ManifestSeven: From Railroads to Fiber in California’s Cannabis Industry
October 20th, 2020
App, Exclusive, News, Top Story
California has the world’s largest cannabis market with an estimated $12 billion in annual sales. While legal cannabis sales topped $3 billion last year, the state continues to struggle to meet high expectations with logistical and other challenges.
ManifestSeven Holdings Corporation (CSE: MSVN), which recently debuted on the Canadian Securities Exchange on September 30, aspires to solve many of these problems with its innovative business model designed to connect enterprises operating across legal cannabis supply chain — from cultivator to retailer, and everyone in between — to consumers in a more uniform and familiar manner, and without all of the overhead. In essence, it’s building the ‘Amazon of Cannabis’ with service stretching from Sacramento to San Diego and extending across the value chain.
Let’s take a look at ManifestSeven’s resilient management team and how it plans to scale revenue and grow shareholder value over the coming months.
From Railroads to Fiber
ManifestSeven is often referred to as the ‘Amazon of Cannabis’, but like Amazon.com, there’s a lot more to the business than its public facing website. Amazon.com relies on an extensive distribution network that includes its own fleet of vehicles and cargo airline, as well as a network of more than 175 fulfillments centers around the world.
CEO Sturges Karban explains what investors can expect in the coming year:
ManifestSeven doesn’t have the same distribution capacity, mainly because it faces several more barriers when it comes to selling highly regulated cannabis products. Nonetheless, the company has spent the past few years building out and integrating the physical infrastructure that now supports its growing distribution services and retail businesses, including its network of distribution centers and dispensaries across the state of California—from Sacramento to San Diego.
This nascent “laying of the railroads” phase, as CEO Sturges Karban describes it — which was very focused on assembling the nuts and bolts of M7’s physical infrastructure — is increasingly ready for an upgrade into a more modern, “fiber optic” network. As the company pivots to rolling out additional services, many of which will be underpinned by technology platforms familiar to businesses and consumers alike from other industries, the sophistication and reach of the company’s distribution and retail platforms can only grow stronger and deeper; while the company is already generating growing revenue and closing in on profitability, the team plans to scale its market footprint and increase customer penetration by aggressively exploiting its 1-800-CANNABIS brand and technology assets over the coming year.
Resilient Management Team
ManifestSeven had spent three years building a resilient business model before the COVID-19 pandemic hit. Despite the impact of the pandemic, between Q1 and Q2 of 2020, the company managed to increase revenue by 25% quarter over quarter, reduce its net burn by over 70% and complete a capital raise during a period of capital starvation—a testament to its strong business model and leadership team.
Listen to CEO Sturges Karban on why MSVN is attractive to investors:
The company’s management team is led by CEO Sturges Karban, a Harvard-educated businessman who has more than 20 years of experience across capital markets, investment banking, asset management and high-growth operations. Prior to joining the company in 2014, he co-founded Meridian Advisors, a boutique consultancy in LA, NYC and London.
Sturges is joined in the C-suite by a number of executives who share a similar background and pedigree. Urban Smedeby, the President of the company, has 30 years of experience in the global capital markets, with a principal focus on affinity industries, such as life sciences. The company’s Chief Investment Officer hails from CIM Group, California’s largest real estate private equity fund. Dilshad Kasmani, M7’s Chief Legal Officer and General Counsel, practiced at Andrews Kurth LLP and Paul Hastings LLP, before going in-house at Cardtronics plc (NASDAQ: CATM) and then American Midstream Partners LP (NYSE: AMID). In addition to this resident strategic and financial experience, the company’s C-suite includes Chief Operating Officer Pierre Rouleau, an entrepreneurial executive with repeated successes in the regulated cannabis, high-tech, and aviation industries; prior to ManifestSeven, Pierre was the Chairman and COO of cannabis dispensary operator, ShowGrow, where he helped expand that company’s retail presence into multiple locations across California and Nevada during the early days of statewide legalization, bringing to the table longstanding channel, operational, and industry relationships, experience, and expertise.
ManifestSeven Holdings Corporation (CSE: MSVN) has built a dynamic business that expects to encounter numerous catalysts over the coming months. With plans to scale revenue through its 1-800-CANNABIS brand and technology assets, investors may want to take a closer look at the stock. On September 30, the company debuted on the Canadian Securities Exchange under the ticker symbol MSVN, making it accessible to retail traders and investors.
For more information, visit the company’s website or download their investor presentation.
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