Investment in cannabis has no borders, and cannabis companies like World High Life PLC (NEX: LIFE), GreenStar Biosciences Corp. (CSE: GSTR) and Veritas Farms Inc. (OTC: VFRMD) prove it
As the cannabis business develops, investors are establishing new frontiers and expand to new markets. These include the U.S., Europe and South American countries, such as Colombia that recently hosted the first medical cannabis investment summit in Latin America.
The Cannabis Summit that took place on September 12-13 in Bogota, seeked to raise investments of 20-40 million dollars and invited 150 investors and 70 businessmen.
This is not the first time that multimillion-dollar medical cannabis businesses have been made in Colombia. Just in March this year, an analysis was published about how this industry moves in the country. The analysis presented Plantmedco, a national company that attracted the attention of foreign investors, who were willing to inject a juicy capital close to US$40 million.
Hence, the estimate of 20 or 40 million dollars that were expected to be raised in investment during the summit in Bogota is not something new. What is news is that investors The Arcview Group and Muisca Capital Group presented the event as the first medical cannabis investment summit in Latin America, the “Cannabiz Latino Hub – Impact Investment Summit & B2B Expo”.
Thus, Bogotá consolidates itself as the first city in Latin America to hold such a summit. According to Muisca Capital Group CEO Carol Ortega, this translates into an opportunity for the region to consolidate a venture capital community that will help propel Latin legal cannabis companies to the next level, allowing them to compete internationally.
Figures managed by Muisca Capital Group show that by 2028 this industry is expected to reach 13 billion dollars, and that by 2019 its growth in the world market will increase by 38%.
“The positive socio economic impact that the legal cannabis industry is bringing to Latin America is undeniable and we are pleased to help the region move forward by connecting global capital with business opportunities,” said Troy Dayton, CEO of investor group The Arcview Group.
Data collected by El Espectador, according to advanced talks with companies immersed in this business, show that the medical cannabis industry can generate jobs where the lowest paid employee receives about $1,200,000 per month. Added to the above, it is estimated that a single hectare of cultivation can generate between US$3 and US$8 million.
Investments in Europe
Latin America is not the only region targeted by cannabis investors. Some companies decided to target Europe, as it is another market with a huge potential, estimated to be worth 58 billion euro by 2029.
An investment company World High Live PLC (NEX: LIFE) recently made news in the UK by announcing the proposal to acquire all shares of Love Hemp in a deal valued at 9 million GBP. Love Hemp is the British CBD leader. The company has their products available at over 1,200 retailers in the country, on top of the agreements they have with big network stores like Boots, Sainsbury’s, Tesco or Superdrug.
World High Life wants to be a part of the CBD and medicinal cannabis business developing in Europe. With Love Hemp, they are planning to enter Germany in 2020 and expand further from there, adding other promising cannabis companies to their portfolio.
The U.S. market is investors’ target
Even the U.S. is a market with an unfulfilled potential for investments in cannabis. Canadian companies, such as GreenStar Biosciences Corp. (CSE: GSTR), are executing the plan to enter the American market through the acquisition or partnership agreements with local cannabis enterprises. GreenStar has even made it their core business strategy, to build a diverse portfolio of top, most promising North American companies touching on every aspect of the product life cycle.
Cowlitz is a Washington state-based producer and distributor of cannabis products for recreational use, and a tenant partner company of GreenStar. They are a leader in their state, as no other company produces cannabis with high quality, high THC level and at affordable prices. Cowlitz regularly records a quarterly revenue of $4 million and at the end of last year reported a revenue of $14.6 million.
Washington state is one of the 13 U.S. states where trading recreational cannabis is legal. Another one where marijuana business is blooming is Colorado which attracts a lot of investment. Veritas Farms Inc. (OTC: VFRMD) has their corporate headquarters in Lauderdale, Florida, but decided to base a 140-acre industrial hemp farm and manufacturing facility in Pueblo, Colorado. The company produces eight categories of high quality hemp oil products. Their focus on honesty, transparency and proven quality pays off and brings tremendous results. Veritas Farms, which was established in 2015, generated more than $2.9 million in total revenue in the second quarter of 2019, that is a 500% increase year on year. Their gross profits skyrocketed by almost 800% to $1,523,413.
