Garvis Toler of Helix TCS discusses the state of ancillary cannabis plays and his previous experience with the NYSE on the expansion of cannabis listings.
Garvis Toler, president of data services with Helix TCS (OTCQB:HLIX), says that up until now his firm has not focused on commercializing the data it has collected, but now with him on board that is going to change.
Toler spoke with the Investing News Network (INN) during his time at the recent MJBizConINT’L event in Toronto. Toler discussed the pathway for ancillary companies offering services to the marijuana industry.
The executive joined Helix TCS in August after serving as the global head of capital markets with the New York Stock Exchange (NYSE).
He told INN that during his time with the senior exchange a lot of research was done to understand the cannabis industry as a whole.
Helix TCS offers integrated solutions to its cannabis customers. Toler said the company will continue to pursue organic growth and business opportunities, but added it will consider further mergers or acquisitions to fill in the gaps of its development plan.
“When (you) start seeing a lot more investment dollars in capital as well as quality professionals, it makes you stand up and take notice,” he said.
Toler said the company wants to participate in the increased transparency trend for the legal marijuana industry through its services.
He explained he sees the major exchanges waiting until a larger legalization effort in the US to allow the entry of direct exposure marijuana stocks.
Canadian companies have been able to secure listings on the NYSE and NASDAQ thanks to the federal legality of cannabis in the country and the fact that these companies are not directly involved with the fractured US market.
“As I was there, we were starting to be a lot more comfortable listing some of the ancillary businesses, and I think you’re going to see that trend continue,” Toler said.
Listen to the interview above to hear the rest of Toler’s comments from the cannabis event.
Don’t forget to look for the rest of our coverage of MJBizConINT’L, with exclusive interviews and more insights from the show. You can also follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.