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Alchemist aims to use technology solutions to solve the growing needs of the cannabis industry

Snapshot

Now known as Alchemist Inc, the company's goal is to be a global provider of technology solutions for the cannabis sector

cannabis oil cbd pot leaf

Quick facts: Alchemist Inc

Price: 0.055 CAD

CSE:AMS
Market: CSE
Market Cap: $2.15 m
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  • Cannabis technology firm with a goal to provide reliable tech solutions that seamlessly integrate into existing processes
  • Oddysee, which automates city and state license applications for California cannabis business operators set to roll out in 2019
  • The platform has grown to a "complete cannabis technology platform" that's set to include a knowledge database with a cannabis educational component
  • Going global with initial entrance into the Asian market, specifically China.

What Alchemist does:

Alchemist Inc (CSE:AMS) is aiming to be a global provider of technology solutions to the cannabis sector.

The Vancouver-based company is primarily focused on investing and building its portfolio of businesses in the developing global cannabis market through acquisitions, incubations and investments.

Alchemist’s goal is to provide reliable tech solutions that seamlessly integrate into existing processes, with an aim to make businesses more efficient and profitable. One of it's flagship projects is Oddysee, an SaaS platform that focuses on automation for city and state license applications for California cannabis business operators. 

Beyond that, the platform has grown to a "complete cannabis technology platform" that is set to include a knowledge database with a cannabis educational component.

How it is doing:

It has been a busy few months for Alchemist as it puts its rebranding plan into action.

In August, the company announced plans to change its name to Alchemist Holdings Inc and trade under the ticker symbol 'ALH' as it redefines itself as a technology solutions provider for the cannabis sector.

It also tapped cannabis industry veteran Zeta Ceti to join its board of directors.

Ceti has more than 25 years of experience within multiple industry segments. As the founder CEO of cannabis consulting firm, Green Rush Consulting, Ceti and his team have a track record of scoring more than 100 cannabis licenses across the US.

Early in September, the company received conditional approval from the Canadian Securities Exchange for its change of business.

Alchemist also named Johnson Lee as vice president of business development for Asia Pacific. Based in Beijing, Lee is a seasoned management leader with over 30 years of business experience, the company said in a statement. 

On the financing front, Alchemist stands to receive a C$3.5 million injection from a real estate investment company. 

Pedro Villagran-Garcia, CEO of Dinatrum/Alumifuel Power Corporation (OTCMKTS:AFPW) made the investment proposal to Alchemist. According to Dinatrum, Alchemist will issue 14 million post-consolidation shares at C$0.25 per unit. Each unit consists of one share and one warrant exercisable at C$0.60 with a two-year expiration.

Inflection points:

  • Final approval of name change and new ticker symbol
  • Market penetration in Asia, specifically China
  • Completion of Oddysee rollout

What the boss says:

“CBD is a product that in Korea and other markets has just taken off,” Alchemist CEO Paul Mann told Proactive in a recent interview.

“The market size is astronomical. I believe that if we take our position today, we will be at the forefront of exporting North American goods into that marketplace.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Watch

Full interview: Alchemist sees big market in China for medical cannabis sales

Alchemist (CSE: AMS) CEO Paul Mann and Vice President of Business Development, Asia Pacific Johnson Lee joined Steve Darling from Proactive Vancouver to discuss Alchemist looking for opportunities for cannabis in the emerging cannabis market.  Mann and Lee talk about what the industry...

4 weeks, 1 day ago

3 min read