Helix TCS Acquires Cannabase, the Largest and Oldest Wholesale Platform in the Cannabis Industry
Helix TCS ( HLIX 5,00 -0,40 -7,41% ), the leading provider of integrated operating solutions for the legal cannabis industry, is proud to announce its acquisition of Cannabase, the oldest and largest wholesale platform in the cannabis industry.
The purchase of Cannabase, a leading cannabis industry technology provider, will allow Helix TCS to rapidly expand its technology operations in the quickly emerging cannabis market. “Cannabase’s critical mass in the marketplace, coupled with the deep pipeline of market-ready technology solutions, made its acquisition a strategic imperative. As the largest Cannabis security and transport firm in the nation, Helix TCS’ clients will benefit from Cannabase’s wholesale marketplace, data services and archives, as well as its unique suite of interactive features. This supports our mission to provide a compliant, integrated operating solution to clients,” explains Zachary Venegas, CEO of Helix TCS.
Jennifer Beck, Cannabase co-founder and Managing Director, explains: “The partnership with Helix TCS will help Cannabase offer fully integrated sales and delivery options to Cannabase’s client base, while Helix TCS’ strategic partnerships act as force multipliers for Cannabase’s existing and soon to be announced technology solutions. We’re incredibly excited to partner with Mr. Venegas and the Helix TCS team, whose deep experience in frontier markets, venture capital and competitive intelligence will accelerate our shared goals of creating powerful integrated solutions for the emerging cannabis market.”
Cannabase, a platform designed in 2013 to provide seed-to-sale marketing and sales tools to the emerging cannabis industry, today represents over 72% of all cannabis licenses in Colorado. As a subsidiary of Helix TCS, Cannabase will continue to fulfill its mission of helping licensed cannabis businesses buy and sell wholesale product more efficiently and with less risk, ensuring a higher return on investment throughout all stages of the supply chain.
As the oldest, largest, and most liquid cannabis exchange on the market, “Cannabase’s recent strong financial performance mirrors Helix TCS’ financial performance, driving value for investors,” Ms. Beck explains, “and we’re looking forward to continued growth and success as we continue to improve the availability of actionable data, interactive advertising tools, and robust inventory control solutions for the legal cannabis industry.”
Cannabase, which will continue to operate under that name, is now a wholly owned subsidiary of Helix TCS.