Security Companies Find a New Niche in Rapidly Expanding Cannabis Market

According to a report by ArcView Market Research and BDS Analytics, the global legal cannabis market was valued at US$9.5 billion in 2017 and is expected to grow at a CAGR of 37 percent, making it one of the fastest growing industries in the world. This has led to cannabis companies to develop security measures to guard against intruders and monitor their premises to ensure that their product is safe and meeting government regulations. As a result, many security companies, like 3 Sixty Secure Corp (CSE:SAFE), are being engaged to help set up these security systems.

3 Sixty is one of Canada’s leading security service providers to the cannabis sector and provides security consulting, guarding and secure transport services to licensed cannabis producers, such as Canopy Growth Corp. (NYSE:CGC,TSX:WEED). 3 Sixty also recently entered into a multi-year agreement with the Ontario Cannabis Store (OCS) to provide secure transport services for delivering product to their stores.

“I am extremely pleased that we were selected by OCS to provide security services and to contribute to safe and responsible access to cannabis in Ontario,” said 3 Sixty Founder and CEO Thomas Gerstenecker. “We believe that our agreement with OCS highlights the world-class quality of our security services and the impressive pedigree of our customer base. We continue to seek new services to offer to our existing customers and we are looking beyond our borders for geographic expansion opportunities that allow us to export our expertise across Canada, the US and internationally as we seek organic growth and consider disciplined M&A opportunities to accelerate growth.”

To read the full article, click here.

Click here to connect with 3 Sixty Secure Corp (CSE:SAFE) for an Investor Presentation. 

Source: www.prnewswire.com