POINT ROBERTS, Wash. and DELTA, British Columbia, Jan. 30, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot focusing on how the cannabis industry continues to force technology innovation as it faces new challenges with the sector’s continuing rapid growth.
The cannabis industry has begun to fully affect the beverage, food, medical and pharmaceutical industries but one area cannabis has helped drive forward from inception has been the tech industry. Due to the complexity of the cannabis plant as well as the strict regulations surrounding it, technological innovations have been a “must have” for any cannabis company that hopes to expand and grow.
Canopy Rivers Inc. (TSXV:RIV.V) (OTC:CNPOF), an investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector, recently announced its equity investment in Headset, Inc., a data and analytics service provider for the cannabis industry. Canopy Rivers subscribed for C$4,084,500 of Series A Preferred Shares in Headset, representing the Company’s first entry into a technology-focused cannabis vertical.
Headset is the first real-time business intelligence and analytics software platform for the cannabis industry. The experienced leadership team at Headset have deep roots in the cannabis industry, with Headset’s founders having also founded Leafly, the world’s largest cannabis information resource. With services that provide access to up-to-the-minute information on sales trends, emerging sectors, popular products, and pricing, Headset’s proprietary software platform allows customers to use data to identify new areas of opportunity, understand the competition, and tailor product development.
Smaller technology companies like EnviroTechnologies International, Inc. (OTC: ETII), which develops and markets green, natural and organic products for diverse industries, confirmed that it is preparing to introduce new technology to licensed cannabis growers in the northwest that will help eliminate growth-impeding pathogens and stimulate harvest yields.
“What hasn’t been covered as much is the potential and existence of fungal and contaminants that are prevalent in nearly all phases of plant growth, harvest, and post-harvest product processing of hemp and cannabis,” said Gaylord Karren, ETI’s President. “Mold and fungal presence in grow rooms, as well as outside grow facilities is not only dangerous but also negatively affects the plant’s growth cycle, killing large portions of the crop and leaving bacterial residue on the plants and facilities. This reduces the growth and the ultimate yield. The problem is that there is no real non-toxic solution to eliminate mold and fungal growth in grow facilities. ETI has the only real, effective, non-toxic solution to cleaning and sanitizing plant facilities.”
Randall Waters, ETI’s VP of Sales & Marketing said, “We are all focused and dedicated to addressing these growing market opportunities in the CBD, hemp and cannabis industries.”
Also embracing the cannabis/technology connection are larger Canadian producers like Aphria Inc. (TSX: APHA.TO) (NYSE: APHA), who recently entered into an exclusive agreement with Toronto-based UNOapp Inc. to collaborate on the development of technology and analytics solutions for Canada's adult-use cannabis industry.
"With our innovation-focused approach, Aphria is setting the pace for the evolution of the adult-use cannabis industry in Canada," said Jakob Ripshtein, President of Aphria. "Our industry's long-term future will be driven by consumer-centric, innovation-led product, brand and technology solutions. We are excited for this collaboration with a fantastic technology partner in UNOapp and look forward to developing industry-leading solutions that shape the adult-use cannabis market for years to come."
Founded in 2010, UNOapp has developed proven technology, marketing and analytical solutions that has enabled more than 4,500 customers across the globe to engage with their customers and drive revenue.
WeedMD Inc. (TSX-V: WMD) (OTC:WDDMF), a federally-licensed producer and distributor of medical-grade cannabis is also looking at tech partnerships as they recently announced, that with BLOCKSTRAIN TECHNOLOGY CORP., they have completed the 'first-of-its-kind' cannabis strain validation registration program - a testing and verification process that will confirm cannabis strains as purchased.
Strain validation will play an important role as cannabis products advance through the medical, pharmaceutical and retail channels. Following the collection and registration of plant DNA from its Aylmer, Ontario facility in October 2018, WeedMD becomes the first licensed producer in the world to incorporate a cannabis strains authenticity and tracking platform into its sales program.
One of the best things coming out of this rapid growth industry has been the need for innovation and it seems cannabis and technology will move forward hand-in-hand.
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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