- Lift & Co. (LIFT) has announced the results of its Cannabis Business Conference and Expo, held on January 9 to 11
- The event saw increases in both exhibitors and revenue over last year’s event
- Lift & Co. Cannabis Business Conference and Expo Toronto 2020 will take place from May 28 to 31
- Shares in the company are currently trading at 6 cents, with a market cap of C$4.21 million
Lift & Co. (LIFT) has revealed the results of its fourth-annual Lift & Co. Cannabis Business Conference (LCBC) and Expo Vancouver.
The event took place over took place over three days, from January 9 to 11, 2020.
As Canada enters its second year of legalization – ‘Cannabis 2.0’ – the country’s first major event of 2020 saw significant increases across the board over last year’s expo.
Key to the success of this year’s event was the streamlining of the weekend’s affairs into one Industry Day and one Consumer Day – a change designed to provide more targeted programming for each attendee segment.
The total number of exhibitors at the expo rose 15 per cent to over 300 booths that covered 162,000 square feet of the Vancouver Convention Centre, as well as more than 120 leading speakers from Canada and around the world.
Total revenue was also up 14 per cent to C$2,574,832, with operating margins expected to be in the historical range of 40-50 per cent.
With new cannabis product formats expected to be a significant catalyst for the growth of the industry and estimated to bring in more than C$2.5 billion annually, the LCBC and Expo weekend is considered to be an essential launchpad for new products.
Among the brands that leveraged the weekend to reach early consumers are Haven St., which introduced its new line-up of premium infused teas; and TOQi, which revealed the industry’s first wireless charging vape pen.
“The increase in both exhibitors and revenue this year in particular demonstrates the value of the Lift & Co. events platform in the cannabis industry. We’re proud to see this continued growth in our events business, especially during a time when overall growth in the market didn’t always meet expectations,” said Matei Olaru, CEO of Lift & Co.
“As we look ahead to a brand-new year in the industry, this Vancouver conference and tradeshow illuminated a vibrant future filled with opportunity, making it a must-attend event for investors, professionals and consumers now and in the future.”
At its expo booth, Lift & Co. also unveiled an early version of its new app, which will allow consumers and ‘budtenders’ to take a photo of a package label for immediate access to thousands of cannabis product reviews.
Following a purchase, consumers can also upload an image of their receipt via the app to receive Lift Points, which can then be exchanged for a variety of rewards.
The flagship Lift & Co. Cannabis Business Conference and Expo Toronto 2020 will take place from May 28 to 31.
Lift & Co. shares are currently trading at 6 cents, with a market cap of C$4.21 million.