#Tech Disruption Driving
the #Cannabis Sector: (OTC: $GOHE) (OTC: $TRTC) (TSX: $RIV.TO) (OTC: $CNPOF) (OTCQB: $SING)
Point Roberts WA,
Delta BC – September 18, 2019 - Investorideas.com, a leading investor news
resource covering tech and cannabis stocks releases a snapshot reporting on
some of the key technology developments impacting the cannabis sector and how
companies are deploying “disruptive” technologies to ensure early mover
advantage.
Since Federal
legalization in Canada, and with new markets opening up every day in either the
US or abroad the cannabis industry has become a magnet for game changing
technology growth-whether looking at production, extraction, online sales
platforms, blockchain technology, packaging and so on, the list is endless.
Looking at the
payment sector, Global Payout Inc. (OTC: GOHE), through its wholly
owned subsidiary MTrac Tech Corporation, has now reached a point where it is
effectively processing tens of millions of dollars in daily transaction volume
across its growing base of clients in the multibillion-dollar cannabis
industry.
Read this in full at https://www.investorideas.com/news/2019/cannabis/09181TechDisruption.asp
As demonstrated in
the Company’s recent Q2 disclosure detailing Company financials, MTrac’s growth
trajectory has remained positive and has continued to gain significant traction
throughout the year. This growth can be attributed to the successful
strengthening of their foothold and market reach in what has become one of the
most dynamic industries in today’s economy. This feat has been accomplished in
part through MTrac’s success in securing several strategic service agreements with
some of the largest companies in the industry today.
This follows on the
heels of the launch of MTrac’s massive update to its blockchain
powered payment platform, which includes the addition of new banking partners
to provide a suite of enhancements to improve the merchant experience through
added stability, reliability and system integrity.
Many companies have
attempted to solve the cash problem in cannabis and they most certainly have
all come to realize the complexities of navigating the financial and regulatory
challenges in this constantly evolving industry. The Schedule 1 classification
persists as the main deterrent to financial institutions providing its services
to cannabis merchants.
“We continue to
attract key banking partners with our compliant and seamless solution as an
industry leader in this innovative financial technology space,” said Mr. Kevin
Curtis, MTrac Chief Strategy Officer. “These strategic updates to the MTrac
platform are being done in order to further stabilize the platform and to
continue serving our clients in this next growth phase we are embarking upon.
The MTrac 3.0 launch is the culmination of key partnerships, significant market
share, and our team’s focus on compliance, service, and stability.”
“As these new bank
networks are being injected, MTrac is also downsizing the equipment needed to
process transactions on the merchant side, which will reduce hardware costs and
deployment time to the merchant to enable faster adoption, onboarding, and an
improved checkout process for the customer,” said David Flores, EVP. “These
updates will also provide unlimited processing bandwidth and more secure
transactions with EMV chip and pin debit features, which will allow for overall
enhanced merchant and consumer experience.”
The company has
recently signed a new account application with an anticipated 34 locations and
has applications coming in weekly for the services offered through MTrac.
In addition to their
expanding market reach, the Company is also fully engaged with key legislative
partners in different states to help push for the adoption of their system as a
means of providing merchants within these states with a viable and compliant
payment processing alternative to cash as they remain focused on delivering
“The Key to Cashless®” to as much of this diverse and expanding
industry as possible.
Terra Tech Corp. (OTC: TRTC), has focussed on integrating the best of the
natural world with technology to create sustainable solutions for medical
cannabis production, extraction and distribution, plant science research and
development, food production and Closed Environment Agriculture (CEA).
Through its Blüm
Santa Ana dispensary, Terra Tech has been a major supplier of medical and
adult-use cannabis to Santa Ana and the surrounding cities, such as Irvine,
Laguna Beach and Newport Beach. All of the aforementioned cities suffer from a
scarcity of existing cannabis dispensaries. The launch of their premier
delivery service has enabled the Company to expand distribution of its
best-in-class cannabis products to reach an even greater number of patients and
customers.
Terra Tech purchased
multiple delivery vans and hired sales associates to deliver products within
Orange County, CA, starting with a 20-mile radius out of the Company's Blüm
Santa Ana store.
The company recently entered into an agreement to
sell 100% of the assets of its Blüm Reno dispensary located at 1085 S Virginia
St Suite A, Reno, NV 89502, including the building where the dispensary is
located, for a purchase price of $15,000,000.
Terra Tech’s Blüm
Reno dispensary has been operational since January 2017 and provides cannabis
products to the local medical and adult-use markets, including the Company’s
proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, waxes
and oils, among other high-quality cannabis products from a range of reputable
providers of superior grade medical cannabis.
