Snapshot looking at #Cannabis
#Stocks in #Nevada: #Payment #Tech Solutions to #Retail Deals (OTC: $GOHE),
(OTCQX: $TRTC), (TSXV: $NRTH.V) (OTC: $NCNNF), (CSE: $TGIF.C) (OTC: $TGIFF)
Point Roberts WA,
Delta, BC –August 26, 2019 - Investorideas.com, a leading investor
news resource covering hemp and cannabis stocks releases a snapshot focusing on
the recent developments occurring in the Nevada cannabis market as it matures
and expands.
A recent news report discussing the
potential of the Nevada market versus the California market mentioned, “a more
intriguing metric offered in State of the
Legal Cannabis Markets -- spending per capita -- suggesting that another
state could blow California out of the water in terms of attractiveness to
businesses and investors: Nevada.”
The article
continued, “Between 2018 and 2024, Arcview and BDS are forecasting that
Nevada's population will increase by about 10% to 3.4 million. Yet, with the
Silver State opening its doors to recreational marijuana sales in July 2017,
total legal spending is expected to surge from $567 million in 2018 to $1.41
billion by 2024. On a per-capita basis, this works out to $415.57 in spending.
That's more than double California ($172.08), and is higher than every other
state in the country. It's no secret that Nevada's exceptionally high spending
per capita forecast stems from the state's strong tourism. Las Vegas is a core
attraction for Americans and visitors from all over the world, which should
allow cannabis companies to focus their attention on Sin City to drive sales
and margins. Plus, Nevadans are faced with a combined 25% tax rate, including a
15% tax on wholesale sales, and 10% on retail sales. That's significantly less
than neighboring California, which should help reduce illicit production.”
Assuming Arcview's
and BDS Analytics' projections prove relatively accurate, there are a number of ways to play the most
lucrative market in the United States.
Global Payout Inc. (OTC: GOHE), through its Nevada
based subsidiary MTrac Tech Corporation, provides electronic wallet and e-banking financial
solutions for the marijuana industry, recently announced that the company has retained one of the nation’s leading government
affairs organizations, Strategies 360, to further the platform’s legislative
push to be recognized as the most innovative and seamless SaaS (Software as a
Service) solution to facilitate cashless, compliant, and secure payments for
the legalized cannabis industry.
Headquartered in
Seattle, WA, S360 represents a broad range of sectors with an expanding
footprint in 12 western states and DC. The S360 team is comprised of some of
the brightest, forward-thinking former executives from various industries, such
as technology, finance and energy, in addition to former state public office
holders.
Read this in full at https://www.investorideas.com/news/2019/cannabis/08261Nevada-PaymentTech.asp
One of the primary
goals of the MTrac platform has been to assist governments in their efforts to
both regulate the cannabis industry and solve the issues associated with cash
heavy transactions and a lack of available banking resources. Some states have
recently been exploring closed-loop systems to implement statewide regulatory
oversight of legal cannabis operations. For example, the state of Arizona has
opened a “Fintech” sandbox, allowing various closed-loop systems into the
Arizona market on a limited basis to see how well they operate. Nevada will
very shortly, be opening a Request for Proposal to find a closed-loop,
blockchain platform that will allow their cannabis industry to accept digital
payments. It is the opinion of management that the MTrac system is the most
seamless version of this payment platform available and offers the added
benefit of having a large and growing customer base to provide proof of
concept, similar to the recent state-wide launch in Louisiana.
“The agreement with
S360 could not have been timelier in terms of presenting our solution to the
western region, to showcase the features and functionality of the platform’s
closed-loop eWallet accounts for the states’ lawmakers.” said Mr. Jason
LeBlanc, Chief Compliance Officer of MTrac. “We are extremely excited to be
working with such a dynamic and results-driven government affairs team. The
opportunity to present our platform at the highest levels of state regulators
and legislators is an objective that our legal and compliance teams have been
working toward for the last several months, and the partnership with S360 is
now making this opportunity a reality.”
The Company looks
forward to working closely with the S360 team to introduce its payment platform
to the western states and will keep shareholders apprised of its progress at
regular intervals.
Terra Tech Corp. (OTCQX:TRTC), a vertically
integrated cannabis-focused agriculture company, recently announced that it has 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.”
