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Interview with Robert. Discusses wrapping up the pilot.
https://www.proactiveinvestors.com/companies/news/907584/trutrace-strikes-partnership-with-clever-leaves-for-strainsecure-platform-907584.html
This is great news. TruTrace just keeps growing. I feel lucky to be here at the start of this Company. It only gets better from here.
TruTrace Technologies signs Clever Leaves to Cannabis Validation Testing Program
7:00 AM ET 11/19/19 | Dow Jones
November 19, 2019 -- (TruTrace Technologies) --
(TheNewswire)Toronto - TheNewswire -November 19, 2019 - TruTrace Technologies Inc. (CNSX:TTT.CN) (OTC:TTTSF) ("TruTrace" or the "Company"), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, and Clever Leaves, a leading vertically-integrated global company and fully licensed producer of pharmaceutical-grade medical cannabis and hemp extracts, announced today that Clever Leaves has joined TruTrace's StrainSecure(TM) platform to bring standardization and product validation into its international distribution strategy.
The StrainSecure platform allows partner laboratories to collect plant testing data and perform genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
The StrainSecure(TM) platform will collect, register, manage, track and publish verified testing data of Clever Leaves' cannabis plant DNA and strains, including prospective shipments into the Canadian market. The platform will enable Clever Leaves to validate its medical cannabis strains and provide its customers with increased transparency about the authenticity, quality and origin of its products.
"Our Genome-to-Sale(TM) software continues to gain traction as industry stakeholders increasingly recognize the critical importance of being able to provide account for the origin and quality of cannabis products," said TruTrace Technologies CEO Robert Galarza. "Clever Leaves is on track to become a major international supplier, and we are pleased to provide our full support of their initiatives at this early stage of their expected growth."
"We are committed to establishing full transparency and traceability of our strains. This is especially important for medical cannabis, where clinical outcomes and research conclusions are dependent on a level of consistency that can only come from being able to track a product's origin; the TruTrace platform is uniquely capable of providing this assurance," said Andres Fajardo, President of Clever Leaves. "We look forward to working with TruTrace and Shoppers Drug Mart on this initiative as we pursue our goal of becoming the largest medical cannabis company in the world." In February 2019, Clever Leaves became the first company authorized by Health Canada to import cannabis from Colombia into Canada.
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.
About Clever Leaves:
Clever Leaves is a multi-national cannabis company operating in compliance with federal and state laws, with an emphasis on ecologically sustainable, large-scale cultivation and processing as the cornerstone of building out distribution and brands. Clever Leaves is a leading vertically integrated producer of medical cannabis and hemp extracts and is currently cultivating over 1.5 million square feet of greenhouses under Good Agricultural and Collection Practices (GACP) in Colombia, with expected expansion to 2.3 million square feet by the end of 2019 and the goal of reaching 10 million square feet by 2021. Clever Leaves obtained its Good Manufacturing Practices (GMP) certification from INVIMA, Colombia's food and drug regulatory agency, after inspection of its top-of-the-line extraction facility and is in the process of being certified with European Good Manufacturing Practices (EU GMP). Clever Leaves' first extraction facility is capable of extracting 24,000 kilograms of dried flower currently, with expansion underway to increase expected extraction capacity to 324,000 kilograms of dried flower per year by mid-2020. Clever Leaves is also expanding its cultivation and extraction capabilities to Portugal, where it currently owns over 9 million square feet of property with over 100,000 square feet of greenhouses and anticipates its first harvests in 2020. With offices in Canada, Colombia, Germany, Portugal, the United Kingdom and the United States, Clever Leaves is one of the world's largest hemp and medical cannabis producers.
