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VANCOUVER, Jan. 8, 2019 /CNW/ - 3 Sixty Risk Solutions Ltd. ("3Sixty" or the "Company") is pleased to announce that it expects to commence trading on the Canadian Securities Exchange ("CSE") today under the ticker symbol "SAFE". The Company, which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., is also pleased to announce an operational update which includes significant progress in expanding its security consulting, guarding and secure transport business and continued growth of its consulting services business.
"I am extremely pleased with the progress that we have made in realizing our goal of going public as a means to accelerate our strategic growth plans with enhanced access to capital," said Thomas Gerstenecker, CEO and Founder of 3Sixty. "We successfully raised capital in October, and we have delivered on our promise to significantly grow our consulting, guard and transport customer base, which includes many of Canada's leading LPs, and we continue to increase the number of customers served by our consulting service. I look forward to continued execution of our growth agenda by filling what I consider a serious gap in the Canadian and US cannabis security industry as recreational cannabis supply grows and matures in Canada, in the US and globally."
"Further, I would like to welcome David Hyde as President of 3 Sixty," added Thomas Gerstenecker. "David brings extensive industry experience as a security expert and the founder of David Hyde & Associates, Canada's leading cannabis security consultancy services. I am confident that we have assembled a world-class management team and board of directors which positions the company extremely well as one of the largest and most experienced companies providing security services to the emerging cannabis industry within Canada."
Operationally, the Company is pleased to report that its two major business segments experienced meaningful growth in the three months ending November 30.
- 3Sixty exited August 2018 with more than 40 secure transport and guarding customers, and more than 400 security consulting clients;
- On a percentage basis, guarding and secure transport customers experienced the highest growth, up approximately 65% following the addition of 27 new customers;
- On an absolute basis security consulting experienced the largest uptick in clients with the addition of 82, up approximately 20% in the period.
- Importantly, 3Sixty successfully converted five security consulting clients from one of its predecessors, Total Cannabis Security Solutions Inc. ("TCSS"), into guarding and secure transport customers, an achievement which reinforces the thesis that there are significant opportunities to organically grow sales through cross-sell to the combined 3Sixty and TCSS customer base which has had very little overlap to date.
- The Company is focused on continued growth within the Canadian and US cannabis industry with numerous opportunities to expand into adjacent security services, new industry verticals and to realize international expansion.
3Sixty is one of Canada's leading security service providers to the cannabis sector providing a comprehensive suite of security services including guarding and secure transport, security consulting, security management, integrated security systems and executive protection. 3Sixty expects to deliver significant value to its customers, shareholders and stakeholders by:
- Providing world-class seed-to-sale security expertise to the cannabis industry. As a leading security company with a focus on cannabis, 3Sixty expects to continue to grow its leadership position in core security services and security consulting. The Company is led by executives with substantial experience in security services, military, police services, security consulting and NGOs which the Company believes is unique in the Canadian and US security industry serving the cannabis sector.
- Leveraging the high-growth cannabis industry as the cornerstone of 3Sixty's business. The Company has been a pioneer in the cannabis industry since 2013. Deep expertise and first-mover advantage in the cannabis industry has positioned 3Sixty favourably in a complex and highly regulated industry.
- Taking advantage of significant organic growth opportunities in new geographies, verticals and industries. Canadian cannabis is at the core of 3Sixty's business. However, the Company believes that there are significant growth opportunities available by adding to the portfolio of security services offered to cannabis clients and through expansion to the highly lucrative US market. Further, the Company expects to add non-cannabis customers in industries that are characterized by high value products where security is critical. Organic growth opportunities are expected to be accelerated through the use of strategic M&A where opportunities arise.
About 3 Sixty Risk Solutions Ltd.
3 Sixty Risk Solutions Ltd., operating through its wholly-owned subsidiary, 3 Sixty Secure Corp., is one of Canada's leading security service providers to the cannabis sector, transporting approximately $250 million of product every month. 3Sixty provides cannabis security consulting, guarding and secure transport security services to more than 500 customers and more than 60 licensed cannabis producers, including some of the world's largest, such as licensed producers owned by Canopy Growth Corporation. 3Sixty has a staff of over 275 employees and employs a fleet of over 60 vehicles, which management believes provides a combined security footprint to approximately 30 million square feet of patrolled area.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the business and operations of 3Sixty. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 3Sixty assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE 3 Sixty Risk Solutions Ltd.
For further information: regarding the Company, please contact: Carlo Rigillo, Chief Financial Officer, 3 Sixty Secure Corp., (866) 360-3360, [email protected]