The Los Angeles based Cannabis Strategic Ventures Inc., NUGS FARM, announced the first round of their product sales from the initial harvest of its solely-owned and administered, premium cultivation facility, stationed in Northern California.
Funding for the harvest was raised via an $8,000,000 investment from LW Ventures.
Simon Yu, the CEO of Cannabis Strategic Ventures, declared:
“The synergy between Cannabis Strategic Ventures and LW Ventures and our joint development of NUGS Farm North has led to a full realignment of our existing business strategy. In a matter of months, our Company is now positioned to be one of the largest greenhouse mixed-light cannabis cultivation in the state of California. We are also announcing today that we are nearing the completion of the terms and conditions for our material definitive investment agreement with LW Ventures. Once finalized, the LW Ventures investment will include millions of dollars in capital and an injection of significant assets to complement our already growing cannabis portfolio.”
Product sales from the 6+ acre site began in mid-September. The plantation was operating at around one-third of its total potential but is presumed to be fully operational by the end of this year.
The 275,693 square-foot cannabis procedure has already started booking deals for more than 13 of its unique flower strains.
Simon Yu, added:
“It continues to be an exciting time at Cannabis Strategic Ventures and at the NUGS FARM cultivation site. We look forward to experiencing significant growth in operations at NUGS FARM over the next few months. As our operation scales, Cannabis Strategic Ventures will be positioned to keep up with the demand for high-quality legal cannabis products in California.”
With handsome financial support and cannabis expertise, their operation quickly positioned Cannabis Strategic Ventures as one of the most comprehensive greenhouse-based mixed lighting (natural sunlight and high-tech mixed-light greenhouse) cultivators in California.
Following the primary harvest, they expect constant weekly harvests throughout October with the plantation of new winter crops tailing at its foot. While Cannabis
Strategic Ventures has not yet disclosed any formal details about the quantity of the current and subsequent harvests; they expect the measure of the harvests to be of thousands of pounds.