Cannabis Strategic Ventures, Inc. Signs Binding Letter of Intent with Scopien Technologies Inc.

Following a court-supervised restoration, NUGS plans to combine with Scopien, a sovereign AI platform

LOS ANGELES, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Cannabis Strategic Ventures, Inc. (OTC: NUGS) (“NUGS” or the “Company”) today announced that it signed a binding letter of intent (the “LOI”) with Scopien Technologies Inc. (“Scopien”), an Ontario corporation. Under the LOI, Scopien would acquire voting control of NUGS through the transfer of the Company’s Series B Super Voting Preferred Stock and contribute its operating business to the Company. The parties intend to complete the change of control by November 30, 2026.

Termination of Adport Letter of Intent

The Company also announced that it has terminated the non-binding letter of intent with Adport Inc. announced on September 10, 2026, under which the Company had proposed to acquire substantially all of Adport’s intellectual property and operating assets. No definitive agreements were entered into with Adport.

About the Scopien Platform

Scopien connects a company’s systems, including CRM, ERP, HR, payroll and helpdesk, into one operating platform and puts AI agents to work across it. Each customer runs its own instance in Scopien’s cloud, its own cloud or on-premises, so data stays inside its walls. Scopien serves mid-market companies, enterprises and government, and plans to expand its sales and partner channels, product modules and engineering program.

What Comes Next

When the change of control closes, Scopien would appoint NUGS’s officers and directors. The Company intends to change its name and trading symbol to reflect the Scopien business, subject to FINRA processing, and to complete PCAOB audits and file a registration statement with the SEC within six months following the change of control, with the goal of becoming a fully reporting company and pursuing a Nasdaq or NYSE listing.

“We rebuilt this company through the courts so shareholders would have something real to build on,” said Richard C. Hawkins, Chief Executive Officer of NUGS. “Scopien is the kind of company we hoped to find.”

“Every business should work as one,” said Zameer Mulla, Chief Executive Officer of Scopien. “Being a public company holds us to the standard of transparency our customers expect. Our first priority is completing the audit and the registration statement.”

Court Custodianship

In July 2025, the Eighth Judicial District Court of Nevada, Clark County, appointed a custodian for the Company, which at the time had no operations and carried more than $14.6 million in legacy liabilities. The custodian reinstated the Company, ran a court-supervised creditor-notice process and, in December 2025, obtained an order barring unasserted claims. In April 2026, the Court ratified the custodian’s actions and returned control to the board. Total reported liabilities were approximately $491,000 at September 30, 2026, and all legacy Series C Preferred Stock has been cancelled.

About Scopien Technologies Inc.

Scopien Technologies Inc., based in Oakville, Ontario, builds sovereign AI that makes every business work as one. For more information, visit www.scopien.com.

About Cannabis Strategic Ventures, Inc.

Cannabis Strategic Ventures, Inc. is a Nevada corporation quoted on OTC Markets under the symbol “NUGS.” Following a court-supervised custodianship completed in April 2026, the Company is pursuing business combinations with operating businesses that have growth potential.

Investor Contact

info@cannabisstrategic.ventures | +1 480-788-7420

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the proposed change of control, the contribution of Scopien’s business, the audit and registration statement, and potential exchange listing. These statements are subject to significant risks and uncertainties, including: that definitive agreements may not be executed or the LOI may be terminated; that the audit and registration statement may not be completed as contemplated; that Scopien’s business may not grow as anticipated; that additional funding may not be available; that securities remain subject to former-shell-company resale restrictions under Rule 144(i); that exchange listing standards may not be met; and that legacy indebtedness and future financing may substantially dilute common stockholders. The super-voting preferred stock would concentrate voting control in Scopien.

The safe harbor provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 is not available to the Company. The Company undertakes no obligation to update any forward-looking statement except as required by law. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Source: Cannabis Strategic Ventures, Inc.