Terra Tech
anticipates the closing of the transaction within 90 days, pending all state
and local jurisdictional approvals.
The Nevada market is
also starting to attract more Canadian companies such as 48North Cannabis Corp. (TSXV: NRTH) (OTC: NCNNF), who is hoping to
enter into the Nevada market soon, as the company recently signed a definitive
agreement to acquire Rare Industries, Inc., also known as Quill, a vape
technology brand.
Quill’s products are
being distributed in Oregon and Washington, with plans to reach California and
Nevada. The company said this acquisition is its first attempt to reach the US.
"48North
recognizes the importance of entering the burgeoning US market. I believe that
authentic brands and next-generation products distributed at scale,
particularly in the emerging US market, will be one of the major keys to
success in the cannabis industry," Alison Gordon, co-CEO of 48North said
in a statement. "Without question, the Quill suite of products aligns
closely with 48North's growing portfolio of brands.”
The total purchase
price was set to $2.1 million out of which $641,000 is cash and $1.46 million
is in the form of 48North’s common shares at a price of around 86 cents per
share, the company reported.
48North plans to
utilize Quill’s distribution network to promote its portfolio of brands in the
US, and also to sell Quill’s products via its distribution networks in Canada.
"48North's
industry-leading focus on next-generation cannabis products and its brand-first
consumer strategy will undoubtedly elevate Quill, its brand and products to the
next-level. The US-based Quill team is eagerly looking forward to joining with
48North's experienced and dedicated management team," said Ian Van Vaughan
Shaughnessy, co-founder of Quill.
1933
Industries Inc. (CSE: TGIF) (OTC: TGIFF), a vertically integrated cannabis consumer packaged
goods company, recently commenced the transfer
of cannabis plants to its new cultivation facility in Las Vegas following an
extensive period of systems-wide testing.
"This is a brand
new facility and we worked around the clock to ensure that all systems were
operational before transferring our plants,'' commented Mr. Tim Spencer,
Director of Cultivation. The new facility allows the Company to cultivate five
times the amount of cannabis flower that was previously produced to meet the
high demand for its branded flower and concentrate products under the
Alternative Medicine Association (AMA) line, which are sold in licensed
dispensaries in Nevada. AMA also produces well-known brands such as Gotti's
Gold, Kurupt's Moonrocks, and Denver Dab Co. under licensing agreements. The
increased flower production in the new facility will meet growing demand for
premium cannabis products and will have a significant impact on the Company's
bottom line.
The Company will
welcome OG DNA Genetics (DNA), a globally recognized leader in the research and
development of cannabis genetics, to its new facility. DNA selected AMA as its
partner in Nevada due to the Company's advanced facility, extensive
distribution channels and high-quality standards. DNA will provide specific
expertise to AMA for the development of a consistent phenotype strain for a new
line of co-branded flower and pre-rolls.
"We have
constructed a one-of-a-kind, purpose-built facility, integrated with the latest
technology to increase yields, bolster plant health and assure the consistency
and quality of our products,'' said Mr. Chris Rebentisch, CEO of 1933
Industries Inc. "As experienced cultivators, we understand that
controlling the growing environment is the most important part of cultivating
high-quality craft cannabis at scale, which is why we spent significant time,
capital and management's time, to build a state-of-the-art indoor facility. We
are investing in assets that will provide a continuous supply of the raw
materials necessary to produce our premium cannabis products and improve our
margins.”
In order to verify
that the plants are receiving exact amounts of nutrients and moisture content,
the facility was outfitted with drip automation in order to standardize
cultivation techniques and implement efficient watering and feeding systems
with waste reduction in mind. "We can exactly measure the water and air
content, meaning we are driving each plant's growth with actual data instead of
subjective opinion. This level of refinement is further testament to our
commitment to consistent quality," added Mr. Spencer.
Once the cannabis
plants are situated in the new facility, they will vegetate for approximately
four weeks before the flower cycle is begun for another eight weeks. The next
steps include harvesting, drying, packaging and third-party testing. The entire
cycle takes approximately 16 weeks.
As the Nevada market
expands in population and as more cannabis related infrastructure develops we
can expect it to become a rival, if not overbearing market in comparison to the
already massive California market. State tax and regulation changes could also
play an important role moving forward as federal legalization remains out of
reach in the US.
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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