NEW YORK, January 16, 2019 /PRNewswire/ --
The cannabis market is growing at a remarkable rate, as the legalization movement sees success. Despite the global expansion, the North American segment continues to dominate the cannabis industry worldwide. However, many countries in Europe are already exploring medical opportunities within the cannabis market. And according to Peter Homberg, Partner and Head of the Life Sciences Practice at Dentons, European nations like Germany, Denmark, Italy, Belgium, Netherlands and many more have already legalized or are in the process of legalizing medical cannabis. Although the medical segment is growing rapidly, the recreational market is still developing, primarily led by U.S. states like California, Nevada, and Colorado. According to data compiled by Genesis Market Insights, the global cannabis market was valued at USD 17.18 Billion in 2017 and is expected to reach USD 58.90 Billion by 2023. Additionally, the market is projected to grow at a CAGR 22.91% throughout the forecast period, from 2018 to 2023. 3 Sixty Risk Solutions Ltd. (OTC: PTVYF), Tilray, Inc. (NASDAQ: TLRY), Innovative Industrial Properties, Inc. (NYSE: IIPR), Charlotte's Web Holdings, Inc. (OTC: CWBHF), CannTrust Holdings Inc. (OTC: CNTTF)
With the growing rate of the cannabis industry, new sub-segment opportunities have developed, as companies try to enter. Due to the grey area of the cannabis market, businesses such as banks are barred from working with cannabis-related companies. Nonetheless, the industry has led to the development of private sectors such as banking, edibles, and e-commerce, but one sector has come into the spotlight: security. Now, cannabis companies such as cultivators, retailers, and dispensaries are demanding security services. These companies are mainly seeking services like security monitoring, alarms, and armored truck transportation. "Security considerations will likely be a component of the application process," says Harrison Jordan, a Toronto-based cannabis lawyer and consultant. "We don't know how specific the requirements will be. In any event, it would be prudent to partner with someone expert in security practices."
3 Sixty Risk Solutions Ltd. (OTC: PTVYF) is also listed on the Canadian Securities Exchange under the ticker (CSE: SAFE). Earlier this week, the Company announced breaking news that, "3 Sixty Secure Corp, a wholly-owned subsidiary of 3Sixty, has entered into a three-year master services agreement to provide security services to Canopy Growth Corporation ("Canopy Growth") (TSX: WEED) (NYSE: CGC) across Canada. As part of the agreement, 3 Sixty Secure Corp. will provide 24/7 guarding services to protect Canopy Growth's Canadian facilities, as well as other security services as required. The agreement will include all existing and future Canopy Growth facilities across Canada. The agreement with Canopy Growth expands services to include all of its national facilities and extends the prior agreement from a one-year term to a three-year term.
'Reaching an agreement that extends and expands security services provided to Canopy Growth marks another important milestone for 3Sixty as we continue to assert ourselves as leaders in cannabis security,' said Thomas Gerstenecker, CEO and Founder of 3Sixty. 'I believe that our selection by Canopy Growth, a world-leading cannabis company, reaffirms the quality of our protective service offerings and supports our position as a leader in security services. Our sales pipeline is robust, and we are engaged with numerous companies seeking leading security solutions tailored to the cannabis industry and within non-core industries that require a full-spectrum of exceptional security services and solutions.'
About 3 Sixty Risk Solutions Ltd. - 3 Sixty Risk Solutions Ltd., operating through its wholly-owned subsidiary, 3 Sixty Secure Corp., is one of Canada's leading security service providers to the cannabis sector, transporting approximately $250 million of product every month. 3Sixty provides cannabis security consulting, guarding and secure transport security services to more than 500 customers and more than 60 licensed cannabis producers, including some of the world's largest, such as licensed producers owned by Canopy Growth Corporation. 3Sixty has a staff of over 250 employees and employs a fleet of over 60 vehicles, which management believes provides a combined security footprint to approximately 30 million square feet of patrolled area.
About Canopy Growth Corporation - Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in 12 countries across five continents. Canopy Growth is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through its wholly owned research arm, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, Canopy Growth is providing resources and investment to new market entrants and building a portfolio of stable investments in the sector. From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates ten licensed cannabis production sites with over 4.3 million square feet of production capacity, including over 500,000 square feet of GMP certified production space. For more information visit http://www.canopygrowth.com."
