2020 Elections Create Unique Opportunity for Helix Technologies
November 10 2020 - 11:00AM
ADVFN NewsWire
Denver, CO - November 10, 2020 - InvestorsHub NewsWire -
Helix Technologies,
Inc. (OTCQB:
HLIXHLIX)
(the "Company"), the leading provider of critical infrastructure
services to the legal cannabis industry, is preparing to
participate in the 5 states that have increased access to legal
cannabis for their citizens this election. New Jersey, Montana, and
Arizona all expanded their medical programs to adult use, South
Dakota legalized medical and adult use marijuana, and Mississippi
voted to legalize medical cannabis.
While cannabis legalization has been gaining ground nationally
over the last few years, the 5 for 5 sweep of state-level ballot
measures sent a clear message that the American people are
overwhelmingly in favor of cannabis legalization with measures
passing in both deep red and deep blue states.
Furthermore, the ballot measures will increase the total
addressable market by at least 20mm state residents with tens of
millions more living adjacent to newly minted recreational markets.
While state-level ballot initiatives received the most attention,
local measures could also increase market size as new
municipalities allow adult use sales, including 6 densely populated
Chicago suburbs. The measures could increase retail sales by
billions of dollars in the coming years and represent a tremendous
opportunity for both plant touching and ancillary cannabis
businesses.
While the ballot measures will have components taking effect
from late 2020 all the way through 2022, there are significant
opportunities for growth in both the government and commercial
sectors. Although Arizona and New Jersey do not currently employ
tracking systems, a recreational program without a viable
traceability platform has never been tried, so it is likely that
they will consider implementing one. South Dakota and Mississippi
are also likely to explore the options for track and trace.
Furthermore, with the growing demand for cannabis that comes with
adult use, there will undoubtedly be expansion of license counts
with Multi-State Operators leading the way.
Through its industry-leading suite of proprietary software,
Helix Technologies is well positioned to take advantage of the
expanding markets for both commercial and government software. As
the only software provider that has massive market share in
government as well as retail software markets, Helix is well
positioned to benefit from these market openings. Helix's
proprietary dataset, the largest in the industry, and analytics
capabilities are both of great value to operators and regulators
looking to navigate the tumultuous waters of new cannabis programs.
Helix's involvement in the cannabis industry predates the origins
of adult use cannabis, providing the company with the data sets
that preview consumer behavior and regulatory outcomes in a way to
uniquely support each new state's market development.
"This is a very exciting time for the cannabis industry. New
markets will continue to open, and existing markets will gain
further momentum and transparency," said Zachary L. Venegas, Helix
Technologies Executive Chairman and CEO. "We provide traceability
and POS software to a larger combination of governments and
commercial operators than any firm in the industry, and as we move
ahead with key strategic initiatives, these new markets present
outstanding avenues for growth. The fact that we are the #1 or #2
market share-leader in every seed-to-sale software market will
place Helix Technologies in good stead."
About Helix Technologies, Inc.
Helix Technologies,
Inc. (OTCQB: HLIX) is the leading provider of critical
infrastructure services, helping owners and operators of licensed
cannabis businesses stay competitive and compliant while mitigating
risk. Through its proprietary technology suite and security
services, Helix Technologies provides comprehensive supply chain
management, compliance tools, and asset protection for any license
type in any regulated cannabis market. While Helix provides
services to the Cannabis and Hemp Industries, the Company does not
deal directly with the plant or any derivative products. Helix
Technologies' products reach over 2,000 customer locations in 36
states and 9 countries and have tracked over $20 billion in
cannabis sales. For more information on Helix Technologies and to
sign up for investor updates, visit us at www.helixtechnologies.com and
follow us on Facebook,
Twitter and
LinkedIn.
Sign up for the CannaPulse
Newsletter for legislative changes, software updates and
more.
About Helix Technologies, Inc.
Helix's industry-leading compliance and point of sale
technologies are tailored to the unique needs of the quickly
evolving cannabis industry, offering customers seamless compliance
management solutions and earning government contracts in this
rapidly growing market. The BioTrack cutting-edge platform is
designed to scale alongside the cannabis industry. The Helix's
leadership team has deep experience in entrepreneurship, mergers,
acquisitions, technology and security. With headquarters in Denver,
Colorado and teams based in Florida, Washington, Hawaii, Nevada,
and Argentina, Helix is committed to providing highly sophisticated
and secure operating environments.
Forward-Looking Statements
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements. Actual results might differ materially
from those explicit or implicit in the forward-looking statements.
Important factors that could cause actual results to differ
materially include: our ability to fund our operations and pay any
outstanding debt; fluctuations in our financial results; general
economic risks; the volatile nature of the market for our products
and services and other factors that could impact our anticipated
growth; our ability to manage our growth; changes in laws and
regulations regarding the cannabis industry and service providers
in the cannabis industry; reliance on key personnel; our ability to
compete effectively; security and other risks associated with our
business; intellectual property risks; and other risk factors set
forth from time to time in our SEC filings. Helix Technologies
assumes no obligation and does not intend to update these
forward-looking statements, except as required by law.
Media Contact:
Colt Peterson
Helix Technologies, Inc.
303-324-1022
press@helixtechnologies.com
IR Contact:
Scott Ogur
Helix Technologies, Inc.
ir@helixtechnologies.com