- Supply shortfalls bedevil California cannabis
- NUGS on the lookout for grow facilities with existing infrastructure
- Cultivation capability expected to complement retail and distribution divisions
The decision by enterprising California outfit Cannabis Strategic Ventures, Inc. (OTC: NUGS) to enter the cannabis cultivation space could not have come at a better time (http://nnw.fm/6Febu). Supply in California is struggling to satisfy demand, resulting in a shortage of compliant product statewide. Even though the supply bottleneck is not entirely unexpected given the size of California’s market, which is projected to cross the $5 billion mark by 2019, it has been aggravated by new, tighter regulations that, very likely, resulted in the recall and destruction of product already on the market. As a result, additions to supply like those being planned by NUGS will be welcomed by consumers, who have been beset not only by product shortages, but also by limited choice and high prices (http://nnw.fm/S64kN).
Cannabis Strategic Ventures has already embarked on pre-acquisition due diligence for prospective cultivation properties located in states that have legalized cannabis. The company has identified several cannabis grow facilities in California and has begun analyzing these for possible acquisition. It is targeting several locations with areas exceeding 200,000 square feet that have…
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