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3 Sixty Risk Solutions Ltd. (OTC: PTVYF) (CSE: SAFE) today announced that 3 Sixty Secure Corp, a wholly-owned subsidiary of 3Sixty, has entered into a strategic partnership with Pineapple Express Delivery Inc. (“Pineapple Express”) to provide security services that support same day, last mile cannabis delivery services to residences and retailers across Canada. As part of the agreement, 3 Sixty Secure Corp. will provide secure transport services for high value, large volume cannabis and short-term cannabis storage services across the country.
3 Sixty Risk Solutions Ltd. is pleased to announce that the Company, which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., has entered into a multi-year, service agreement to provide guarding and secure transport services to an affiliate of MJardin Group, Inc. (“MJardin”) (CSE: MJAR) (OTCQX: MJARF), a global cannabis management platform with extensive experience in cultivation, processing, distribution and retail with more than 30 cultivation facilities under operation.
3 Sixty Risk Solutions Ltd. delivers professional, focused and reliable security solutions for the cannabis, law enforcement, oil and gas, mining, government, and industrial sectors. The Company relies on a network of the most talented, highly trained and committed security personnel in the industry.
Cannabis industry can target a large demographic, due to its multifaceted nature and medical, as well as recreational applications. Consumers can use cannabis to treat medical conditions such as arthritis, chronic pain, or epilepsy. It is also being used as a relaxation stimulant or just simply as a social lubricant. According to data compiled by Cowen analysts, the U.S. cannabis market is projected to generate USD 75 Billion in sales by 2030, revised from its previous forecast of USD 50 Billion by 2026. The firm estimates that there will be approximately 35 million cannabis consumers by the end of the forecast period. Based on current trends, the firm expects users to spend USD 1,500 on average per year for cannabis. Cowen says that the market is being propelled by the recent binge drinking behavior, opioid alternatives, and a large influx of first-time users.
The overall cannabis market is still stunted due to its listing as a Schedule 1 drug. Cannabis is generally accepted as a medical solution, but recent trends are signaling that the recreational market is also expanding, as the general consensus turns positive. With the development of the broader cannabis market, new sectors within the industry have risen. In particular, the cannabis security sector emerged due to concerns over protecting facilities as well as transporting products and money. Coe Downing, Head of Engineering at Fedora Security, says the demand of legal cannabis in Canada has created an opportunity for high-end security firms, reported by the Montreal Gazette. “For a high-value crop like cannabis, you need every-inch of your business under camera surveillance. It’s not just about seeing if Johnny went out the back door with some product,” said Downing.
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