‘Amazon of Cannabis’ ManifestSeven Makes Its Debut on the CSE
October 2nd, 2020
App, Exclusive, News, Top Story
ManifestSeven Holdings Corporation (CSE: MSVN) began trading on the Canadian Securities Exchange on Wednesday. With its reverse takeover complete and its listing on the CSE launched, the first integrated omnichannel platform for legal cannabis achieved a critical milestone and set the stage for expansion over the coming year.
“The listing equips M7 with an array of strategic benefits that will prove critical to our success, including enhanced global visibility and greater direct access to the capital markets, as we look to expand our omnichannel strategy across the rest of California, and eventually other North American markets, as well,” said CEO Sturges Karban.
The Canadian Securities Exchange has become the preferred equity market for cannabis companies, including those that operate largely in the United States. Given the unclear federal guidelines on cannabis, many companies prefer the security of Canada with its federal-level support for the industry. Investors have also flocked toward the CSE as a destination for cannabis investments.
Building a Superhighway
The California cannabis industry generated nearly $2 billion in sales last year and is projected to reach $5 billion in sales by 2022, according to industry analysts, making it the single largest cannabis market in the world. Following the COVID-19 pandemic, the industry will also become a critical source of tax revenue for state and municipal governments.
ManifestSeven is frequently referred to as the ‘Amazon of Cannabis’ for a reason—it’s merging compliant distribution with a retail superhighway to deliver products from cultivator to consumer throughout California. With four facilities stretching from San Francisco to San Diego, the company combines unparalleled online distribution with a growing retail presence.
After raising $10.2 million in three private placements this year, the company is well positioned to execute on its vision to build a seamless and integrated experience across multiple geographies and touchpoints with warehousing and delivery capabilities along with its own portfolio of owned and operated retail locations located in major metro markets.
Adding Value with Strategic Growth
ManifestSeven has dramatically grown its footprint over the past 18 months. It’s crown jewel is its Weden retail storefront in Orange County, which doubles as its headquarters for delivery operations across Southern California. In addition, the company continues to expand its Weden delivery operations in northern California. Weden is able to tap into one of the most affluent markets in the United States, and during the early days of COVID-19 restrictions, saw a huge spike in local sales, supported by the state’s declaration that cannabis is an “essential service”.
Further differentiating itself from competitors, ManifestSeven continues to grow MyJane – a curated cannabis service for women by women – which offers subscription services to Weden’s customer base.
These developments have helped build out a retail presence while its existing distribution network already works with more than 200 dispensaries and thousands of ancillary B2C customers. The company also holds licenses across all major California markets, which creates the potential for widespread distribution of branded cannabis and ancillary products.
ManifestSeven Holdings Corporation’s (CSE: MSVN) strong reception from retail investors indicates robust support for its long-term plans to become the ‘Amazon of Cannabis’. With a superhighway extending across California, the company has already become a leading distribution channel while simultaneously building out its own brands and brick-and-mortar locations.
For more information, visit the company’s website or download their investor presentation.
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