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Platinex Developing a Cannabis Destination

Ryan Allway

April 12th, 2017

News, Top News

In this article, we will look at Platinex Inc.’s (CSE: PTX) (OTC: PANXF) goal of creating shareholder value through opportunistic acquisitions in both cannabis and mining.

Platinex is developing the world’s first online cannabis shopping mall – Cannabismall.shop – in an effort to capitalize on Canada’s burgeoning cannabis industry. The company is working with top-tier information technology firms and consultants to build out the e-commerce project that is expected to launch over the coming months. While many companies are focused on obtaining cultivation licenses, Platinex’s management team believes that there’s a much larger opportunity in becoming a leading online destination for consumers to purchase legal equipment – such as vaporizers, grinders or soil enhancers and security systems.

“The CSE is the market of choice to build this project, seek new opportunities, and grow the company’s mining assets,” said President & CEO James Trusler in a recent press release announcing the company’s move into cannabis. “Platinex’s contacts in this new industry extend throughout North America. This is a unique, ambitious project. Its aim is to build an online powerhouse that generates growing revenue and becomes a preferred destination as the Amazon of cannabis.”

Canada’s cannabis industry is expected to reach $12.7 to $22.6 billion in size over the coming years, according to Deloitte analysts. The base retail market could be worth as much as $8.7 billion per year, while cultivators, infused product makers, testing labs, and security firms could realize the balance of the market size. These estimates don’t include ancillary markets – such as consumer products or paraphernalia – that could make the market even larger.

Additional Opportunity in Mining

Platinex also offers investors an opportunity in the mining sector through its Shining Tree and other gold and platinum assets located throughout Canada. With an experienced management team at the helm, the company is well-positioned to continue executing on these projects and build long-term value for shareholders.

Platinex President & CEO James R. Trusler has over 50 years of experience in Canada’s mining and exploration industry. In the 1980s, Mr. Trusler was instrumental in Teck Resources Ltd.’s (TSE: TECK) acquisition of a gold prospect in the Hemlo area of Ontario. The area eventually included two of Canada’s largest gold mines that contributed up to 60% of Teck’s operating profits from 1985 until it sold the interest in 2009 and facilitated its growth into a major.

In 1998, Mr. Trusler founded Platinex, assembled an operating team, and raised $4.2 million to take the company public on the TSX Venture exchange. The company faced several challenges since then, including First Nation blockades and litigation, but raised a further $6.8 million and reached a settlement with Ontario that involved $5.3 million and a 2.5% Net Smelter Royalty on its former Big Trout Lake property – an unprecedented win for shareholders.

The company has since focused on executing an aggressive acquisition and exploration program on its Shining Tree property. After a four-year hiatus, the company commenced a resource valuation of the Herrick gold deposit to establish a NI 43-101 compliant resource including consideration of an open pit. The company has drilled over 50 holes that have returned good gold values and over a 400m strike length and 300m depth.

Looking Ahead

Platinex Inc. (CSE: PTX) (OTC: PANXF) represents a unique opportunity to capitalize on both the Canadian mining and cannabis industries. With an exceptional management team at the helm, the company has demonstrated its ability to execute and is capable of generating significant long-term value for shareholders. Investors may want to keep an eye on the stock given the diversified potential in two different industries.

For more information, visit the company’s website at www.platinex.com.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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