Tuesday, March 19, 2019
Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: EMPOWER (CSE: $EPW.C), CannaOne (CSE: $CNNA.C), Zenabis (TSXV: $ZENA.V), 3 Sixty (CSE: $SAFE.C), Harvest One (TSX-V: $HVT.V) (OTCQX: $HRVOF), NexTech (OTCQB: $NEXCF) (CSE: $NTAR.C), Canopy Growth (TSX: $WEED.TO) (NYSE: $CGC) and Tilray (NASDAQ: $TLRY)
Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: EMPOWER (CSE: $EPW.C), CannaOne (CSE: $CNNA.C), Zenabis (TSXV: $ZENA.V), 3 Sixty (CSE: $SAFE.C), Harvest One (TSX-V: $HVT.V) (OTCQX: $HRVOF), NexTech (OTCQB: $NEXCF) (CSE: $NTAR.C), Canopy Growth (TSX: $WEED.TO) (NYSE: $CGC) and Tilray (NASDAQ: $TLRY)
Delta, Kelowna, BC –March 19, 2019 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s edition of Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/03191EPW-CNNA-ZENA-SAFE-HVT-HRVOF-NEXCF-NTAR-WEED-CGC-TLRY.asp
Today’s podcast overview/transcript:
Good afternoon and welcome to another Investorideas.com “potcast”, looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today we are looking at announcements from EMPOWER CLINICS INC. (CSE: EPW), CannaOne Technologies (CSE: CNNA), Zenabis Global Inc. (TSXV: ZENA), 3 Sixty Risk Solutions Ltd. (CSE: SAFE), Harvest One Cannabis Inc. (TSX-V: HVT) (OTCQX: HRVOF), NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR), Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and Tilray, Inc., (NASDAQ: TLRY).
EMPOWER CLINICS INC., a growth oriented and diversified medical cannabis company, provided an update on recent activities by the technical teams at Empower and Canntop AI Inc., a subsidiary of Datametrex AI Limited to develop a deeper understanding of patient awareness of cannabis-based treatment options and ongoing effectiveness of treatment programs.
The Company has provided select SEO terms and phrases for use in Canntop's artificial intelligence platform, targeting two key company markets, Portland, OR and Phoenix, AZ, to gain actionable insights on how consumer social data is generating interest in CBD-based products, alternative pain management options and the use of cannabis-based therapies.
"Insights derived from AI are beginning to demonstrate how patients in our key markets are talking about or describing their experience and ideas related to cannabis/CBD-based treatments, and even suggesting recommendations about alternative therapies and their effectiveness in treating a wide array of qualifying conditions," stated Steven McAuley, Empower's Chief Executive Officer.
"We believe the outcomes of our AI efforts, if successful, could position the Company as an educational leader and we plan to collaborate with the industry with the ultimate goal of improving patient care," said Mr. McAuley. "Canntop's powerful AI tools are helping us analyze the substantial amounts of data in the Empower database and we expect will facilitate the integration of the additional data we expect to derive from the proposed acquisition of the Sun Valley Clinic group, that has a combined 165,000 patients."
CannaOne Technologies announced that it has entered into a formal agreement with Manna Health Services SA de CV of Mexico City, to undertake the development, launch and operation of an industry leading online CBD product purchase and delivery marketplace for the Country of Mexico. The agreement was signed on March 5, 2019, with a contract term of 36 months and an option to renew for an additional 60 months at the conclusion of the initial period.
CannaOne CEO Solomon Riby-Williams stated, "We're extremely excited today to be working with Manna Health. CannaOne will exclusively build, manage and oversee a customized enterprise version of BloomKit for Manna Health intended to be the "go-to" online CBD product marketplace in Mexico".
"BloomKit, our enterprise software solution, will give Manna the capability to offer a flagship and fully operational online CBD marketplace once Mexican regulations are finalized. For example, It will offer Manna the ability to inherently monitor and track pick-up and delivery logistics, and the capability to deliver historical and current trending analytics to ensure optimal management of all CBD sales channels. It will provide this all with the benefit of a simple and easy to use built in eCommerce solution."
