Helix Technologies Sells Security Guarding Business

COLORADO: Helix Technologies announced today the divestiture of its security guarding business. The strategic decision to sell the guarding unit solidifies Helix’s transition into a pure play technology company focused on the cannabis industry.

The divestiture of the guarding business is expected to increase gross margins and allow management to focus on growing the Company’s scalable, high margin suite of critical technology infrastructure services. Denver-based, Veteran-owned Invicta Group purchased the business and Security ProAdvisors LLC represented Helix in the sale. Helix will use the net proceeds to pay off existing liabilities and strengthen its working capital position.

“We are incredibly proud of what we have accomplished with Helix Security. In a short time, we went from start-up–without a single client– to the undisputed leader in the Colorado security market, clearing the field of well-established, larger competitors, and leveraged that dominant position to expand into higher-margin critical technology infrastructure, and data. Now we will continue to bring that same discipline to bear – focused solely on our core technology strengths and on creating a more streamlined value proposition for investors” said Zachary L. Venegas, Helix Technologies’ Executive Chairman and CEO. “The additional working capital and narrowed focus provided by the divestiture will allow us to accelerate growth and continue shaping the cannabis technology landscape.”

Paul Ballenger, Invicta Group CEO added “This is a tremendous opportunity for us and our investors. Helix built a dominant business, and I could not be more excited to leverage our expertise to continue the rapid growth. Recent social unrest has underlined the need for this type of service, and I am excited to help our clients continue to grow while feeling safe and confident in their future.”

Done Deal: Helix TCS And BioTrackTHC

COLORADO: Helix TCS, in conjunction with its strategic capital partner, Rose Capital, completed the closing of its merger with BioTrackTHC on June 1st.  Zachary L. Venegas will continue as the CEO of Helix TCS, and will assume the role of Executive Chairman for the combined company.  Patrick Vo will continue as CEO of BioTrack.

“The closing of this merger is a landmark event for Helix and BioTrack from a strategic and operational perspective. As a combined company, we are unique in the industry in serving virtually every segment of the market – whether it is compliance software through BioTrack, the wholesale marketplace through Cannabase, security, transport, or cash services through Helix, or the advisory that we can provide customers due to our data infrastructure.  We continue to support our clients in whatever challenges they face in becoming safer, stronger, and more profitable, whether they operate in the U.S. or internationally.  At the same time, investors will see margin improvement as reporting and administrative costs are spread across a much larger revenue base and costs are rationalized.

“As a combined company with $12MM in 2017 revenue, we will continue to generate greater value for clients and shareholders. Helix’s unrelenting focus on strategy and disciplined execution will allow Biotrack to further harness the spirit that made it a market pioneer, with significant market share in government, dispensary, and grow segments of the seed to sale market, and translate that spirit into renewed technological innovation and leadership.

“This transaction represents the next step in our evolution as a market leader.  It is also another milestone achieved by using our team’s deep experience in strategy, entrepreneurship, M&A, and frontier markets to build a world-class company,” stated Mr. Venegas.

Canadian Provincial Government Taps Spire Secure Logistics

CANADA: Vancouver-based Friday Night Inc. announced today that its subsidiary, Spire Secure Logistics, is providing strategic advice and expertise to a Canadian provincial government for the design and implementation of security programs and infrastructure for the legal distribution and sale of cannabis.

Spire is a leading provider of security consultation for the legal cannabis industry and has worked closely with both government and licensed producers to design and build security programs and solutions for the sector.  The Company will be working with the provincial government to implement program system protocols for both retail and online sales of cannabis, focusing on the prevention of organized crime infiltration and black market diversion.

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Spire’s team of industry experts have amassed more than 50 years’ combined experience in regional, national and international policing and security consultation in a variety of fields.  Most recently, Kevin Mead has been appointed Chief Administration Officer and Director International Programs at Spire. A 23-year career veteran of the Canadian Army, Mead served across the country and internationally in numerous command, training and senior staff positions at the tactical, operational and strategic levels. Mr. Mead transitioned as a Commanding Officer of a Canadian Forces Detachment to the BC Ministry of Labour, as an Industrial Relations Officer responsible for legislative compliance and enforcement. Most recently, Mr. Mead served as VP Operations in a private manufacturing firm in the security and defense industry.

Mr. Andrew Richards, CEO of Spire, commented, “We are pleased to be developing secure and compliant strategies and programs as Canadian provinces and cities begin to implement legal cannabis distribution and sales.” He added, “We welcome Kevin to Spire. His expertise in leading inter-agency and multi-disciplinary teams in complex high-risk operations and program delivery is an asset to the team.”