- NUGS to benefit from approximately 40 commercial cannabis licenses throughout California
- Company signed letter of intent to partner with a Santa Barbara County grow operation with cultivation sites that are expected to be a critical component of each brand’s supply chain
Drive 400 miles from San Francisco to Los Angeles anytime soon, and you may be passing through Cannabis Strategic Ventures Inc. (OTC: NUGS) land. The Golden State incubator and brand builder is set to benefit from a large batch of licenses awarded in cannabis-friendly communities along the stretch. Recently, NUGS announced that it had signed a letter of intent to partner with a Santa Barbara County grow operation that holds approximately 40 commercial cannabis licenses from the County of Santa Barbara, the California Bureau of Cannabis Control, the Manufactured Cannabis Safety Branch and the CalCannabis Cultivation (http://nnw.fm/g3YEv). This impending deal signals NUGS’ commitment to its strategy of promoting brands to be category leaders in the recreational and medical cannabis sectors. The NUGS management team believes that the cultivation sites will eventually be a critical component of each brand’s supply chain.
In California, the regulatory regime for cannabis, operative since January 16, 2019, is set out in the Medicinal and Adult-Use Cannabis Regulation and Safety Act (“MAUCRSA”). Traversing its tortuous tracks successfully may be possible for only for the…
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