SEATTLE, Jan. 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- 3 Sixty Risk Solutions Ltd. (CSE: SAFE), operating through its wholly-owned subsidiary, 3Sixty Secure Corp., recently announced the completion of its reverse merger to go public on the Canadian Securities Exchange (CSE). On January 8, the company began trading under the aptly-named ticker symbol “SAFE.” The company will become one of the only pure-plays in the cannabis security and the largest Canadian provider of security services to companies like Canopy Growth Corp.
In this article, we will take a closer look at the cannabis security industry and why 3 Sixty Risk Solutions represents a compelling opportunity in the space.
Cannabis Security Market
The cannabis industry is expected to generate more than $194 billion in revenue over the coming years, according to the Bank of Montreal, driven by the legalization of adult-use cannabis in Canada, several U.S. states, and a growing number of countries worldwide. There are many different subsets of the cannabis industry, including various ancillary businesses, but few have become as important as security.
The U.S. cannabis industry has experienced the greatest challenge with security given the lack of federal level legalization. Without access to formal banking, many dispensaries and cultivators have been forced to keep high amounts of cash on hand. The high amount of cash and valuable inventory on hand makes these companies a natural target for criminals compared to many other types of businesses.
In Canada, the need for security is driven much more by regulation than outright necessity. Licensed producers that fail to maintain adequate security standards risk losing their licenses or experiencing other penalties that could harm their businesses. The rapid growth in square footage and lack of experienced labor also means that businesses must take extra precautions to ensure that their employees can be trusted.
Becoming a Market Leader
Thomas Gerstenecker founded 3 Sixty Secure Corp. after spending 25 years in the international security industry, including a stint as Chief of Security for the United Nations and as a member of Canada’s special forces. After joining forces with David Hyde, a former Security Chief for a multibillion dollar corporation, the two created one of Canada’s largest and most prolific cannabis security firms.
3 Sixty Secure Corp. serves more than 60 Canadian licensed producers and more than 500 customers, including industry leaders like Canopy Growth. With over 250 employees and 60 vehicles, the company provides a combined security footprint to approximately 30 million square feet of patrolled area. These figures make it one of the largest Canadian cannabis security firms—and the largest publicly-traded cannabis security firm by clients.
In addition to its exceptional management team, the company has an experienced board of directors to help guide its growth. Gaetan Lussier, a Deputy Minister in the Government of Canada, will serve as Chairman of the Board. He will be joined by Vernon White, a Canadian Senator and former Chief Police of Ottawa; Igor Gimelshtein, former CFO of MedReleaf; and Nancy Croitoru, a former CEO of Food & Consumer Products of Canada.
3 Sixty Risk Solutions Ltd. (CSE: SAFE) represents a compelling pure-play in the Canadian cannabis security space. With its recent reverse merger complete, investors can buy into the company as a way to diversify their cannabis portfolios with a relatively safe bet on the need for security services. The company could also see ongoing growth as it expands its operations into consulting and other high-margin areas.
For more information, visit the company’s website at www.3sixtysecure.com.
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For more information, visit the company’s website at: www.3sixtysecure.com
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The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/