Riby-Williams further added, "This collaboration with Manna will provide CannaOne the immediate credibility of working directly with a highly respected Mexican organization that already has existing partnerships covering retail and commercial land, pharmacies, shopping malls, and tourist destinations throughout Mexico.
Currently, Manna Health is approved by the Mexican government to buy, sell, lease, distribute, import, or export any products related to health and wellness. Once this CBD marketplace has launched, Manna has further committed to CannaOne to jointly study, analyze and utilize all market and consumer data that is collected and retained through the marketplace."
Zenabis Global Inc. has signed its first exclusive, definitive supply agreement under its Zen Craft Grow program. This first Zen Craft Grow agreement is an exclusive supply agreement between Zenabis, as a standard processor, and a micro-cultivator in the final stages of receiving its license that will bring unique genetics and small-batch, artisanally grown cannabis to discerning adult-use consumers across Canada.
The Zen Craft Grow program reflects Zenabis' ongoing commitment to offer consumers a range of unique and high-quality products. Through the Zen Craft Grow program, Zenabis provides its regulatory, compliance and quality control expertise to facilitate the licensing of small-scale craft growers, leverages its existing supply agreements with provincial liquor authorities, wholesalers and licensed retailers in nine Canadian jurisdictions, and provides consumers across the country with access to high-quality, compliant and quality assured cannabis products from passionate and committed micro-cultivators.
Zenabis will market these craft products under the Founders' Reserve brand (www.foundersreserve.ca). This brand name reflects Zenabis' desire to pay homage to the growers and advocates who played such a significant part in the establishment of the legal cannabis industry.
"As a licensed producer with a national distribution network for the adult use market, we are thrilled to bring the distinct and specialized products of licensed micro-cultivators to customers across Canada," said Andrew Grieve, Chief Executive Officer of Zenabis.
"Founders' Reserve, and our Zen Craft Grow program, represent something new in the Canadian marketplace. This brand will provide safe, consistent and quality-assured products from commercially licensed growers, and the strains sold under this brand will reflect the dedication and passion that come from years of cultivation experience. Founders' Reserve will provide highly coveted cannabis strains, developed with care by cultivators who have a deep commitment to their plants and their products. We are pleased to offer these thoughtfully produced artisanal products across Canada via our existing supply and distribution partners. Zen Craft Grow adds a new dimension to our product offerings, expands our brands through the addition of Founders' Reserve, and demonstrates our commitment to a wide range of stakeholders, including micro-cultivators and consumers. We are excited about this program, and we intend to execute definitive, exclusive supply agreements with more than 20 licensed micro-cultivators and applicants with whom we have developed relationships."
3 Sixty Risk Solutions Ltd. announced that the Company, which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., has been selected by Harvest One Cannabis Inc. to provide a portfolio of security services which include secure transport, secure cannabis storage and retail deliveries. Harvest One has a global portfolio of brands including United Greeneries, Satipharm, Dream Water, and Burb that serves the adult recreational and medical cannabis markets from cultivation to retail distribution. The global footprint of Harvest One, with a presence in five countries, aligns with 3 Sixty's strategic goals of realizing significant organic growth and accelerating growth using M&A to expand operations within Canada, the United States of America and internationally.
"Harvest One is a tremendous example of a company serving the full spectrum of customer needs from cultivation to production to retail distribution of top-quality products," said Thomas Gerstenecker, CEO and Founder of 3 Sixty. "It is led by expert growers, brilliant engineers and creative entrepreneurs and it has announced supply agreements in Ontario, British Columbia, Manitoba and Saskatchewan. We look forward to supporting Harvest One as it expands its cultivation footprint and retail distribution network in Canada and internationally."
NexTech AR Solutions, a company focussed on bringing next generation web enabled augmented reality (AR) platform with Artificial Intelligence (AI) and analytics to the Cannabis industry, eCommerce, education, training, healthcare and video conferencing, announced that it has signed an LOI to acquire an eCommerce business that generated USD $2.2 million in revenue and $600,000 in EBITDA in 2018, for the purchase price of $1,850,000 in cash. The company is currently conducting its due diligence, which is expected to last three weeks, with an expected closing of the transaction to follow.
