LOS ANGELES, Aug. 15, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- Cannabis Strategic Ventures, Inc. (OTC Pink: NUGS) announces the signing of a definitive agreement to acquire the Fitamins CBD brand. Under the terms of the agreement, Fitamins will be distributing their vitamin and hemp derived CBD formulations through their network of 600+ wholesalers catered to the Asian-American market.
“We have selected Fitamins because of its substantial distribution network and because of the import/export and marketing channels that Fitamins already possesses, giving it a distinct advantage once the brand comes online this next quarter,” commented Simon Yu, CEO of Cannabis Strategic. “The Fitamins team includes two principles who have proven track records with developing and selling multi-million dollar brands in the Asian Nutraceuticals market along with significant resources including ownership of multiple “as seen on TV” local and DirecTV channel segments.”
The agreement between the companies calls for Fitamins to initially produce a proprietary CBD product as part of Cannabis Strategic’s brand portfolio, initially targeting the United States’ distribution networks and eventually expanding into other Asian markets that have legalized CBD products.
Cannabidiol better known as CBD, is one of the many compounds specifically found in the Cannabis plant. It is believed that CBD provides therapeutic effects, such as pain and stress relief, and, unlike THC, does not give the user a “high” feeling. According to recent estimates from the Hemp Business Journal, the CBD market is projected to grow to a $2.1 billion market by 2020.
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is based in Los Angeles and is focused on supporting entrepreneurial growth within the fast-growing legal cannabis sector. The Company recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures offers outsourced personnel solutions that are tailor made to match the growth dynamics of cannabis cultivators, manufacturers, dispensaries, and other cannabis marketplace participants. Cannabis Strategic Ventures is publically traded on the U.S. Over the Counter Market with the stock symbol NUGS.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward- looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward- looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
Contact:
Phone:+1-310-359-6860
Email: info@cannabisstrategic.com
Website: http://www.cannabisstrategic.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
SOURCE: Cannabis Strategic Ventures, Inc.