- Cannabis Strategic Ventures working toward fully reporting status with SEC, OTC exchange
- Company’s portfolio includes professional staffing services, high-quality cannabis oils
- Cannabis industry expected to be responsible for more than 600,000 jobs by 2025
Cannabis Strategic Ventures, Inc. (OTC: NUGS) has pursued its mission to foster legalized cannabis industry value-adds by building a portfolio of vertically integrated companies, and now the company is preparing to uplist on the public markets by refocusing its efforts on bringing its financial reporting up to par.
“While building on our business portfolio is very important to us, bringing the Company up to fully reporting status and up listing to a higher OTC Markets tier is also a top priority,” Cannabis Strategic Ventures CEO Simon Yu stated in a recent news release (http://ibn.fm/fcMYL). “We believe it is important to provide the reliable and transparent information to our shareholders.”
The company announced on July 26 that it had finished the financial audits for fiscal years 2016 and 2017 and is now in the process of filing full financial reports and completing its audit for the fiscal year ended March 31.
As Cannabis Strategic Ventures achieves fully reporting status with the Security and Exchange Commission (SEC), it also hopes to gain greater recognition and a stronger investment base on the higher-tier exchange, which could be beneficial to current stock holders.
The company’s mission is to build a profitable enterprise in the $10 billion cannabis and $900 million hemp industries by building brands that support all facets of business operations in those markets. Within the next seven years, employment in the cannabis industry across the United States is expected to triple from 200,000 people to 630,000, according to New Frontier Data research cited by The Desert Sun (http://ibn.fm/GXYfG). The ancillary industry effect is expected to be much more widespread. In 2017, California — the leading marijuana employer state — reported 38,233 jobs directly tied to the cannabis industry and 18,165 jobs in “related” avenues, according to Arcview Market Research. Over the next three years, the cannabis industry is expected to create nearly one job for every 1,000 people in the country.
That’s encouraging news for Cannabis Strategic Ventures as it works to build on the non-cannabis employment and staffing services provided by the company’s subsidiary, Worldwide Staffing Group, Inc., in order to expand its business operations further into the cannabis staffing arena with an emphasis on the California markets. NUGS’ BudHire subsidiary provides outsourced employment service crafted to meet the needs of cannabis-related businesses by matching qualified candidates to temporary, seasonal and permanent cannabis production staffing opportunities. It also provides human resources consulting and other professional employment services to the cannabis industry.
Pure Applied Sciences Inc., another of the company’s subsidiaries, produces high-quality cannabis oils that conform with good manufacturing practices protocols (cGMP) and the guidelines for active pharmaceutical ingredients (API) in the United States. The oils are marketed under its PureOrganix brand.
For more information, visit the company’s website at www.CannabisStrategic.com
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