PureOrganix™, a brand of high-quality concentrate, organic and pure cannabis oils that conform with Current Good Manufacturing Practices (cGMP), is now available at legal dispensaries throughout California. (photo credit: Cannabis Strategic Ventures, Inc.)
LOS ANGELES, Oct. 18, 2018 (GLOBE NEWSWIRE) — via NetworkWire — Pure Applied Sciences, a wholly own subsidiary of Cannabis Strategic Ventures, Inc. (OTC: NUGS), has announced that “PureOrganix™,” their brand of high-quality concentrate, organic and pure cannabis oils that conform with Current Good Manufacturing Practices (cGMP), is now available in dispensaries in California. Furthermore, PureOrganix™ plans to expand its national and international shelf-presence in states with legal markets and Canada in the next year.
“Having our brand available to consumers is a huge milestone for PureOrganix™; we have spent months refining our formulation, branding and designing our product to appeal to our target demographic. We are excited for PureOrganix™ continued expansion into legal cannabis retail stores and believe this growth highlights the growth of the cannabis industry. Equally important, this confirms our belief that as the cannabis industry expands into the mainstream, consumer demand for high-quality and pure products continues to increase. PureOrganix™ stands for quality and we look forward to increasing our shelf presence in dispensaries throughout the United States and internationally, in Canadian markets,” said Simon Yu, CEO, Cannabis Strategic Ventures. “The PureOrganix™ growth affirms Cannabis Strategic Ventures belief that there is incredible opportunity to create unique cannabis consumer branded products and expand into other sub-sectors of the cannabis marketplace.”
Cannabis Strategic Ventures acquired Pure Applied Sciences and its brand PureOrganix™ in February 2018. In July 2018, Pure Applied Sciences entered a non-exclusive cannabis concentrate extraction services agreement with CP Logistics LLC (“CPL”), a wholly owned U.S. subsidiary of Sunniva Inc. (CSE:SNN) (OTCQX:SNNVF). Under the agreement, CPL performs white label services producing high quality, ultra-purified cannabis extracts out of its Sun-Oil Facility in Cathedral City, California, for Pure Applied Sciences under the PureOrganix™ brand name. Under this model, Pure Applied Sciences exclusively develops brand, marketing and licensing opportunities for distribution to legal retail stores.
A September 2018 market report by Arcview Market Research and BDS Analytics has estimated that Americans will spend $2.9 billion on concentrates this year, 49% more than last year. In 2014, concentrates only accounted for 10% of all cannabis sales, but that number is expected to climb to 27% this year.
“Concentrates are already revolutionizing the way cannabis is being consumed. The PureOrganix™ brand has already captured a strong following and praise for the products and is poised for tremendous growth as their products become more available in cannabis retail environments,” added Yu.
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is a Los Angeles based firm that incubates, develops and partners with category leaders within the cannabis sector. The Firm’s NUGS brand experience provides mentorship and a range of essential services to emerging and existing Cannabis consumer brands. The Company recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures is publicly traded on the U.S. Over the Counter Market with the stock symbol NUGS.
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