C21 has a projected annual revenue of $70M USD – almost that of Canopy Growth ($30.9), Tilray ($20M) and Aurora ($31.9M) combined and they are about to start trading in the US.
Bill Griffin, 24 September 2018
C21 Investments are one of the best kept secrets of the emerging cannabis industry. Michael Kraland, of Cannabis Capital Convention, caught up with Robert Cheney, CEO of C21 on Sunday 23 September in Amsterdam.
C21 Investments are a vertically integrated cannabis company building an impressive portfolio of brands in Canada and the US and is one of the largest CBD companies in the world.
Cheney’s in Amsterdam attending and speaking at Cannabis Capital Convention, “to meet shareholders, investors and potential new investors to tell people about the opportunity of C21 to participate in the cannabis and CBD industry. With a company that has not only scaled with many brands and products but is also one of the very few profitable companies in the industry.”
C21’s current market cap is a little under $55 million. By all accounts there is impressive room for growth. Especially, when you consider that Tilray, a company with just over $20 million in sales can be worth $12-15 billion. Cheney offered some thoughts on that, “What you’ve had over the last few months is a gigantic short squeeze because they have no revenue they just have a bunch of news releases.”
“If you follow the logic our company is worth a lot more, we’ve 70M (CAD) in top line revenue $23M in EBITDA [Earnings Before Interest, Taxes, Depreciation and Amortization]. We’re an unheard story and that’s why we are here at the Amsterdam Cannabis [Capital] Conference. To tell investors about the opportunity in C21. It’s a story that needs to get out and when we start trading in the United States in 10 days a lot more investors are going to be coming in and supporting C21.”
[Update 24 September: C21 Investments registers common shares for trading in the United States]
Kraland asked why “Big Alcohol” is so interested into moving into the cannabis industry, “When you look at the markets that have legalized recreational cannabis like British Columbia, Oregon, Ottawa (where we are) and California. What you’ll see is, statistically, alcohol companies lose 30% revenues very quickly and when you look to the future they are going to lose even more revenue. So it’s the alcohol companies that are under pressure and they need to move. They are also companies that understand a regulated market and understand packaged consumer products and that’s really what cannabis is all about. The new cannabis consumer is looking for a convenient packaged product and that’s where C21 is gonna be with our 15 brands and our 150 products.” says Cheney.
The future is definitely bright for C21. “We’ve got Bruce Campbell of Stone Castle buying our stock, he’s building a position, Miles Clyne (Tycuda) is gonna build a position,” says Cheney, “We’ve got a lot of great investors, so better days ahead.”
C21 CEO, Robert Cheney will be speaking at Cannabis Capital Convention this week in Amsterdam – register now. For the latest cannabis investment news, updates and scoops you can follow us on Twitter @CanCapConv.
Cannabis Capital Convention
The Cannabis Capital Convention is inviting key players from the cannabis industry to their conference which takes place on 26 September in Amsterdam.
The Cannabis Capital Convention is committed to growth in the cannabis market. Big names from the cannabis industry will meet to inform professional and private investors on the latest developments.
The convention has CEOs and spokespersons from companies including C21 Investments, Canaccord, Bedrocan, The Green Organic Dutchman, Prohibition Partners, Cannabis Industry Europe, Grön Chocolate, Phytonext and more.
Register now (limited tickets left)
For collaborations, contact the Cannabis Capital Convention team via firstname.lastname@example.org