"This LOI sets the stage for our third acquisition in 2019 and upon closing would push our eCommerce division toward a projected USD $5 million in consolidated revenue and $1 million in EBITDA for 2019," said Evan Gappelberg, CEO of NexTech. "Since going public we have been focused on both launching our AR platforms around our three verticals, AR eCommerce, AR university, and AR live streaming, and a growth-by-acquisition strategy that we continue to execute on."
Upon closing this acquisition NexTech will:
● Accelerate the launch of existing and exciting new AR and AI technologies.
● Advance and significantly enhance our knowledge of the AR customer journey through analyzation of real-time data from our analytics installed on site.
● Enable the fast integration of a broad range of AR and AI capabilities onto the site, creating a one-of-a-kind eCommerce AR/AI showcase for consumers and prospects.
●
NexTech has already closed on two acquisitions in 2019 - one in January and one in February - and has also entered into a separate LOI in March as part of its strategy to grow through acquisition of revenue generating companies that possess industry-leading technologies.
Canopy Growth Corporation, a world-leading, diversified cannabis company and OG DNA Genetics ("DNA"), a globally recognized cannabis brand, announced today they have signed an agreement to extend and expand upon their previously announced partnership through to 2024. With this newly signed agreement, Canopy Growth and DNA have extended their partnership beyond Canada and Jamaica and have committed to bringing DNA's world-renowned genetics to a soon-to-be disclosed European market.
Canopy Growth and DNA entered into their first agreement for the Canadian market in 2015. The partnership gave Canopy Growth access to a wealth of unique, genetically-diverse cannabis strains that it then incorporated into its Canadian product lines. And, of course, the brain trust and witty charm of Don and Aaron themselves, the founders of DNA. In 2017, the partnership between Canopy Growth and DNA was renewed and expanded into Jamaica to bring DNA's original strains into future Caribbean markets. Under the terms of today's announcement, Canopy Growth and DNA have committed to working together through 2024 and will make every effort to expand into global markets, including Europe, where regulations permit the legal sale of cannabis for medical and recreational purposes.
"Teaming up with DNA has proven to be a very strong and mutually beneficial partnership," said Mark Zekulin, President and co-CEO of Canopy Growth. "Renewing our partnership for the next five years was a no-brainer for us and we look forward to introducing their high-quality DNA products to consumers around the world."
Tilray, Inc., a global leader in cannabis research, cultivation, production and distribution, today reported financial results for the fourth quarter and year ended December 31, 2018. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. Some of the highlights included: a revenue increase to $43.1 (C$56.4) million, up 110.0% compared to last year, driven by bulk sales, the inaugural sales for the Canadian adult-use market and accelerated wholesale distribution in export markets; a long-term revenue sharing agreement with Authentic Brands Group to leverage their portfolio of brands and develop, market and distribute consumer cannabis products across the world; acquired Manitoba Harvest, a hemp and natural foods producer in Winnipeg, Manitoba, who distributes products to 16,000 retail locations in the US and Canada for up to $317 (C$419) million; and more.
“2018 was a very successful year for Tilray with many corporate milestones. Our team made significant progress on our long-term initiatives including increasing production capacity, expanding and strengthening strategic partnerships, and acquiring complementary businesses to accelerate our future growth and leadership position in medical and adult-use cannabis,” commented Brendan Kennedy, President and Chief Executive Officer of Tilray. “Looking ahead, we remain committed to pursuing global growth opportunities and will be disciplined in deploying capital, particularly in the United States and Europe, where we believe we have multiple paths for value creation.”
