NICI Quick Take
ManifestSeven is a California-based company operating in the retail storefront, delivery, and distribution sectors of the cannabis industry, in addition to wholesale and retail sale of ancillary products. The company’s aim is to build a “cannabis highway” – a licensed logistics network spanning the state of California and eventually expanding across the country.
Essentially, Manifest wants to become the single access point across all available commercial platforms for cannabis and ancillary products. Manifest’s retail marketplace launched in August 2019 under the name “Weden”, which combines the company’s e-commerce, storefront, delivery and call center services into a singular, customer facing identity. In January 2020, Manifest announced it would acquire Lady Chatterley Health, a San Francisco-based legal cannabis delivery service with a focus on high-end women’s products. This, along with a dispensary purchased in Santa Ana, California, will be integrated into Weden, and the Lady Chatterley acquisition grants Manifest direct entry into the San Francisco market.
The company was seeking a CSE listing through a reverse-takeover by P&P Ventures Inc, but has missed the deadline without any word. If it decides to list, the company expects a revenue run-rate of at least US$60 million.