After roughly 100 years of cannabis Prohibition, it isn’t only the (legal) cannabis industry that has to be built from scratch. There is also an enormous need for cannabis information and education, combined with the sophisticated analytics that are necessary to process this cannabis user data effectively. One of the companies seeking to fill this void is
Cannvas MedTech Inc. (
CSE: MTEC,
OTCQB: CANVF, FRA: 3CM,).
Stockhouse first introduced this Company to investors in a full-length
feature article from July 3, 2018. Cannvas MedTech features multi-pronged education and analytics platforms for the cannabis space. Among MTEC’s principal vehicles for monetizing its technology is its innovative “Cannvas Kiosk”, a cost-efficient data-driven digital interface for cannabis patients, practitioners and retailers.
The Cannvas Kiosk has already been successfully rolled out in the United States via a partnership model with other significant players in the U.S. medicinal cannabis industry. Recent partnerships include Cannvas MedTech’s deal with Empower Clinics (CSE: CBDT) and US Cannabis Pharmaceutical Research and Development.
Now the Company is exporting this successful strategy to Europe. On
May 15, 2019; Cannvas MedTech announced its European expansion plans. MTEC’s Chief Operating, Steve Loutskou provided investors with further details.
“The Cannvas executive team has spent a significant amount of time in Europe advancing the need for cannabis education directed at consumers and health care practitioners coupled with analytics to better understand a rapidly-growing cannabis market across the continent. With deep roots in countries such as Greece and Portugal, our executive team is well-positioned to leverage key contacts within those medical markets and ease expansion plans within those regions.”
Sewing the seeds; raising the crop; reaping the harvest. Spreading and monetizing Cannvas MedTech’s Cannabis Kiosks is a multi-stage process. With the seeds already planted in Europe, the Company is now focused on growing its “crop” of Cannabis Kiosks as cannabis normalization spreads across the EU.
With Europe lagging behind North America in phasing out cannabis Prohibition, Cannvas MedTech’s expansion into Europe is a ground-floor opportunity. The Company cited research from the Brightfield Group, which projects the EU’s legal medicinal cannabis market to reach nearly US$8 billion in size by 2023. Separately, Prohibition Partners is forecasting even more robust growth, an overall US$65.6 billion market by 2028.
MTEC’s immediate expansion priority is Germany’s medicinal cannabis industry. Not only does Germany represent the EU’s largest single population, it is also a leading EU jurisdiction in advancing a medicinal cannabis market. Management has indicated that “high-level conversations” are already underway with potential partners.
While Cannvas MedTech’s near-term path to revenues is the direct monetization of its Cannabis Kiosks, the Company also wants investors to focus on the longer-term revenue potential of its technology modules, specifically its Cannvas.Me platform. Demand for education solutions is expected to come from healthcare entities, retail outlets, cannabis manufacturing and distribution, government, and educational institutions.
Armed with the data derived from its Cannabis Kiosks, the Company sees the large void in cannabis education and information providing strong growth potential for Cannvas.Me. MTEC plans to augment these revenue streams through ad placement in its cannabis tech platforms.
Building a new cannabis industry requires more than merely cultivating cannabis and manufacturing/retailing cannabis products. After being bombarded with decades of now discredited anti-cannabis propaganda, there is a huge need for bona fide cannabis education to fill this void.
With a strong technology platform and an aggressive strategy for building and monetizing its data collection/analytics network, Cannvas MedTech is well-positioned to become a leading player in this process.
cannvas.com
FULL DISCLOSURE: This is a paid article of Stockhouse Publishing.