Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, is beginning to deploy its licenses; that process includes the opening of the first Los Angeles location of MDRN (“MDRN”) Tree, the company’s customer-facing dispensary brand. After the opening of its LA location, NUBS anticipates utilizing another of its new licenses to establish an indoor cultivation facility. With up to 1,200 grow lights, the facility is expected to product two to three pounds of premium exotic cannabis flower per light per harvest, with the company projected an average of 5.75 harvests per year. Based on that production, NUGS is estimated the potential for total production capacity of more than 15,000 pounds of premium exotic cannabis flower per year. “After securing key licensing, we are wasting no time in deploying those assets to launch one of California’s top vertical cannabis models,” said Cannabis Strategic Ventures CEO Simon Yu in the press release. “MDRN Tree will be our factory retail store — our direct interface with our end-market community — where we plan on showcasing the cannabis flower produced at our NUGS Farm North cultivation site. This farm-to-sale model offers the potential to drive simultaneous gains in quality control and profitability, and I look forward to providing further updates as we make strides in this direction.”
To view the full press release, visit https://cnw.fm/SMtXv
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is one of the largest publicly traded marijuana cultivators in the United States. The company is based in Los Angeles 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.
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