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ALMONTE, ON, Feb. 7, 2019 /CNW/ - 3 Sixty Risk Solutions Ltd. ("3Sixty" or the "Company") (CSE: SAFE) is pleased to announce that the Company, which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., has entered a strategic alliance with the Cannabis Mercantile Exchange ("Cannamerx"), the fully automated international auction platform for wholesale cannabis, cannabis products, and genetics, to recommend certain products and services provided by each company to their respective customer base. There are more than 50 Canadian licensed cannabis companies that have joined Cannamerx, and since June 2018 it has helped facilitate the trade of more than 25 tonnes of cannabis and cannabis products through its automated auction platform as well as supply agreement auction process.
"We view the formation of a strategic alliance with Cannamerx as another opportunity for 3 Sixty to grow our domestic customer base and to gain access to the highly lucrative international market," said Thomas Gerstenecker, CEO and Founder of 3Sixty. "In a short period, Cannamerx has added more than 50 Canadian cannabis companies to its platform and has taken on a well-regarded and important key role in the Canadian cannabis supply chain. We look forward to providing our world-class offering to all Cannamerx clients. As Cannamerx grows, we will be well positioned to serve its B2B customers that require a leading seed-to-sale security provider to safely transport cannabis products while remaining compliant across multiple jurisdictions."
"We have been very impressed with the growth and performance of 3 Sixty's world-class security services, as well as its top-tier customer base which includes some of Canada's leading LPs," added Dietwald Claus, CEO of Cannamerx. "We are very proud to work with 3 Sixty to provide secure transport solutions to Cannamerx clients for products traded via the Cannamerx system, as well as promoting 3 Sixty's other services, from security consulting to site protection. Partnering with the highest quality service providers is yet another way we can add value for the licensed cannabis companies that use our trading platform."
Both companies emphasize that this strategic alliance does not involve any kind of payment between 3 Sixty and Cannamerx. Furthermore, Cannamerx does not have any financial stake in 3 Sixty, nor does 3 Sixty have any financial stake in Cannamerx. This is in line with Cannamerx's standing policy to never accept or pay referral fees from or to any of its partners or to have any kind of financial stake in any cannabis related company or allow any cannabis related company to have any kind of financial stake in Cannamerx.
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.
Cannamerx is the only fully-automated B2B auction platform for the legal cannabis industry, enabling licensed cannabis companies to trade bulk cannabis, cannabis products, and cannabis genetics with each other in an easy, low-cost manner fully compliant with Canadian and international regulations. Since its launch in November 2017, more than 50 Canadian licensed cannabis companies have joined Cannamerx. Since June 2018, Cannamerx has helped facilitate the trade of more than 25t of cannabis and cannabis products through its automated auction platform as well as supply agreement auction process. Access to Cannamerx is open to any cannabis company licensed to trade in cannabis, cannabis products, or cannabis genetics. For more information on Cannamerx, visit www.cannamerx.com. Cannamerx's current assets are all based in Canada, and it has no operations or assets in the United States.
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, IR@3sixtysecure.com