SEATTLE, WA–(Marketwired – Apr 12, 2017) – CFN Media Group, the leading creative agency and digital media network dedicated to legal cannabis, announces publication of an article discussing Platinex Inc.’s (CSE: PTX) goal of creating shareholder value through opportunistic acquisitions in both cannabis and mining.
Platinex is developing the world’s first online cannabis shopping mall — Cannabismall.shop — in an effort to capitalize on the Canada’s burgeoning cannabis industry. The company is working with top-tier information technology firms and consultants to build out the e-commerce project that is expected to launch over the coming months. While many companies are focused on obtaining cultivation licenses, the company’s management team believes that there’s a much larger opportunity in becoming a leading online destination for consumers to purchase legal equipment — such as vaporizers, grinders or soil enhancers and security systems.
Canada’s cannabis industry is expected to reach $12.7 to $22.6 billion in size over the coming years, according to Deloitte analysts. The base retail market could be worth as much as $8.7 billion per year, while cultivators, infused product makers, testing labs, and security firms could realize the balance of the market size. These estimates don’t include ancillary markets — such as consumer products or paraphernalia — that could make the market even larger.
Additional Opportunity in Mining
Platinex also offers investors an opportunity in the mining sector through its Shining Tree and other gold and platinum assets located throughout Canada. With an experienced management team at the helm, the company is well-positioned to continue executing on these projects and build long-term value for shareholders.
Platinex President & CEO James R. Trusler has over 50 years of experience in Canada’s mining and exploration industry. In the 1980s, Mr. Trusler was instrumental in Teck Resources Ltd.’s acquisition of a gold prospect in the Hemlo area of Ontario. The area eventually included two of Canada’s largest gold mines that contributed up to 60% of Teck’s operating profits from 1985 until it sold the interest in 2009 and facilitated its growth into a major.
In 1998, Mr. Trusler founded Platinex, assembled an operating team, and raised $4.2 million to take the company public on the TSX Venture exchange. The company faced several challenges since then, including First Nation blockades and litigation, but raised a further $6.8 million and reached a settlement with Ontario that involved $5.3 million and a 2.5% Net Smelter Royalty on its former Big Trout Lake property — an unprecedented win for shareholders.
The company has since focused on executing an aggressive acquisition and exploration program on its Shining Tree property. After a four-year hiatus, the company commenced a resource valuation of the Herrick gold deposit to establish a NI 43-101 compliant resource including consideration of an open pit. The company has drilled over 50 holes that have returned good gold values and over a 400m strike length and 300m depth.
Please follow the link to read the full article: http://www.cannabisfn.com/platinex-developing-cannabis-destination/
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About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the U.S. and Canada rely on CFN Media to grow and succeed.
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.
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