TORONTO, July 12, 2018 /CNW/ - Total Cannabis Security Solutions Inc. ("TCSS"), a risk-management and compliance company, announced today the acquisition of David Hyde & Associates Inc. ("DHA") of Toronto. The transaction brings together two of Canada's leading cannabis-focused security solution providers, with fully-aligned strategic visions, as well as complementary assets and capabilities.
TCSS provides risk and security management services to the legal cannabis industry, allowing its clients to focus on core business activities, confident that their assets are protected from seed to sale. The legal cannabis landscape is evolving rapidly and the regulatory compliance expertise provided by TCSS to its clients is a critical business enabler.
David Hyde & Associates Inc. is the leading Canadian security and licensing consulting firm in the regulated cannabis sector in Canada and abroad. Over the past 5 years, the company has provided security and compliance advisory services to more than 300 regulated cannabis producers and 50+ retail cannabis license applicants across Canada, attended 30+ licensing inspections with Health Canada, and worked with more than half of the Licensed Producer sites in the country.
"We are very proud to welcome David Hyde and his team to TCSS," said Neil Weaver, Chief Executive Officer at TCSS. "We are setting the gold standard for security solutions and compliance in the highly regulated legal cannabis industry. Our integrated risk-management approach provides a holistic, one-stop platform in support of our clients' business initiatives."
David Hyde will assume the role of Chief Operating Officer at TCSS effective immediately.
"Our firm has established a very effective niche as Canada's leading consulting company in the cannabis industry during the past five years, and we are delighted to continue that as a part of Total Cannabis Security Solutions," said David Hyde, Owner and Principal Consultant at DHA. "The important growth in scale and expertise created by this transaction will provide extraordinary value to our clients in the business-critical areas of security solutions and regulatory compliance within Canada, the US and across the globe."
The legal cannabis market in Canada is expected to grow to almost $7 billion by 2020. There are currently 111 ACMPR licensed producers across the country.
About Total Cannabis Security Solutions
Total Cannabis Security Solutions Inc. specializes in security, risk-management and compliance services to stakeholders in the regulated cannabis industry. By providing clients with a complete suite of 'seed to sale' security solutions at all stages of the cannabis value-chain, TCSS looks to set the global standard for security across the cannabis markets. For more information, visit our website: www.totalcannabissecurity.com.
About David Hyde & Associates
David Hyde & Associates is the leading security and licensing consulting firm in the regulated cannabis sector in Canada and abroad. Since 2013, the company has provided security and compliance advisory services to licensed cannabis producers throughout Canada, the US, Europe and Australia. David Hyde & Associates is headquartered in Toronto. For more information, visit our website: www.davidhyde.ca.
SOURCE Total Cannabis Security Solutions Inc.