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Disclosure NexTech (OTCQB: NEXCF) was featured in a paid for article on Investorideas.com
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#CannabisNews: Westleaf (TSXV: $WL.V) (OTCQB: $WSLFF) Enters Exclusive Partnership with Industry Leader in Cannabis Derivative Product Research and Production
#CannabisNews: Westleaf (TSXV: $WL.V) (OTCQB: $WSLFF) Enters Exclusive Partnership with Industry Leader in Cannabis Derivative Product Research and Production
Westleaf and Xabis agree to exclusive Canadian engagement
for manufacturing cannabis derivative products
CALGARY, ALBERTA –March 19, 2019 – (Investorideas.com Newswire) Westleaf Inc. (TSX-V: WL) (OTCQB:WSLFF) (“Westleaf”), is pleased to announce it has executed a term sheet with Xabis Inc. (“Xabis”), whereby Xabis has agreed, subject to execution of a definitive agreement, to provide expertise to the Company’s Calgary cannabis extraction and production facility. The facility formerly known as Delta West, will be rebranded The Plant by Westleaf Labs (“The Plant”) after Westleaf consolidated its interest in The Plant to 100%. Provided Health Canada issues the applicable license for The Plant, the extraction and production facility under construction in south east Calgary is expected to produce cannabis derivative products and, after legalization of such products which is expected later this year, consumables, topicals and other cannabis infused products, subject to and in compliance with provincial and federal regulations.
Xabis is a Colorado-based cannabis processing company which provides turnkey operations for companies in the mid-stream of the cannabis industry. With more than 150 years of collective experience, Xabis’s team of PHDs and scientists manage, what in Westleaf’s view, is the most technically difficult processes in the cannabis life-cycle, all aspects of the extraction and manufacturing of cannabis infused products.
Read this in full at https://www.investorideas.com/news/2019/cannabis/03197TSXVWL-Partnership.asp
Highlights
· Tapping into Industry Leading Expertise – Xabis is an industry leader in design, construction and management of cannabis extraction and manufacturing facilities, as well as product development:
o Xabis has run facilities in various states in the US for a total of 8 years of cumulative operating experience; and
o Xabis has developed more than two dozen different form factors (delivery systems such as vape pens etc.) and concentrate types with more than two hundred individual product SKUs, including oil based oral solutions, gummy edibles, hard pressed tablets, water soluble powders, oil-based capsules, body melt capsules and suppositories.
· Focus on High Margin Products – Upon legalization of the broader set of derivative cannabis products, Westleaf believes a diversified offering of derivative cannabis products will account for the majority of consumer demand. Westleaf is focused on differentiated product formulations to produce vape cartridges, edibles, beverages, and topicals to meet this expected demand in accordance with applicable regulations.
· Developing Products for the Global Market – The Plant is being built to EU Good Manufacturing Process (GMP) specifications to ensure compliance regulations in Canada (one of the largest emerging cannabis markets), and for export capabilities. Strategically located in Calgary, the facility is not only in the largest retail market in the prairies, but also has easy access to transportation services to the rest of Canada and to global markets.
· Scalability – The Plant includes an approximately 60,000 square foot complex with Phase I (~15,000 sq. ft.) designed to include R&D, processing, extraction, manufacturing and order fulfillment. Construction is expected to be complete in summer 2019. It is anticipated that the facility will be capable of producing the full suite of new derivative product lines in preparation of Health Canada’s anticipated legalization of derivative and consumable products, expected to occur on October 17, 2019.
· Multiple Revenue Streams – The Plant is designed to produce a diversified offering of cannabis derivative products under Westleaf’s brand portfolio. Additionally, Westleaf plans to offer white labeling services to produce finished products for third parties, as well as contract manufacturing services for raw extract and distillation.
· Truly Vertically Integrated Company – Westleaf is one of the few truly vertically integrated companies in the Canadian cannabis industry, with assets owned and under development across each vertical of the business, including cultivation, extraction, processing & manufacturing, distribution and wholly owned retail. Westleaf believes that being vertically integrated provides significant optionality and defensively positions the company to protect margins across the life cycle of the industry.
“We are entirely focused on the plant-to-product portion of the value chain,” explains Dale Zink, CEO of Xabis. “From the end of the grow to the final processed product shipping out to the retail store or dispensary, we apply our expertise to help companies create the industry’s best and most profitable processes and systems.” Zink leads a group of PHDs with extensive experience in biotechnology and chemical engineering, including experience in the extraction industry, the pharmaceutical industry and academia.