Looking at the success of their products, the company is in the process of expanding their billboard and large poster campaign to five new cities: Atlanta, Dallas, Houston, Denver, and Colorado Springs. The campaign will last three months, until December 29.
As the medicinal and recreational cannabis markets grow in North America, South America and Europe, it becomes clear that we are witnessing the emergence of a new global industry. It will be interesting to see how the companies that took first steps into becoming world key cannabis players, succeed.
Outsourcing Front-End Development Services: Insider’s Guide
Outsourcing front-end development services has become increasingly popular in recent years as companies look to access specialized skills and expertise, and save on labor costs. According to the Global Outsourcing Survey made by Deloitte, the top reasons for outsourcing front-end development are to access specialized skills (57%), cost savings (50%), and to free up internal resources (49%).
This article will cover some frequently asked questions (FAQs) in a Q&A way to help you make an informed decision when considering outsourcing front-end development services. We’ll address concerns such as how to find the right vendor, how to communicate effectively, and how to manage the project to ensure success. By the end of this article, you’ll have a better understanding of the considerations and best practices for outsourcing front-end development services.
What is front-end development?
Front-end development, or client-side development, refers to designing and implementing a website’s or application’s user interface (UI). It involves creating the layout, visual design, and interactive features that users interact with when they visit a website or use an app.
Front-end development plays a crucial role in the user experience of a website or application, and it’s an essential part of any digital product. The work of a front-end developer often intersects with that of a UX designer and a back-end developer.
Why should I consider outsourcing front-end development services?
As mentioned in the intro, there are several reasons why outsourcing front-end development services may be an excellent option for your company. One of the main reasons is cost savings. Outsourcing is often more cost-effective than hiring in-house developers, especially if you only need front-end development services for a specific project.
Also, a company can benefit from a vendor’s specialized skills and experience and the ability to scale its development resources as needed. This can be especially useful for companies with fluctuating project demands or in need to quickly ramp up or down their development efforts.
In addition, outsourcing front-end development can allow a company to focus on its core competencies and improve the overall quality of the product, as well as save time by delegating the development work to a vendor.
How do I find the right front-end development company to work with?
Finding the right front-end development company to work with is crucial for a successful project. Start by defining your project goals, timelines, and budget, and research potential vendors with experience in the technologies and frameworks relevant to your project.
Review the company’s portfolio and case studies to get a sense of their past work and the types of projects they have experience with. Glassdoor, Trustpilot, LinkedIn, GoodFirms or Clutch are some platforms to do this. Consider the company’s culture and values. You can also request references and speak with past clients to get an idea of the company’s track record and how well they handle challenges like yours.
What should I consider when choosing a front-end development company?
There are several factors to consider when choosing a front-end development company. Technical skills and experience are crucial, as the company will be responsible for building and implementing the UI of your website or application. Check if the company has experience with the technologies and frameworks you need for your project.
Effective communication and collaboration are also essential. Verify that the vendor has a track record of working well with clients and can effectively communicate and collaborate with your team. Cultural fit is also important, as you will be working closely with the vendor for the duration of the project. It’s a good idea to have a face-to-face or video call meeting to get a sense of the company’s culture and see if it aligns with your own.
Finally, consider the company’s pricing and business model. Make sure the company is transparent about its rates and fees and that they align with your budget. Also, consider whether the company offers flexible pricing options or packages that may be more suitable for your needs.
Once you’ve narrowed down your options, it’s a good idea to request proposals from a few different vendors. This will allow you to compare and contrast their approaches and determine the best fit for your project.
Bringing it all together
In summary, outsourcing front-end development services can be an easy, cost-effective, and efficient way to access specialized skills and expertise. By carefully considering factors such as technical skills, communication and collaboration abilities, cultural fit, pricing, and business model, you can find the right vendor to meet your needs and achieve success with your project.
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