NEW YORK, Feb. 15, 2019 /CNW/ -- The demand for security in the cannabis sector has increased substantially as more businesses are becoming operational and as a result, companies involved in fields such as cultivation, retail, and distribution are seeking security services. Primarily, security service companies dabbling in the cannabis industry offer services such as armored transportation, surveillance, alarms, sensors, and on-site guards. According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023. Furthermore, the market is forecast to accelerate at a healthy CAGR of 37% throughout the forecast period from 2019 to 2024. 3 Sixty Risk Solutions Ltd. (OTC: PTVYF) (CSE: SAFE), Beleave Inc. (OTC: BLEVF) (CSE: BE), KushCo Holdings, Inc. (OTC: KSHB), Emerald Health Therapeutics, Inc. (OTC: EMHTF) (TSX-V:EMH), AXIM Biotechnologies, Inc. (OTC: AXIM)
As more states and countries begin to legalize cannabis, more businesses are being granted licenses to operate. Similar to many other industries, they require outside resources such as advisory, finance, law, and security. However, due to federal regulatory laws, certain public sectors such as banks are barred from working with cannabis-related companies. As a result, these mandated regulatory laws have caused the emergence of specific public and private sectors within the cannabis industry itself. "Because most major banks are regulated at a federal level, and cannabis is still prohibited federally, businesses that operate in states where cannabis is legal are still unable to put their money in banks or operate business banking accounts. Why does this matter? Well, this creates a need to move large amounts of cash safely, therefore bringing in the need for armored vehicles. Beyond cash, cannabis businesses need a secure way to move valuable products and inventory, and we're talking very valuable products," Chris Laurenzo wrote in a post on The DMS Group.
3 Sixty Risk Solutions Ltd. (OTC:PTVYF) (CSE:SAFE) is also listed on the Canadian Securities Exchange under the ticker (CSE: SAFE). Yesterday, 3 Sixty Risk Solutions Ltd. announced that the Company, "which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., is providing secure transport services to Beleave Inc. ("Beleave") (CSE: BE) for its medical and non-medical cannabis products. Headquartered in Oakville, Ontario, Beleave cultivates high-quality cannabis flower and oil, for the medical and recreational markets where it can be found under the Seven Oaks brand. The company has developed a network of medical cannabis clinics in Ontario and Quebec and has been awarded a retail network in Saskatchewan and has been pre-qualified for retail in Manitoba. Additionally, through its international investments, Beleave has access to the Latin American and European markets.
'We are extremely pleased to be providing secure transport services to Beleave,' said Thomas Gerstenecker, CEO and Founder of 3 Sixty. 'Beleave is vertically integrated in the medical and recreational cannabis markets within Canada with significant growth plans. It is available in 100% of Canada's medical cannabis markets and over 55% of the recreational market with plans to roll out recreational cannabis distribution to 99.57% of Canadians before the close of 2020. We are excited to partner with a progressive company like Beleave that has a vision for meeting the needs of Canadians but also has an eye on international expansion which aligns with our own strategic growth plans.'
'We continue to grow our customer base, which includes top-tier LP's, distributors and retailers across Canada, by providing world-class security services to our top-tier customer base," added Thomas Gerstenecker. "We intend to remain a leader in cannabis-focused security by meeting and exceeding our customer's stringent demands within the highly regulated cannabis industry. We will continue to seek new services to offer to our existing customers as well as looking beyond our borders for geographic expansion opportunities that allow us to export our expertise across Canada, the US and internationally through organic means and by executing on disciplined M&A.'
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. 3 Sixty 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. 3 Sixty has a staff of over 275 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 Beleave Inc: Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that cultivates high-quality cannabis flower, oil and extracts. Fully-licenced to cultivate and sell medical and recreational cannabis and cannabis oil, Beleave is leading the way through research partnerships with universities to bridge the gap between science and tradition and to develop pharma-grade extracts and derivatives. Beleave has developed new product lines, including cannabis- infused powder and sugar products for 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave has also developed a network of medical cannabis clinics in Ontario and Quebec under the Medi- Green banner. Through its majority ownership of Procannmed S.A.S., Beleave is fully licensed to cultivate, produce, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market. In a strategic initiative to penetrate the European medical market, the Company has partnered with Canymed GmbH to supply the German market with medical cannabis."
