ManifestSeven Doubles Down on Emerald Triangle with New Facility
Ryan Allway
February 9th, 2021
App, Exclusive, News, Top News
California’s legal cannabis industry is on track to reach $7.2 billion in sales by 2024, according to Arcview Market Research and BDS Analytics, which represents a 19% compound annual growth rate. The Emerald Triangle region is widely considered to be the epicenter of that growth with its ideal microclimate and world-class operators.
Let’s take a look at California’s Emerald Triangle, ManifestSeven Holdings Corporation’s (CSE: MSVN; OTCMKTS: MNFSF) new facility in the region and what that means for investors.
California’s Emerald Triangle
Northern California’s Emerald Triangle has become the largest cannabis-producing region in the United States with a microclimate that’s ideally suited for growing cannabis. Like Napa Valley or Sonoma in the wine industry, the region has become home to a number of leading cannabis brands and retailers recognized around the world.
The Emerald Triangle in California – Source: Grist
The residents of Humboldt, Trinity and Mendocino counties have been growing cannabis since the 1960s, but the passage of Prop 215 in 1996 marked the beginning of the industry’s blockbuster growth. The Compassionate Use Act of 1996 permitted the use of medical marijuana and opened the door to widespread cultivation.
Cannabis growers in Mendocino County alone generate about $1 billion per year and marijuana represents two-thirds of the local economy, according to a county-commissioned study. Meanwhile, neighboring Humboldt-grown cannabis carries a proof of origin label that mirrors the same trends in the wine industry where authenticity is often the key to price.
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ManifestSeven’s New Facility
ManifestSeven recently announced the opening of its fully licensed, multi-purpose facility in Brisbane, California. Located in the Emerald Triangle, the completion of the centralized distribution and logistics hub marks a significant strategic milestone as the company continues its statewide expansion of core regulated cannabis operations.
“With the launch of our latest facility yet, we are accomplishing more than just expanding our distribution capabilities and asset footprint in Northern California,” said ManifestSeven CEO Sturges Karban. “Our operations in Brisbane are ideally situated within one of the state’s most diverse and commercially dynamic regions.”
The new facility enables the company to quickly and cost-effectively reach many of the state’s most recognizable brands and deliver them to customers throughout the state. In particular, the facility improves distribution and accommodates manufacturing activities such as packaging and labeling, co-packing, white-labeling and infusion.
Moving Up the Value Chain
ManifestSeven’s core distribution and logistics business connects California’s preeminent cannabis producers with retailers and customers across the state. With over 200 retail dispensary accounts in its network and 40,000 sq. ft. of operational space, the company covers approximately 88% of the state’s sprawling market—or about 23 million eligible adults.
In addition to its distribution capabilities, the company has moved up the value chain in recent years with the opening of company-owned dispensaries, delivery services and the iconic 1-800-CANNABIS brand. The company’s 1-800-CANNABIS brand fields over 6,000 monthly phone calls while its marketing database has over 676,000 subscribers.
These efforts to move up the value chain have been instrumental in fueling the company’s growth and reaching toward profitability. During the third quarter, the company’s revenue rose 96% year over year, despite the impact of COVID-19, and its adjusted EBITDA loss decreased 69% to $1.3 million as it targets near-term profitability.
Looking Ahead
California’s Emerald Triangle is known as one of the most important cannabis cultivation regions of the world. With its new facility in the region, ManifestSeven Holdings Corporation (CSE: MSVN; OTCMKTS: MNFSF) is well positioned to help some of the largest and most successful brands in the space reach retail dispensaries and consumers across the state.
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Disclaimer
The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
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.
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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