The move by Xabis into the Canadian market under an exclusive relationship with Westleaf is the company’s first foray into the largest single legalized recreational market. Xabis has designed, built, and operated facilities in five (5) US states where medical or recreational cannabis has been legalized.
“This partnership is another part of the execution on Westleaf’s strategy of becoming a significant vertically integrated player in the Canadian cannabis industry,” said Scott Hurd, President and CEO of Westleaf. “We believe a diversified offering of derivative cannabis products will account for a major shift in consumer demand once legal. We are positioning to formulate unique, high quality derivative products and bring in the best minds in the industry to help leverage our expertise in building and running these types of facilities.”
Artist's rendering of The Plant in SE Calgary.
The Brand Story
The Plant derives its name from the origin story of the company: a plant is not just a source of life; at Westleaf, it’s our source of inspiration. Not only nature’s ideal version of growth, to us, it’s also a place of progress and production. A place to press forward. To build on our foundation, extract our most potent ideas, and to optimize everything we do. It’s not where we cultivate, it’s where we innovate. In order to ensure we provide the absolute best our country has to offer and fulfill our mandate to be at the forefront of cannabis research, development and technology. This is our place of constant growth.
About Xabis
Xabis brings scientific discipline, sound business principles, and professionalism to the cannabis industry by delivering turnkey processing operations for the commercial scale transformation of cannabis from plant to product. Xabis is led by seasoned business professionals and scientific experts, including some of the industry’s leading chemical and biological PhDs and engineers. For more information, please visit http://www.Xabisinc.com.
About Westleaf Inc.
Westleaf is a vertically integrated cannabis company focused on innovative retail experiences and engaging cannabis brands as well as cultivation, production and extraction of cannabis products. Westleaf is rolling out a national retail footprint for its retail concept Prairie Records, with stores planned for British Columbia, Alberta, Saskatchewan and potentially Ontario. The retail concept leverages the instinctual tie between recreational cannabis and music and redefines the cannabis purchasing experience. The Company also has two significant production facilities under construction and scheduled for completion in 2019. For more information, please visit http://www.westleaf.com or www.prairierecords.ca.
More Information:
Bruce Leslie, VP Corporate Communications
Bruce Leslie, VP Corporate Communications
Bruce.leslie@westleaf.com
403-801-7612
Or
Lauren Steeves, NorthStrategic
Lauren.steeves@northstrategic.com
306-717-3253
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release
Cautionary Statements
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. This news release, forward-looking statements relate, among other things, to: (i) the execution of a definitive agreement with Xabis; (ii) development of The Plant facility, the quality of the facility, the products to be produced at the Facility and the expected opening date thereof; (iii) the legalization of derivative products and the resulting market therefor; (iv) Westleaf’s ability to market and sell its products across different markets, including globally; (v) approval of Health Canada for The Plant; and (v) the business and operations of Westleaf. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Westleaf assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
This news is published on the Investorideas.com Newswire – News that Inspires big ideas
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure this news is a paid for news release on the Investorideas.com newswire by Westleaf Inc Learn more about costs and our newswire service https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country.
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#Cannabis Goes Next-Gen: Moving From Retail to E-Commerce; (TSXV: $RIV.V), (OTCQB: $NEXCF) (CSE: $NATR.C), (TSXV: $FAF.V), (CSE: $CHOO.C)
#Cannabis Goes Next-Gen: Moving From Retail to E-Commerce; (TSXV: $RIV.V), (OTCQB: $NEXCF) (CSE: $NATR.C), (TSXV: $FAF.V), (CSE: $CHOO.C)
Point Roberts WA, Delta BC – March 19, 2019 - Investorideas.com, a leading investor news resource covering tech and cannabis stocks releases a snapshot looking at the future of cannabis sales as companies focus on next-gen tech and e-commerce platforms.
