NEW YORK, January 15, 2019 /PRNewswire/ --
The cannabis market has grown rapidly throughout the recent years as legalization has become more prevalent. Primarily, the growing adoption of medical cannabis is heavily influencing the growth of the market. However, the recreational market is also positioned for growth as the U.S. and Canada continue to dominate sales. The cannabis industry still remains in its infancy stage due to regulatory restrictions, but with the recent spur in legalization, the industry is seeing a widespread, global impact. According to data compiled by Ameri Research, the global legal cannabis market was valued at approximately USD 14.3 Billion in 2016 and is expected to grow at a CAGR of 21.1% between 2017 and 2024. Additionally, by 2024, the cannabis market is expected to achieve global sales of USD 63.5 Billion. The industry is witnessing its strong growth due to increasing legalization and decriminalization efforts across North America and Europe. The rising demand for both recreational and medical cannabis is also expected to accelerate the market. 3 Sixty Risk Solutions Ltd. (OTC: PTVYF), MariMed Inc. (OTC: MRMD), MedMen Enterprises Inc. (OTC: MMNFF), Emerald Health Therapeutics, Inc. (OTC: EMHTF), The Supreme Cannabis Company, Inc. (OTC: SPRWF)
With the expansion of the cannabis industry, many businesses are beginning to experience a growing demand. As a result, cultivators, retailers, and dispensaries are now investing in security services. These services, which include monitoring surveillance, intrusion alarms and armored truck transportation, are becomingly popular among large cannabis companies. "As the cannabis industry moves toward the mainstream, it may be time for growers, retail establishments and laboratories to consider formal physical security risk assessments. These assessments provide a way to identify large-scale risks to a company - from criminal threats and supply-chain tampering to consumer confidence and brand protection. They also address in-house issues like employee theft and inefficient practices that lower profits or increase costs. The key is finding ways to make a business safer while also protecting the culture that made it successful in the first place," said Brian Katz Chief Executive Officer of security consultancy, Lighthouse Global Solutions.
3 Sixty Risk Solutions Ltd. (OTC: PTVYF) is also listed on the Canadian Securities Exchange under the ticker (CSE: SAFE). Yesterday, 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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MariMed Inc. (OTCQB: MRMD) is a multi-state cannabis company that develops, owns and operates licensed cannabis facilities and develops and distributes branded cannabis and hemp product lines. The Hemp CBD Era officially begins with the 2018 Farm Bill signed into law today by President Trump, MariMed said recently in a press release. The landmark legislation, which legalizes industrial hemp, opens doors for MariMed, GenCanna Global (GenCanna) and other U.S. businesses to meet soaring demand for Hemp CBD that analysts expect to grow from today's USD 800 Million to USD 22 Billion by 2022. For the past few years, demand for CBD has far outpaced supply, as consumers discovered CBD's efficacy for treating a range of medical conditions, including pediatric epilepsy, some cancers (and painful cancer treatments), acute anxiety, arthritic and chronic pain, high blood pressure, and various skin conditions, including acne. MariMed's recent USD 30 Million investment in GenCanna, one of the nation's largest hemp cultivators and processors, enables GenCanna to implement advanced technology to increase hemp cultivation and production capacity throughout each stage of the supply chain. The investment is expected to produce a significant increase to MariMed's future earnings while ensuring a reliable supply of high quality, genetically superior hemp products for MariMed's newly created hemp division, above and beyond MariMed's core cannabis business. "GenCanna, widely viewed as the gold standard of CBD manufacturing, is now even better with the addition of advanced CO2, high-capacity processing to extract and isolate cannabinoids to 99% purity at true scale," said Robert Fireman, MariMed Chief Executive Officer. "MariMed is deeply committed to pharmaceutical-grade product quality, precision dosing, and purity. By combining GenCanna's high-purity, high quality CBD oils with our proven product development processes and systems, we intend to raise the quality bar for hemp CBD products. We plan to be a major B2B and B2C distributor of branded CBD product - taking superior CBD products to where consumers shop: the supermarket, medical clinics, drug store chains and other retailers in the US and beyond."
MedMen Enterprises Inc. (OTCQX: MMNFF) is a leading cannabis company in the U.S. with assets and operations across the country. MedMen Enterprises Inc. recently announced that Treehouse Real Estate Investment Trust has completed its first round of capital raise at USD 133 Million and will partially use the funds to purchase properties from the Company. The newly formed real estate investment vehicle looks to capitalize on the fast-growing cannabis industry in the U.S. that is projected to grow to USD 75 Billion in gross sales by 2030, according to Wall Street research firm Cowen & Co. Treehouse is a collaboration between MedMen and Stable Road Capital, a Venice, California-based investment firm with successful track records in real estate and cannabis. Treehouse is governed by an independent board. Treehouse has a management contract with MedMen to oversee day-to-day operations until Treehouse goes public, at which point management will be internalized. "This capital raise further proves the U.S. cannabis industry today is more investable than ever," said MedMen Chief Executive Officer and Co-founder Adam Bierman. "MedMen's relationship with Treehouse will allow us to unlock significant value for MedMen shareholders by spinning out our real estate holdings and deploying the proceeds into accretive growth opportunities for the Company."
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) is a Canadian licensed producer of cannabis. Emerald Health Therapeutics, Inc. recently announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, received from Health Canada the fifth amendment to its cultivation license for its 1.1 million sq. ft. greenhouse in Delta, BC. With an added approximately 137,000 sq. ft. (half of Quadrant 3), the total licensed cannabis production area is approximately 687,000 sq. ft. The newly licensed area is expected to be fully planted by the end of this week. "Pure Sunfarms is already one of the largest licensed cannabis production facilities in the industry, and we expect completion of the conversion in Q1," said Dr. Avtar Dhillon, Executive Chairman and President of Emerald. "With deep cannabis and large-scale greenhouse-growing expertise, established operational systems, and multiple cannabis strains being grown, Pure Sunfarms is achieving industry-leading quality and yields in line with our expectations. We expect this facility to be in full production in the first half of 2019, and aim for it to be one of the best cannabis production operations in the industry.
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that as of calendar year-end, 7ACRES has 19 completed flowering rooms and is on track for all 25 flowering rooms to be completed in March 2019. Once completed, 7ACRES will have a greenhouse footprint of approximately 300,000 sq. ft., with the total facility reaching over 440,000 sq. ft. Supreme Cannabis expects 7ACRES to reach its estimated annual output of 50,000 kg by the middle of calendar 2019. "We are thrilled with the progress made at our facility in Kincardine, Ontario and are excited to announce that we are nearing completion for all of our flowering rooms," said John Fowler, President & Founder of Supreme Cannabis. "In our view, 7ACRES sets the international standard for cannabis cultivation and allows us to grow craft-quality cannabis at scale. We believe consumer behavior has validated our thesis that people prefer higher-quality flower and are willing to pay more for it, and as the market expands for derivative products such as vape pens and edibles we expect consumers will prefer products extracted from the highest quality inputs."
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