NEW YORK, Feb. 11, 2019 /PRNewswire/ — The influx of businesses entering into the cannabis industry is growing in multitudes. Many are seeing attractive growth opportunities in specific fields like cultivation, distribution, and retail. However, the federal stance on cannabis has hindered many businesses from developing. Regulations have barred businesses, such as banks, from working with cannabis-based companies. The matter prompted the creation of new public and private sectors within the cannabis industry itself. Emerging sectors like e-commerce, technology, finance, and law are among some of the top growing segments, further expanding the broad cannabis marketplace. According to data compiled by Ameri Research, the global legal marijuana market is expected to be valued at USD 63.5 Billion by 2024. The market is being driven by the wave of legalization, increasing usage for medical applications, tax revenues, and increased investments in R&D. 3 Sixty Risk Solutions Ltd. (CSE:SAFE) (OTC: PTVYF), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Aphria Inc. (NYSE:APHA) (TSX:APHA), CannTrust Holdings Inc. (OTC:CNTTF), Organigram Holdings Inc. (OTC:OGRMF)
The U.S. market accounts for the majority of the global cannabis market value. States such as Colorado, California, Massachusetts, and Washington are among the leading revenue drivers for the industry. For instance, Colorado delivered USD 1.1 Billion in sales and taxes in 2016. In order to meet consumer demands, Colorado approved more licenses and allowed for the development of establishments. But the growing number of operating businesses began to concern state officials as well as business owners about security matters. Now, many cultivation sites, dispensaries, and distributors have signed off on security service agreements in order to protect their facilities. Specifically, businesses are seeking security services such as alarms, surveillance, guards, advisors, and transportation. “To state the obvious: Marijuana is valuable. So is everything involved in growing, processing, transporting and selling it,” said John Schroyer of Marijuana Business Daily. “That value, along with plenty of state and local government rules requiring marijuana companies to implement security measures, has given rise to a thriving industry niche focused on helping cannabis businesses protect their assets and employees.”
3 Sixty Risk Solutions Ltd. (OTC:PTVYF) is also listed on the Canadian Securities Exchange under the ticker (CSE:SAFE). Earlier last week the Company announced breaking news that, the Company, “which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., has entered a strategic alliance with the Cannabis Mercantile Exchange (“Cannamerx”), the fully automated international auction platform for wholesale cannabis, cannabis products, and genetics, to recommend certain products and services provided by each company to their respective customer base. There are more than 50 Canadian licensed cannabis companies that have joined Cannamerx, and since June 2018 it has helped facilitate the trade of more than 25 tonnes of cannabis and cannabis products through its automated auction platform as well as supply agreement auction process.
“We view the formation of a strategic alliance with Cannamerx as another opportunity for 3 Sixty to grow our domestic customer base and to gain access to the highly lucrative international market,” said Thomas Gerstenecker, CEO and Founder of 3Sixty. “In a short period, Cannamerx has added more than 50 Canadian cannabis companies to its platform and has taken on a well-regarded and important key role in the Canadian cannabis supply chain. We look forward to providing our world-class offering to all Cannamerx clients. As Cannamerx grows, we will be well positioned to serve its B2B customers that require a leading seed-to-sale security provider to safely transport cannabis products while remaining compliant across multiple jurisdictions.”
“We have been very impressed with the growth and performance of 3 Sixty’s world-class security services, as well as its top-tier customer base which includes some of Canada’s leading LPs,” added Dietwald Claus, CEO of Cannamerx. “We are very proud to work with 3 Sixty to provide secure transport solutions to Cannamerx clients for products traded via the Cannamerx system, as well as promoting 3 Sixty’s other services, from security consulting to site protection. Partnering with the highest quality service providers is yet another way we can add value for the licensed cannabis companies that use our trading platform.”
Both companies emphasize that this strategic alliance does not involve any kind of …