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Tilray, Inc. (NASDAQ: TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in twelve countries spanning five continents. Recently, Tilray, Inc. and Authentic Brands Group (ABG), an owner of a portfolio of global lifestyle and entertainment brands, announced that they have signed a long-term revenue-sharing agreement to market and distribute a portfolio of consumer cannabis products within ABG's brand portfolio in jurisdictions where regulations permit. The parties will leverage ABG's portfolio of brands to develop, market and distribute consumer cannabis products across the world, as and where legal, with an immediate focus on opportunities, including CBD, in Canada and the U.S. subject to applicable and brand appropriate regulations. "We are thrilled to partner with ABG, a global leader known for expertly managing and marketing an owned portfolio of iconic brands," said Brendan Kennedy, Tilray President and Chief Executive Officer. "As we work to expand Tilray's global presence, this agreement leverages our complementary strengths and will be accretive to our shareholders as we reach new consumers across the entertainment, fashion, beauty, home and health and wellness sectors. We look forward to working with ABG to bring unique and sought-after branded cannabis products to the marketplace."
Innovative Industrial Properties, Inc. (NYSE: IIPR) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. announced last year that it closed on the acquisition of the property located at 10070 Harvest Park in Dimondale, Michigan, which is currently under development and expected to comprise approximately 56,000 sq. ft. upon completion. Concurrent with the closing of the purchase, the Company entered into a long-term, triple-net lease agreement with Green Peak, which intends to utilize the facility for medical cannabis cultivation and processing upon completion of development. The initial term of the lease is 15 years, with two options to extend the term for two additional five-year periods. The lease provides for an initial annualized aggregate base rent of 15% of the sum of the initial purchase price, Additional Purchase Price and TI Allowance, subject to three months of rent deferral at the beginning of the term. The aggregate base rent is subject to 3.5% annual increases during the term of the lease, and Green Peak is also responsible for paying the Company a property management fee equal to 1.5% of the then-existing aggregate base rent. "We are very pleased to enter into this long-term relationship with Green Peak and its strong management team, and to bring our platform to Michigan, a state that we see as presenting a tremendous opportunity," said Paul Smithers, President and Chief Executive Officer of the Company. "With this acquisition, we have acquired nine properties across seven states, continuing our diversification and growth, while remaining focused on executing in line with our rigorous underwriting standards."
Charlotte's Web Holdings, Inc. (OTCQX: CWBHF) is the market leader in the production and distribution of innovative hemp-based cannabidiol ("CBD") wellness products. Charlotte's Web Holdings, Inc. recently reported its 2018 harvested hemp results. The Company reported more than a 10 times growth in harvested hemp compared to its 2017 grow season. The high-quality 100% U.S.-grown hemp will be processed through proprietary extraction methods to create whole plant hemp extract that will be used in Charlotte's Web products for sale in 2019 and 2020. "Charlotte's Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand," said Hess Moallem, President and Chief Executive Officer of Charlotte's Web. "As the category and brand leader, our goal is to increase our market share and with this bountiful harvest we are able to satisfy our customer demands for 2019 and beyond. This incredible harvest ensures we can continue to produce our high-quality human nutrition products without being subject to constantly fluctuating market prices as is common with third-party sourced raw material. This allows us to have better control and predictability over our cost of goods sold and thereby our gross margins. In addition, these harvest levels will allow us to explore opportunities to supply future partners with our proprietary hemp extracts."
CannTrust Holdings Inc. (OTC: CNTTF) is a federally regulated licensed producer of medical and recreational cannabis in Canada. CannTrust Holdings Inc. recently announced that it has applied to list its common shares on the New York Stock Exchange. Listing of the Company's common shares on the NYSE remains subject to the approval of the NYSE and the satisfaction of all applicable listing and regulatory requirements. In connection with the intended listing on the NYSE, the Company has filed a registration statement on Form 40-F with the United States Securities and Exchange Commission. The Registration Statement has not yet been declared effective by the SEC. Upon receipt of all required approvals and completion of the formal listing process, the Company will publicly announce its first trading date on the NYSE. "CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation," said Peter Aceto, Chief Executive Officer of CannTrust. "A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the Company's exposure and expand our business on an international scale."
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