- Advance of cannabis legalization efforts in Canada and the United States bode well for cannabis industry
- Cannabis Strategic Ventures focused on incubating enterprising new talent and, now, cultivating cannabis product
- Cannabis industry expected to see $32 billion in annual trade within next five years
Canada’s completion of its efforts to legalize cannabis for a full range of uses last month, coinciding with a few U.S. state votes on potential uses of cannabis this month, highlights the advancing popularity of adopting the plant for widespread commercialization, and Cannabis Strategic Ventures, Inc. (OTC: NUGS) is helping to foster serious businesses that want to be a part of this emerging, powerful market.
Despite marijuana’s long cultural association with dopey behavior and decreased intelligence, the cannabis plant has transformed its image in recent years to one of a calming product similar to beer that can be consumed socially, even by progressive and upscale crowds. This is nowhere more apparent than in Canada, for which October marked a line of demarcation as a variety of adult recreational uses of the drug became legal on a national scale (http://ibn.fm/yzrdd).
The United States’ mid-term elections provided the potential for an increasing number of recreational-use states, as well as growth in the somewhat less controversial medicinal and wellness use arena. Nine states and Washington, D.C. currently allow recreational marijuana use despite ongoing federal prohibition, and the vote in Michigan and North Dakota on its acceptance created the potential for legal recreational use among a quarter of the U.S. population (http://ibn.fm/Lbgh2). Meanwhile, two other states’ votes on medicinal uses of marijuana and its non-druggy hemp sibling created the potential for that use case to become legal in more than half of U.S. states.
Cannabis industry incubator Cannabis Strategic Ventures has taken the measure of the plant’s growing potential and is building a worldwide portfolio of companies in the startup and growth stages that can benefit from Cannabis Strategic Ventures’ resources and expertise while allowing investors a place to jump into the emerging market.
In late October, the company announced that it is preparing to add to its product line by entering the cannabis cultivation arena (http://ibn.fm/UNgpm) through acquisitions, beginning in California.
“Currently, the Cannabis Strategic Ventures team is targeting several locations in excess of 200,000+ square feet that have existing cultivation infrastructures in place, which will allow us to move into cultivation very quickly,” company CEO Simon Yu stated in a news release about the plans.
The strategy not only provides Cannabis Strategic Ventures a potential source for its subsidiaries’ products; it also allows the company the flexibility it needs to continue acquiring more brands.
All of this posits the company’s increasing fortunes with investors and business partners as it continues to finalize its application for recognition under the U.S. Securities and Exchange Commission to become a fully reporting participant on a national OTC exchange (http://ibn.fm/D25iE).
According to a joint 2018 executive summary authored by Arcview Market Research and BDS Analytics, the demand for legal cannabis is expected to produce revenues of about $32 billion in less than five years, according to a Cannabis Strategic Ventures news release.
“Growth is on the horizon for the cannabis industry as recreational and medical markets continue to expand, and legalization continues to spread across the country,” Yu stated in a news release. “The Cannabis Strategic Ventures team is confident that moving into cannabis cultivation will allow us to significantly expand our revenue base and provide a strong path for continued financial growth.”
For more information, visit the company’s website at www.CannabisStrategic.com
MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
For more information, visit www.MissionIR.com