Derek Peterson, CEO
of Terra Tech, commented, ''Selling the cannabis retail license for our Blüm
Reno dispensary is another key milestone in our restructuring plan, a strategy
that has been implemented to leverage our balance sheet to fuel growth, as
opposed to approaching the capital markets more often than is necessary. Our
Blüm dispensary in Reno has substantially increased in value since its opening
and selling its assets allows the Company to strategically monetize this asset.
To move forward with our restructuring strategy, we plan to redeploy the
additional capital generated by this sale toward more productive assets in
California in areas such as infrastructure and sales and marketing.”
One company that has
been keeping pace with the advanced technology trends coming to the industry is
Canopy Rivers Inc. (TSX: RIV.TO) (OTC: CNPOF), a venture capital
firm specializing in cannabis. The company recently announced that its portfolio
company, TerrAscend Corp. has entered into a distribution agreement with Syqe
Medical, Ltd., an Israel-based pharma-tech company, to launch Syqe's flagship
product, The Syqe™ Inhaler, in Canada.
The Syqe™ Inhaler is
the world's first metered-dose medical cannabis inhaler and will provide
Canadians with an alternative to dried flower medical cannabis. Metered dosing
allows patients and healthcare providers to predictably, precisely and
consistently deliver treatment at pharmaceutical standards. Syqe's technology
is supported by completed controlled clinical trials, a milestone only a
limited number of companies have achieved, with patients suffering from chronic
pain. The Syqe treatment provides rapid pain relief while reducing psychoactive
effects, allowing patients to resume normal daily activities. The technology
was launched in the Israeli market in June 2019.
"We continue to be
thrilled with the steps TerrAscend is taking to build an industry-leading
business that spans retail, manufacturing, distribution, biotechnology, and now
health tech," said Narbe Alexandrian, President and CEO of Canopy Rivers.
"We believe that TerrAscend is uniquely positioned in the Canadian market
to deliver on the consumer demand for innovative and rigorously tested products
like the Syqe device."
Canopy Rivers is not only looking at production and
consumption technology but also data analytics which is becoming more essential
to the industry. One of their investments, Headset, the leading provider of
data and analytics to the cannabis industry, recently announced it is
launching its competitive intelligence tool, Headset Insights in Canada.
Recreational cannabis has been legal country-wide in Canada since October 2018 and the young and growing market
is still developing. This will be Canada's first retail-derived cannabis market
read based on aggregated Point of Sale data at the receipt-level.
"This announcement is further proof that Headset will
continue to dominate the cannabis data and analytics vertical – first in the United States and now in Canada," said Mr. Alexandrian.
“This announcement validates our belief that in the cannabis industry, like
other mature industries, data will be king."
SinglePoint
Inc. (OTCQB: SING) has also been looking at
disruptive technology coming to the market with their recent shareholder update on the
success of Jacksam/Convectium. As a lead investor in Jacksam before the company
went public, SinglePoint was able to secure sizeable interest in the company.
Jacksam has now gone public and the value of the company has increased
significantly and both parties foresee a very bright future ahead.
“To date, Jacksam has been a tremendous investment for
SinglePoint. This is exactly what we look for when investing or acquiring
businesses. The company was successful in its original vision and has increased
the opportunity for major scalability by opening up the platform. They are now
able to work with some of the biggest companies in the space such a CCELL. We
are excited to be a part of this high growth company and believe it will only
continue its exponential growth,” commented Wil Ralston, President of
SinglePoint.
Convectium is the inventor of the world’s first cannabis
oil filling system and proprietary packaging systems. This is a major
advancement at a time when about 80% of all concentrate products (vapes and
pods) are filled manually. By hand, oil
cartridge fills are completed at a paltry 75 per hour. Convectium’s 710 Shark
system can exceed that in less than a minute on its way to produce between
6,000-12,000 in an hour.
Commenting on their product capabilities,
Jacksam/Convectium CEO, Mark Adams stated: "Up until now companies using
CCell cartridges couldn’t access our state-of-the-art automation equipment
which delivers up to 287% more efficiency and 80% labor savings. Our new 'open
system' approach catapults our market potential to another level by enabling
large-scale CBD or THC concentrate companies to increase output, reduce risks,
costs and waste, and beat the competition. These unique machines enable
concentrate companies to automate the 'fill and cap bottleneck' and cement
Convectium’s position as the only true scalable system in the business.”
While production and cultivation remain essential to the
growth and stability of the cannabis market, we are starting to see how much of
an impact even one of these emerging technologies can have on the ancillary
sectors and how some early adopters have been able to achieve massive
competitive advantages.
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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