear to be building a robust regulatory regime, which will put a premium on quality products like those marketed by NUGS. The company plans to introduce a line of branded cannabis extract products under the name ‘Pure Organix’.

Regulation of cannabis in California has had a long history. The state was the first to legalize cannabis for medical purposes after it passed the Compassionate Use Act in 1996, but a lot has happened since then. In June 2017, an attempt to consolidate and…

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