LOS ANGELES, CA, Aug. 06, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — NUGL Inc. (NUGL) (the “Company”), a technology and multimedia platform for the cannabis industry, is pleased to announce that its various revenue lines are enjoying accelerated growth, particularly the ‘Featured Profiles’ offering.
The Company views Featured Profiles, which launched several weeks ago and is still in Beta, as one of its core revenue lines going forward as it offers businesses in the industry preferred positioning to NUGL’s rapidly expanding community of cannabis enthusiasts and businesses. NUGL’s featured profiles sales run rate in August should exceed sales revenue of all other media outlets with residual growing month-over-month.
Other historic revenue lines are showing expansion as well. NUGL’s magazine holdings had record sales in June, with 20% increase in gross sales. Importantly, the magazines also expanded their distribution in excess of 10%, laying the groundwork for future increase in revenues.
Software signups are also increasing significantly.
“We couldn’t be more excited to see the progress we’ve made and to have all the hard work turn into revenue for NUGL and its shareholders,” stated CJ Melone, CEO, NUGL Inc. “Everything we’ve done to this point has laid the blueprint for scalability and diversification for multiple revenue streams supporting software sales which has always been the core of our business model.
“To see the early interest and traction in Featured Profiles is most gratifying and we will do our level best to communicate to the market our progress on our flagship product,” added Melone.
NUGL is the world’s first cannabis search app built for the people, by the people. Our goal is to build the most user-friendly app experience in the cannabis industry by listening to our users and giving them what they want. NUGL is the only cannabis search app that offers equal and unbiased search results. We don’t sell top-spot listings or fake reviews, so our data stays true. Use NUGL to search for genuine user-rated dispensaries, strains, doctors, lawyers, cannabis service providers, vape shops, hydro stores, brands and more. NUGL’s flexible web app has no geographic limitations and can rapidly connect cannabis companies, related vertical services and users. The NUGL iOS and Android app brings a powerful cannabis search tool within reach of anyone, anytime, anywhere with the ease of a smartphone.
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Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans”, “anticipates,” “expects,” “believes” or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in the company’s business plan and filings with the OTC Markets Group.
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