Point Roberts WA, Delta BC
-- September 18, 2019 -- InvestorsHub NewsWire --
via 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.
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 focused 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 become 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 from 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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