NEW YORK, January 25, 2019 /PRNewswire/ —
FinancialBuzz.com News Commentary
The cannabis industry is growing at a remarkable pace due to its widespread legalization. Although the industry still remains illegal in most parts of the world, many countries are already exploring the cannabis plant and its potential uses. Both the recreational and medical sectors are expected to thrive in the upcoming years. And according to data compiled by Grand View Research, the global legal cannabis market was valued at USD 9.3 Billion in 2016. Furthermore, it is expected to grow at a CAGR of 34.6% throughout the forecast period from 2018 to 2025. Most countries are looking into medical cannabis, however, the U.S. and Canada will still dominate the industry through their vast recreational sales. 3 Sixty Risk Solutions Ltd. , Altria Group, Inc. , The Brink’s Company , KushCo Holdings, Inc. , iAnthus Capital Holdings, Inc.
With the widespread legalization, the industry is introducing new private and public sectors alike. Specifically, many companies are entering the field, such as cultivators, retailers, or distributors. However, with the alarming rate the industry is expanding at, the need for security has emerged. Many companies are now demanding security services like surveillance, guards, or transportation in order to protect their facilities and products. “The legal medical and adult-use cannabis market has grown to an estimated size of USD 7.1 Billion. With this growth comes an array of new opportunities and challenges for cultivation centers and dispensaries. These entities are looking for solutions to ensure they meet regulatory requirements, secure their facilities and produce products of the highest quality,” said Thomas Dillon, Marketing Associate at S2 Security Corporation.
3 Sixty Risk Solutions Ltd. is also listed on the Canadian Securities Exchange under the ticker (CNSX:SAFE.CN). Earlier this week, the Company announced breaking news that, “its wholly-owned subsidiary, 3 Sixty Secure Corp., is supporting the Ontario Cannabis Store (“OCS”), which focuses on providing safe and responsible access to cannabis in Ontario. 3Sixty has entered into a multiyear agreement with OCS to provide secure transport services which contribute to the safe delivery of cannabis products within the OCS distribution network.
‘I am extremely pleased that we were selected by OCS to provide security services and to contribute to safe and responsible access to cannabis in Ontario,’ said Thomas Gerstenecker, CEO and Founder of 3Sixty. ‘We believe that our agreement with OCS highlights the world-class quality of our security services and the impressive pedigree of our customer base. We continue to seek new services to offer to our existing customers and we are looking beyond our borders for geographic expansion opportunities that allow us to export our expertise acrossCanada, the US and internationally as we seek organic growth and consider disciplined M&A opportunities to accelerate growth.’
‘Ontario, with a population of more than 14 million people, is Canada’s largest cannabis market,’ added Thomas Gerstenecker. ‘Estimates by the Federal Government indicate that Ontario’s potential market for cannabis is more than $2 billion which is a tremendous opportunity for 3Sixty and for Canada’s 144 Licensed Producers, of which 76 are in the province of Ontario. 3Sixty has relationships with Canada’s largest LP’s, we continue to grow our customer base, and our agreement with the OCS is expected to contribute to significant revenue growth at 3 Sixty as the Ontario market develops.’
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 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.
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Altria Group, Inc. recently announced that it had entered into an agreement to acquire newly issued shares in Cronos Group Inc., a leading global cannabinoid company, headquartered in Toronto, Canada. The transaction represents a 45% equity stake in Cronos Group, at a price of CAD 16.25 per share, for an aggregate investment by Altria of approximately USD 1.8 Billion. Altria expects its investment to help Cronos Group accelerate its growth strategies and its R&D and intellectual property development. Additionally, Altria will provide expertise to help Cronos Group thrive in the growing global cannabis market. These services may include regulatory affairs, regulatory science, compliance, government affairs and brand management. “Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth,” said Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer. “The proceeds from Altria’s investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumers. Importantly, Altria shares our vision of driving long-term value through innovation, and we look forward to continuing to differentiate Cronos Group in this area.”
The Brink’s Company is the global leader in total cash management, secure route-based logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. The Brink’s Company recently announced that its Brink’s Canada subsidiary has entered into a multi-year agreement with Canopy Growth Corporation to provide secure logistics and cash management services for Canopy Growth’s domestic and international cannabis operations. Based in Smiths Falls, Ontario, Canopy Growth is a global leader in cannabis production, retailing and related services. On October 17, 2018, cannabis became legal in Canada for recreational use. Doug Pertz, Brink’s President and Chief Executive Officer, said: “The rapidly growing cannabis industry requires security solutions for its products as well as its cash, and Brink’s is uniquely positioned to provide these solutions. Our partnership with Canopy Growth, a leading producer and exporter of cannabis, diversifies our customer base and leverages BGS’ global network of secure logistics operations. We look forward to building a strong relationship with Canopy Growth as it grows throughout Canada and continues to enter new international markets.”
KushCo Holdings, Inc. (OTCQB:KSHB) is the parent company to a strategically integrated group of business units that are transformative leaders across several industries. KushCo Holdings, Inc., the parent company of innovative cannabis industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Packaging Solutions, which provide a range of services and products for the regulated cannabis, CBD and other related industries, today announced it has entered into a number of long-term supply arrangements-in-principle with regard to three large, well-known new customers. The Company believes these long-term supply arrangements (with expected terms of one to three years) will not only create lasting partnerships with these new customers, but also are expected to provide the Company with an aggregate value of up to USD 75.0 Million of new revenue over the next three years, while providing more supply chain certainty for all parties involved. KushCo Holdings’ Chief Executive Officer, Nick Kovacevich, added, “The Company continues to go from strength to strength as witnessed by our strong 2019 first quarter performance in which the Company’s revenues were up 186% over the same period last year. As a trusted business partner, KushCo has entered into a number of long-term supply arrangements-in-principle with several new large, well-known customers. We believe these arrangements will provide our customers assurance of supply and allow us the ability to manage our supply chain accordingly in order to meet these requirements.”
iAnthus Capital Holdings, Inc. (OTCQX:ITHUF) owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. iAnthus Capital Holdings, Inc. recently announced that it has opened its first and flagship dispensary in New York on December 30, 2018. The dispensary, located at 202 Flatbush Avenue directly across from Barclays Center and Atlantic Terminal, is the first in Brooklyn, New York’s largest borough, with a population of roughly 2.6 million people. The dispensary will operate under iAnthus’ “Citiva” New York dispensary brand. “The opening of our Brooklyn dispensary is a major milestone for iAnthus and Citiva. With an ideal location and an expert team in place, we expect this dispensary to be a major asset to the community and the Company,” said Hadley Ford, Chief Executive Officer of iAnthus. “We are incredibly proud to be the first to open a dispensary in Brooklyn, which serves as a testament to iAnthus’ track record of innovation and industry firsts.”
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