NUGS Farm Ready To Sell Approximately 900 Pounds Of Cannabis Products

Cannabis Strategic Ventures, an emerging leader in the U.S. cannabis marketplace, is excited to announce the sale of approximately 900 pounds of cannabis product from NUGS Farm, the company’s core cultivation facility.

The average price of cannabis flower in the U.S. market as of April 3 was $1,588 per pound, with prices moving higher over recent weeks, according to CannabisBenchmarks.com

“We believe there are two factors driving cannabis prices higher right now,” said Simon Yu, CEO. “First, people are reacting to the coronavirus epidemic, which is producing anxiety and an instinct to hoard necessary goods. For many people, that includes cannabis. This is particularly true for those with medical marijuana prescriptions. Second, we are moving toward the end of the dry season, so supply is tapering out of the market as outdoor producers wind down inventories ahead of the new planting season. We are clearly benefitting from both of these dynamics right now, which should continue to drive performance over coming months.”

The company is currently focused on bringing five key strains to market:

• Blue Cookies
• 99 Cookies
• Gelato
• Wedding Cake
• Josh D OG

With hundreds of pounds of inventory on hand, expanding production, rising cannabis prices, and growing demand, NUGS has no plans to cut headcount. Instead, the company is currently increasing staff to address rising demand.

“It’s remarkable to see other producers actually moving to reduce capacity and headcount at a time when people who legitimately need this product are finding it difficult to locate,” Yu said. “From our vantage point, this is a tremendous opportunity to strike while the iron is hot and expand our share of the market by meeting the booming demand that’s out there right now.”