3 Sixty Risk Solutions Ltd. (CSE: SAFE) 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.