LOS ANGELES, December 5, 2017 /PRNewswire/ --
Cannabis Strategic Ventures, Inc. (OTC PINK: NUGS) today announces its formal name and stock symbol change, its new strategic direction, and operational successes in the fast-growing legal cannabis marketplace. Cascade Energy, Inc., under the previous stock symbol CSCE, has received FINRA's name change and symbol approval and has now become Cannabis Strategic Ventures under the new stock symbol NUGS.
One of main focuses of Cannabis Strategic Ventures, under the BudHire brand, is to provide temporary and permanent staffing, payroll services, HR consulting and professional employment organization services to Cannabis businesses.
"We are excited to complete the name and symbol change process with FINRA. We feel the name change is extremely important to us as it marks a new era in the organization. We feel that our new name and stock symbol represents the organization's branding and strategic direction well. While we are just now effecting the name and symbol changes, our operations are already developed. We already have our first customer in the State of Washington and there are several more in the negotiation processes. We are finding there is significant interest in our services within the legal cannabis marketplace as growing companies seek professional services to help with the complicated task of HR and Recruiting," commented, Simon Yu, CEO of Cannabis Strategic Ventures.
The Company's goal is to grow it operations inline with, or in excess of, the growth rates forecasted for the cannabis sector, especially as revenues move increasingly into the legal sector of the marketplace. It is forecasted the legal portion of the cannabis sector in North America is currently producing only approximately 12% of the $56.1 billion in overall cannabis marketplace revenues. In states where legalization has occurred, there has been a rapid shift toward the legal sector, resulting in one of the fast-growing consumer markets ever seen in North America.
Mr. Yu continued, "The overall marketplace is booming and there is certainly a need for our outsourced Human Resource and Staffing services. We have already signed our first contract, which is valued at approximately $400,000 through 2018. Under the terms of this agreement, Cannabis Strategic, via our BudHire brand, will staff employees at a Washington State Tier 3 Cannabis Cultivator and assume the responsibilities of payroll, benefits administration and other HR duties. We think this will be the first of many such deals for our growing company."
Cannabis Strategic's BudHire services are specifically designed to meet the unique needs of cannabis business operators. While the growing cannabis sector is expected to create thousand of new jobs, many industry operators are having problems finding and retaining qualified staff. Additionally, the costs of hiring, managing and compensating employees and the employment risks are often beyond the means of many operators. BudHire services will offload many of these burdens, allowing cannabis entrepreneurs to focus on growing or selling their products and services.
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. We help business owners launch their dreams. 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.
SOURCE Cannabis Strategic Ventures, Inc.