LimeLight of The week is

Prime Harvest Inc.

Prime Harvest Inc., based in San Diego, California, is a technology-focused, full-service cannabis company with horizontally diversified operations spanning various segments of the cannabis value chain, from licensing acquisition and compliance management to direct-to-consumer operations. The company is leveraging a long-term strategy of investing in the growth and scale of licensed assets anchored by the power of data-driven technology to expand its footprint throughout California.

Sustainability is key to Prime Harvest’s corporate vision. The company aims to ensure that the communities it serves capture their fair share of the fruits of the industry’s growth, including financial profit, employment opportunities, environmental enrichment and impactful innovation through R&D and education.

The company’s mission is to appeal to the ethos of the cannabis consumer by setting a new operational standard emphasizing accountability, sustainability and community. With this commitment, Prime Harvest continues to work toward positively affecting millions of lives through the creation of a world-class platform that caters to strengthening the commercial cannabis pipeline.

Jaxx Cannabis

Jaxx Cannabis is the flagship brand in Prime Harvest’s portfolio. Through Jaxx Cannabis, the company aims to use technology to facilitate a true customer-centric culture while enhancing the overall craft cannabis experience. Jaxx features an expertly curated selection of premium products from some of the most respected brands in the thriving California market.

Key values serving as the foundation of Jaxx Cannabis include:

• Creating and nurturing a welcoming culture for all
• Unlocking the true potential of customer value
• Being innovative in uncovering new ways to grow both the company and the industry
• Meeting the wants and needs of consumers to promote profitability
• Remaining accountable for the results of its operations

It is these values that differentiate Prime Harvest and Jaxx Cannabis in the California cannabis sector.

Brand Partnerships

Prime Harvest works diligently to establish strong alliances with complementary brands that are in alignment with its culture and values. Through a combination of deliberate foresight and strategic action, the company seeks to grow existing cannabis brands and continuously discover new, high-potential performers that are primed for long-term success.

These partnerships enhance Prime Harvest’s efforts to transform the world’s cannabis access and bring its consumers high-quality products that are fair for both people and the planet.

Investment Considerations

• Cannabis Strategic Ventures’ 2020 revenue jumped 517% year-over-year to $14.6 million.
• 2020 revenues from cannabis sales were $14.1 million, up 975% compared to fiscal 2019.
• The company’s gross profit spiked 483% year-over-year, reaching $2.78 million in 2020, while gross margins held steady at about 20 percent.
• Cannabis Strategic Ventures will launch its first Los Angeles dispensary in Q4 2021.
• The company will open an indoor cultivation facility with capacity to produce up to 15,000 pounds of premium cannabis flower annually.

Recent Coverage

InvestorNewsBreaks – Prime Harvest Inc. Subsidiary Receives Adult-Use Edibles Sales, Expansion Rights
 

Prime Harvest, a legal cannabis company focused on tech and parent company to Jaxx Cannabis, has been granted expansion rights of adult-use edibles sales through Jaxx. According to the announcement, Jaxx is Prime Harvest’s flagship retail brand and is driving strong growth for the company, reporting $4 million in sales last year alone. Through Jaxx, which only offers products that are licensed and regulated by California and San Diego County, consumers can order online 24/7 or purchase in a brick-and-mortar retail store and be assured that they are receiving the highest-quality products available. Jaxx offers a diverse array of products selected to create an experience focused and centered on consumers. The company everything from flower, pre-rolls, edibles and topicals to a complete line of accessories, including everything from bowls and spoons to entire starter kits and more. Prime Harvest is working to expand its footprint by investing in the growth and scale of licensed assets combined with fully utilizing the power of data-driven technology. Prime Harvest is focused on ensuring that the communities it serves see their fair share of the benefits of the industry’s growth, including employment opportunities, environmental enrichment and impactful innovation through R&D and education. “We are excited to expand and participate in the adult-use market, and even more than excited to expand our menu to include cannabis infused edibles for both our current medical patients as well as the recreational consumer,” said Prime Harvest founder and CEO Duane Alexander in the press release. “With the systems in place to drive our retail expansion, we are well on our way to execute on our strategically-designed plan for sustainable growth.”

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