CFN Media Interviews David Hyde, President of 3 Sixty Secure, A Leading Cannabis Consulting Firm
Ryan Allway
January 31st, 2019
Exclusive, News, Top Story
Canada’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of adult-use cannabis last year. While the country is home to the world’s most mature cannabis market, Health Canada regulations continue to evolve and licensed producers require guidance to ensure that they’re both compliant with current regulations and prepared for future regulations.
CFN Media recently caught up with 3 Sixty Secure Corp.(CSE: SAFE) President David Hyde at the 2019 Lift Expo in Vancouver to discuss how the David Hyde & Associates merger impacted the company and its future.
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A Rapidly Evolving Industry
Canada became the first G7 nation to legalize cannabis with the Marihuana for Medical Purposes Regulations (MMPR) in 2013. Since then, the country replaced those regulations and expanded them to include adult-use cannabis in the Cannabis Act in 2018. These regulations will continue to evolve in 2019 to accommodate cannabis edibles and concentrates, which introduce new compliance requirements to ensure safety.
These rapidly evolving regulations are challenging for licensed producers. While Health Canada has only a handful of requirements, these are descriptions more than prescriptions—they can be interpreted in different ways. Licensed producers must navigate these regulations correctly to procure and maintain licenses that they require to operate, while simultaneously ensuring that their products are safe and efficacious.
In addition to these regulations, licensed producers must grapple with business risk, governance issues, corporate responsibility, cybersecurity, business continuity, personnel security, and other issues that aren’t addressed by Health Canada’s minimum requirements. As the industry matures, all of these things must be done in a cost-effective manner to maintain a robust balance sheet with minimal shareholder risk.
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Ensuring Ongoing Compliance
David Hyde & Associates has more than 30 years of experience in providing private security, but more importantly, they have been consulting with the cannabis industry since 2013. Over the past six years, they have worked with more than half of licensed producers and more than 450 applications, providing them with significant industry experience. There are few others with the breadth and depth of knowledge when it comes to licensing in Canada.
In addition to helping meet minimum requirements, the company offers insights into upcoming regulations and critical non-regulatory issues. They have a good idea of what’s coming ahead with edibles and concentrates regulations, where well-prepared LPs could have a significant first-mover advantage. They also help with emerging issues like governance and corporate responsibility, which can be difficult for newly public companies.
The combination of secure transport, security guard services, and monitoring, and end-to-end consulting services makes the combined company a one-stop shop for aspiring and existing licensed producers. Those looking to secure a license know they’re getting unparalleled experience and advice, while those looking to maintain their license or expand into new areas can rely on the company’s expertise to guide their actions.
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Looking Ahead
3 Sixty Secure Corp.(CSE: SAFE) has expanded well-beyond secure transport, guard services, and monitoring with the acquisition of David Hyde & Associates. The combined entity provide end-to-end services for the cannabis industry with a client list that spans most licensed producers and countless aspiring licensed producers. Investors may want to take a look at the company as it continues to establish itself as a cannabis consulting leader.
For more information, visit the company’s website at www.3sixtysecure.com.
Disclaimer
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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