Beleave Inc. (OTCQX: BLEVF) is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that cultivates high-quality cannabis flower, oil and extracts. Beleave Inc. (CSE: BE) (OTCQX: BLEVF) recently announced that its wholly-owned subsidiary Beleave Kannabis Corp. has been authorized by Health Canada to sell cannabis oil products effective January 11, 2019. After reviewing the application and supporting documentation, Health Canada granted an amended licence with modified conditions allowing for the sale of cannabis oil under the Cannabis Regulations. "This license is pivotal to us meeting our goals in 2019, while driving product innovation and augmenting our research and development initiatives," said Roger Ferreira, Ph.D., Beleaveʼs Chief Science Officer. "Oils will continue to make up a larger part of the cannabis market, especially as we ramp up for the regulatory changes coming in 2019. Receiving our sales authorization allows us to provide a wider array of products while providing Beleave with higher margins than dried flower."
KushCo Holdings, Inc. (OTCQB: KSHB) is the parent company to a diverse group of business units that are transformative leaders across several industries. KushCo Holdings, Inc. recently announced it has formed a new Advisory Board to provide strategic advice and expertise to help accelerate growth, manage risk and enhance operational performance. Its first three appointments are Matthew Morgan, an entrepreneur and business consultant with leadership experience in the cannabis and other CPG industries, Eric Smith, an industry veteran in the Liquefied Petroleum Gas industry, and Ali Jahangiri, a digital publishing pioneer who has established and grown several businesses. The Advisory Board will have experts and influencers from various fields with diverse skills and networks related to the markets in which KushCo operates, and will aid in advancing KushCo's strategy to become a leading provider of a diverse range of products and services across several industry verticals, both in the cannabis industry and beyond. "As we continue to expand the business, forming a well-rounded Advisory Board will serve as an additional resource to guide our rapid growth. We plan to add more experts to the Advisory Board, across a range of relevant industries over time, to provide diverse and complementary insights to the different areas of our business we service today, as well as how we will evolve in the future," said Nick Kovacevich, Chief Executive Officer of KushCo. "Mr. Morgan, Mr. Smith and Mr. Jahangiri each bring a wealth of skills and experience to KushCo that will assist in positioning the Company for sustained, accelerated growth, both within the expanding cannabis market as well as the new markets we are targeting. Together, they provide a diversified set of skills, supported by strong networks, that will help us navigate the challenges we face as a rapidly growing public company and help better position us to achieve our lofty goals. I look forward to their close involvement in the next phase of the Company's evolution."
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) (TSX.V: EMH) 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 Corp., has entered into a credit agreement with Bank of Montreal ("BMO") as agent and lead lender and Farm Credit Canada ("FCC") as lender in respect of a CAD 20 Million secured non-revolving term loan. Pure Sunfarms intends to use the funds available under the Credit Facility to finance the final costs of converting its 1.1 million sq. ft. greenhouse for cannabis production, the vast majority of which was completed in January of this year. The funds available under the Credit Facility may also be used for general corporate purposes. "As Pure Sunfarms approaches operational positive cash flow, completion of a non-dilutive financing with these financial institutions is an excellent accomplishment," said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. "We look forward to Pure Sunfarms' rapid quarterly growth through this year as it comes fully onstream."
AXIM Biotechnologies, Inc. (OTCQB: AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical products. AXIM Biotechnologies, Inc. recently announced that the company has received a significant initial purchase order ("PO") from Kannaway®, the first hemp lifestyle network to offer cannabidiol ("CBD") hemp botanical products, for its nutraceutical chewing gum product. The purchase order is for 7,500 boxes containing 225,000 pieces of the Company's cannabinoid-based controlled-release gum nutraceutical product, that Kannaway® plans to sell as a white label through its direct sales force. Additionally, Kannaway® has indicated that this is merely the first PO and that based on the success of the launch of the new gum product under their brand they would be likely to continue ordering the product for their network. "We are excited to work with such a large and well respected direct-selling company such as Kannaway® and to bring our nutraceutical chewing gum product to their worldwide audience," AXIM Chief Executive OfficerJohn W. Huemoeller said. "This is our largest initial order from a singular customer to date and it presents a whole new revenue opportunity for the nutraceutical division of AXIM. Our flagship nutraceutical chewing gum product utilizes AXIM's patented chewing gum delivery system for cannabinoids that creates a high-quality and user-friendly experience that we are confident Kannaway® consumers will enjoy and be able to distribute through their networks successfully."
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