POINT ROBERTS, Wash. and DELTA, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering
tech and cannabis stocks releases a snapshot looking at the future of cannabis sales as companies focus on next-gen tech and
e-commerce platforms.
E-commerce has decimated the retail sector over the past decade, and while in its early days, ‘brick and mortar’ and retail
operations were a key in the cannabis sector for gaining early financial momentum, it seems the cannabis industry is looking to the
future. Now, with less restrictions and regulations surrounding the market, cannabis companies are looking to establish proper
e-commerce as many see it as the future of this, if not most other industries.
Canopy Rivers Inc. (TSXV: RIV.V), the investment firm offshoot of Canopy Growth Inc. and
LeafLink, Inc. recently announced the establishment of LeafLink Services International ULC, a new venture that exclusively licenses and
leverages LeafLink’s dominant business-to-business (B2B) marketplace and supply chain technology platform for deployment throughout
regulated international cannabis markets.
"We have been very impressed with LeafLink’s deep market penetration and their understanding of cannabis companies’ needs and
behaviors," said Narbé Alexandrian, President of Canopy Rivers. "The number of brands and products within our new cannabis economy
has been explosive, making it difficult for retailers to deal with multiple parties in an increasingly fragmented market. As
regulated cannabis consumption and distribution proliferates around the world, LeafLink International will introduce the industry’s
leading SaaS-enabled marketplace to the global stage to create a new standard for expediting the cannabis supply chain in regulated
markets."
NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) is a company
focused on bringing next generation, web enabled augmented reality (AR) platforms with Artificial Intelligence (AI) and analytics
to the e-commerce, education, training, healthcare, video conferencing and cannabis sector. Having already worked with Cannvas Medtech and Premier Health
in the cannabis sector, NexTech recently announced that it has signed an LOI to acquire an e-commerce business that generated USD
$1.9 million in revenue and $560,000 in EBITDA in 2018, for the purchase price of $1,850,000 in cash.
"This LOI sets the stage for our third acquisition in 2019 and upon closing would push our Commerce business toward a projected
USD $5 million in revenue and $1 million in EBITDA for 2019," said Evan Gappelberg, CEO of NexTech. "Since going public we have
been focused on both launching our AR platforms around our three verticals, AR eCommerce, AR university, and AR live streaming, and
a growth-by-acquisition strategy that we continue to execute on."
NexTech has already closed on two acquisitions in 2019 - one in January and one in February - and has also entered into a
separate LOI in March as part of its strategy to grow through the acquisition of revenue generating companies that possess
industry-leading technologies.
Fire & Flower Holdings Corp. (TSXV: FAF), an independent,
licensed cannabis retailer is also looking to the future, having announced that
the Company has launched its e-commerce platform to sell adult-use recreational cannabis to customers in the province of
Saskatchewan and accessory products to customers across Canada.
"The launch of our e-commerce platform demonstrates Fire & Flower's commitment as a technology-focused and data-driven
retailer," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "Our intuitive e-commerce platform is leading the
industry as a digital retailer in the emerging recreational cannabis market."
The e-commerce platform was developed by Fire & Flower's digital product studio, HiFyre Inc. which was acquired by Fire & Flower
in July of 2018. HiFyre Inc. has significant cannabis experience, working in the legal cannabis industry for the past six years
with clients including Mettrum Health Corp., Starseed Medicinal Inc. and Canopy Growth Corporation.
Choom™ (CSE: CHOO) (OTCQB: CHOOF), a Canadian cannabis retail company also announced
the completion of its e-commerce platform.
Choom, through a licensed enterprise-level platform, has completed the build out of a top tier e-commerce retail solution. This
online storefront will provide a customized shopping experience that's integrated with Choom's retail stores and capable of scaling
to $500M+ annually. Choom has ensured the platform's flexibility to compliantly handle both B2C and B2B sales to service and sell
to any type of buyer in the cannabis industry.
This online growth for Choom is good news for Aurora Cannabis Inc., who recently invested $27 million in the
Choom private placement and the convertible debenture offering. The money helped Choom in achieving "a number of its strategic
growth initiatives," Aurora said in a statement
recently, including their e-commerce launch.
We can expect to see more adoption of AR, VR, AI and other next-gen tech solutions in the cannabis space as the industry looks
further away from the retail sales strategy of the past and into the online interactive sales of the future.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC,
NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
For investors following AR and AI stocks, visit the tech stocks directory .
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