J. Frank Sigerson Blog | The biggest partnerships in the cannabis business are changing the industry landscape | Talkmarkets

J. Frank Sigerson

Business and finance journalist
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I am a business and financial journalist as well as a culture writer focused on covering the following sectors: crypto, crowdfunding, technology, and marketing. I am interested in financial stocks, mostly in biotechnology, healthcare, mining, and blockchain. I also write about IT and design, ... more

The biggest partnerships in the cannabis business are changing the industry landscape

Date: Friday, December 7, 2018 7:38 AM EDT

 

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The cannabis industry is just beginning but it has already sparked a wave of innovation and is expected to grow to $146 billion by 2025. This potential has started a scramble as companies attempt to get a piece of this new market.

Some companies are resorting to huge purchases that expand their production capacity while others are busy with discovering new ways to improve their product offerings. On the other hand, there are many others that prefer striking partnerships and deals that would help solidify long-term growth. Here are just some of the biggest partnerships in the cannabis industry for now.

BioTrackTHC

Helix TCS, Inc.’s wholly owned subsidiary BioTrackTHC recently announced a partnership with Nevada-based Planet 13 Holdings Inc. BioTrackTHC will be the lead cannabis software provider to Planet 13 which is planning on launching the world’s largest cannabis entertainment complex in the Las Vegas Strip which will be 40,000 sq. ft. large featuring a 16,500 sq. ft. dispensary.

BioTrackTHC will be a great addition to Planet 13’s plans as it is the leading seed-to-sale cannabis software firm. For Planet 13’s complex, the company will guarantee smooth operations for nearly 50 registers in the area.

BioTrackTHC Chief Operations Officer Dr. Moe Afaneh says "due to the sheer size of the dispensary and its location, Planet 13 anticipates strong transaction volume with plans of adding more dispensaries in the near future in additional markets, such as southern California. We look forward to partnering with their team to help make it happen."

Choom Holdings Inc.

Vancouver-based Choom Holdings Inc. (OTCMKTS:CHOO) is run by a group of strong cannabis supporters. The founders of the company intimately understand Canada’s cannabis market and are prepared to make waves in one of the sectors that may be the most profitable, retail.

Choom provides retail opportunities to various cannabis brands that aim to reach premium clientele. The company has secured viable retail opportunities in 68 locations spread throughout three provinces, including Alberta, British Columbia, and Ontario, top locations that are considered the best spots to open a cannabis store.

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