Helix Technologies (OTC: HLIX) announced this week its international expansion into the Netherlands and South Africa with the addition of cultivation and processing clients in the two countries.
The expansion serves as a reminder of the growing prevalence and acceptance of cannabis around the world, underpinning the growth potential, even as cannabis stocks struggle to recover from the 2019 selloff.
The Netherlands, which has long been known for “cafés" in Amsterdam, is moving away from a tacitly accepted grey market and into a modern, regulated cannabis industry, explained Steve Flaks, Global Head of Sales. And, with many countries in Africa beginning to develop cannabis programs, South Africa is the tip of the iceberg for the emerging market.
“As the industry grows, we're seeing an increasing sophisticated brand of operators who are concerned with maintaining compliance and cyber security. When they do their research, our track record, deep industry knowledge, and first in class security measures, including the industry's first SOC 2 Type II audit, make us the clear choice,” Flaks said.
Lead image by Ilona Szentivanyi. Copyright: Benzinga