E-commerce has decimated the retail sector over the past decade, and while in its early days, ‘brick and mortar’ and retail operations were a key in the cannabis sector for gaining early financial momentum, it seems the cannabis industry is looking to the future. Now, with less restrictions and regulations surrounding the market, cannabis companies are looking to establish proper e-commerce as many see it as the future of this, if not most other industries.
Read this in full at https://www.investorideas.com/news/2019/cannabis/03193Stocks-eCommerce.asp
Canopy Rivers Inc. (TSXV: RIV.V), the investment firm offshoot of Canopy Growth Inc. and LeafLink, Inc. recently announced the establishment of LeafLink Services International ULC, a new venture that exclusively licenses and leverages LeafLink’s dominant business-to-business (B2B) marketplace and supply chain technology platform for deployment throughout regulated international cannabis markets.
“We have been very impressed with LeafLink’s deep market penetration and their understanding of cannabis companies’ needs and behaviors,” said Narbé Alexandrian, President of Canopy Rivers. “The number of brands and products within our new cannabis economy has been explosive, making it difficult for retailers to deal with multiple parties in an increasingly fragmented market. As regulated cannabis consumption and distribution proliferates around the world, LeafLink International will introduce the industry’s leading SaaS-enabled marketplace to the global stage to create a new standard for expediting the cannabis supply chain in regulated markets.”
NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) is a company focused on bringing next generation, web enabled augmented reality (AR) platforms with Artificial Intelligence (AI) and analytics to the e-commerce, education, training, healthcare, video conferencing and cannabis sector. Having already worked with Cannvas Medtech and Premier Health in the cannabis sector, NexTech recently announced that it has signed an LOI to acquire an e-commerce business that generated USD $1.9 million in revenue and $560,000 in EBITDA in 2018, for the purchase price of $1,850,000 in cash.
"This LOI sets the stage for our third acquisition in 2019 and upon closing would push our Commerce business toward a projected USD $5 million in revenue and $1 million in EBITDA for 2019," said Evan Gappelberg, CEO of NexTech. "Since going public we have been focused on both launching our AR platforms around our three verticals, AR eCommerce, AR university, and AR live streaming, and a growth-by-acquisition strategy that we continue to execute on.”
NexTech has already closed on two acquisitions in 2019 - one in January and one in February - and has also entered into a separate LOI in March as part of its strategy to grow through the acquisition of revenue generating companies that possess industry-leading technologies.
Fire & Flower Holdings Corp. (TSXV: FAF), an independent, licensed cannabis retailer is also looking to the future, having announced that the Company has launched its e-commerce platform to sell adult-use recreational cannabis to customers in the province of Saskatchewan and accessory products to customers across Canada.
"The launch of our e-commerce platform demonstrates Fire & Flower's commitment as a technology-focused and data-driven retailer," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "Our intuitive e-commerce platform is leading the industry as a digital retailer in the emerging recreational cannabis market."
The e-commerce platform was developed by Fire & Flower's digital product studio, HiFyre Inc. which was acquired by Fire & Flower in July of 2018. HiFyre Inc. has significant cannabis experience, working in the legal cannabis industry for the past six years with clients including Mettrum Health Corp., Starseed Medicinal Inc. and Canopy Growth Corporation.
Choom™ (CSE: CHOO) (OTCQB: CHOOF), a Canadian cannabis retail company also announced the completion of its e-commerce platform.
Choom, through a licensed enterprise-level platform, has completed the build out of a top tier e-commerce retail solution. This online storefront will provide a customized shopping experience that's integrated with Choom's retail stores and capable of scaling to $500M+ annually. Choom has ensured the platform's flexibility to compliantly handle both B2C and B2B sales to service and sell to any type of buyer in the cannabis industry.
This online growth for Choom is good news for Aurora Cannabis Inc., who recently invested $27 million in the Choom private placement and the convertible debenture offering. The money helped Choom in achieving “a number of its strategic growth initiatives,” Aurora said in a statement recently, including their e-commerce launch.
We can expect to see more adoption of AR, VR, AI and other next-gen tech solutions in the cannabis space as the industry looks further away from the retail sales strategy of the past and into the online interactive sales of the future.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
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