#Cannabis Companies Moving to Establish E-Commerce
Platforms; (TSXV: $RIV.V) (OTCQB: $NEXCF) (CSE: $NATR.C) (TSXV: $FAF.V) (CSE:
$CHOO.C)
Point Roberts, WA and Delta, BC - March 20, 2019
(Investorideas.com Newswire) 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.
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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