3 Sixty Secure: A Premier Opportunity in Cannabis Security
December 19th, 2018
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The global cannabis industry is projected to reach $146.4 billion by 2025, according to Grand View Research, representing a 34.6 percent compound annual growth rate. After legalizing cannabis on a federal level in October, Canada has become a world leader in the nascent industry. 3 Sixty Secure Corp. has become Canada’s leading security provider, with clients like Canopy Growth Corp. (TSX: WEED) (NYSE: CGC), The Ontario Cannabis Store, and The BC Liquor Distribution Branch. With plans to acquire a leading cannabis consulting service provider and go public in the near-term, investors may want to keep a close eye on the company as it continues its expansion in lockstep with the Canadian cannabis market.
There are many different security firms willing to help cannabis companies improve their security, however no other security company offers a seed-to-sale, pick-and-shovel security service in the cannabis space.
3 Sixty Secure Corp. is Canada’s leading security service provider to the cannabis sector, including over 60 licensed producers. The company’s staff of over 250 employees, and fleet of over 60 vehicles helps manage about 30 million sq. ft. of patrolled area, making it one of the largest cannabis security firms in the world. On average, 3 Sixty’s dynamic security team is currently transporting more than C$250m in value of product per month.
The company’s services span the entire seed-to-sale supply chain:
- Security Consulting: Site assessments, licensing advisory, and security design and buildout.
- Off-site monitoring: 24/7 professional CCTV monitoring of facilities.
- On-Site Security: Guard services and security systems, including remote monitoring, CCTV, and other services.
- Secure Transport: Unarmored and armored vehicles, air transport, and related services with real-time climate control.
- Corporate Security: International travel security, hiring security, investigations and training.
- Retail: Site assessments, store design consulting, licensing advisory, systems integration (including CCTV installation and monitoring facilities), and compliance audits for retail locations.
The transport services are specially tailored to the specific needs of the cannabis industry. When transporting plants, great care is taken to maintain plant health throughout the transport process. Vehicles are completely washed and disinfected following each delivery, ensuring that diseases and parasites will not be transferred between shipments. This is but one obvious differentiator for 3 Sixty when compared to more traditional security companies.
As the retail rollout continues across Canada, provinces are introducing new and varied regulations for consumer-facing stores. For instance, Ontario recently announced a comprehensive set of standards for retail operations in the province. Rules regarding surveillance equipment, employee access, proper handling and display of cannabis, record keeping, federal compliance, and even the destruction of outdated product are all covered here, presenting a complex set of requirements for cannabis retailers. 3 Sixty knows the space intimately and specializes in comprehensive security solutions, from design through implementation, that will ensure compliance. Ontario’s own government-run Ontario Cannabis Store has contracted with 3 Sixty to provide cannabis transport services for its operations.
Experienced Executive Team
Thomas Gerstenecker founded 3 Sixty Secure Corp. after spending 25 years in the international security business. Prior to starting the company, Mr. Gerstenecker served as Chief of Security for the United Nations and served in the Canadian Special Forces/Joint Task Force 2. As the cannabis industry unfolded in Canada, he noticed a lack of industry-specific services to meet the ever-expanding regulations controlling the sector.
3 Sixty is acquiring Total Cannabis Security Solutions/David Hyde and Associates, a move that will help further establish its leadership presence in the space. With a greater than 55 percent market share among LPs, TCSS has developed a strong reputation among both customers and regulators, led by well-known Canadian cannabis consultant David Hyde. The move will expand the company’s reach to more than 75 retail LP applicants, more than 60 producer sites, and more than 500 consulting customers.
The two companies plan to join forces in a reverse takeover of Petro Vista Energy Corp., creating a new publicly-traded entity on the Canadian Securities Exchange. The acquisition and RTO are expected to be completed in the very near term.
3 Sixty Secure Corp. represents a compelling investment opportunity in the Canadian cannabis industry with its industry-specific solutions and a large book of business. After building a market-leading presence in Canada, the company is also well positioned to expand its footprint into the United States and other international markets. Investors interested in building exposure to ancillary cannabis industries may want to examine the company ahead of its going public on the CSE.
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