For More Information:
Swapan Kakumanu
Chief Financial Officer, TruTrace Technologies
844-656-3629
swapan@trutrace.co
Diana Siguenza
Strategic Communications Director
+57 310-236-8830
diana.siguenza@cleverleaves.com
www.cleverleaves.com
Press contacts:
McKenna Miller
KCSA Strategic Communications
347.487.6197
Cleverleaves@kcsa.com
Disclaimer for Forward-Looking Information
This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of TruTrace, including statements regarding: the ability of theStrainSecure platform to bring standardization and product validation into Clever Leaves' international distribution strategy; that the StrainSecure tm platform will collect, register, manage, track and publish verified testing data of Clever Leaves' cannabis plant DNA and strains, including prospective shipments into the Canadian market;the ability of the StrainSecure platformto enable Clever Leaves to validate its medical cannabis strains and provide its customers with increased transparency about the authenticity, quality and origin of its products; that TruTrace's Genome-to-Sale(TM) software continues to gain traction as industry stakeholders increasingly recognize the critical importance of being able to provide account for the origin and quality of cannabis products; Clever Leaves' success in becoming a major international supplier and its expected growth; Clever Leaves' goal of becoming the largest medical cannabis company in the world; Clever Leaves' expected expansion to 2.3 million square feet by the end of 2019 and the goal of reaching 10 million square feet by 2021;Clever Leaves' planned expansion to increase its extraction capacity to 324,000 kilograms of dried flower annually by early next year; and Clever Leaves' anticipated first harvests in 2020. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct and actual results and future events could differ materially from those anticipated in such information. Forward-looking information necessarily involves known and unknown risks, including, without limitation, risks associated with: general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States, and elsewhere; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks beyond the Company's control. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release. Forward-looking information contained in this news release is provided as of the date of this news release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Copyright (c) 2019 TheNewswire - All rights reserved.
> Dow Jones Newswires
November 19, 2019 07:00 ET (12:00 GMT)
Last paragraph: "Harvest One Cannabis' fiscal 4Q delivers strong revenue boosted by consumer and medical segments"
https://www.proactiveinvestors.com/companies/news/905829/harvest-one-cannabis--fiscal-4q-delivers-strong-revenue-boosted-by-consumer-and-medical-segments-905829.html
For the three and 12 months ended June 30, 2019, the Vancouver company posted net revenues of $3 million and $11.5 million respectively
Harvest One Cannabis Inc - Harvest One Cannabis' fiscal 4Q delivers strong revenue boosted by consumer and medical segments
The Vancouver-based company’s subsidiary inked a supply agreement with Canada's largest retail pharmacy chain, Shoppers Drug Mart, to supply Satipharm branded medical cannabis products
Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) revealed Tuesday that its fiscal fourth-quarter saw strong revenue growth within its consumer and medical segments.
In a statement accompanying the global cannabis company’s latest numbers, Harvest One CEO Grant Froese said: "We are delighted with the company's progress throughout the fourth quarter and fiscal 2019 as we build a platform for long-term growth across all our segments.”
"In the fourth quarter, we showed strong revenue growth within our consumer and medical segments while our cultivation segment remained steady prior to adding the necessary scale through the expansions of our facilities,” he added.
READ: Harvest One Cannabis wins cultivation license for Mission Road facility on Vancouver Island
For the three and 12 months ended June 30, 2019, the company achieved net revenues of $3 million and $11.5 million, respectively, representing a 489% and 1,479% increase from the same periods in 2018.
Its products are sold in some 38,000 retail distribution points around the globe, including, Walmart US, CVS, Kroger, Shoppers Drug Mart, Loblaw, Holland & Barrett, and Boots.
“We have developed excellent and trusted relationships with our provincial partners ensuring a valuable route to market,” said Froese.
Inked key deals
“We have also made the necessary investments to ensure we are one of the first to market with derivative cannabis products following the recent legislation changes in Canada," he added.
The firm recently inked a deal to acquire 100% of the issued and outstanding common shares of Delivra Corp. Additionally, the Vancouver-based company’s subsidiary United Greeneries entered into a supply agreement with Canada's largest retail pharmacy chain, Shoppers Drug Mart, to supply Satipharm branded medical cannabis products.
"Our first quarter fiscal 2020 revenues look promising for growth across all our divisions, with the addition of new Satipharm wholesale agreements and the addition of Delivra revenue to our consumer segment,” pointed out Froese.
The company said that during the fiscal fourth quarter, it cemented an agreement to distribute Satipharm's proprietary 10 mg CBD GelPell capsules through Holland & Barrett, Europe's largest retailer of nutritional supplements and wellness products.
Harvest One serves as an umbrella over three wholly-owned subsidiaries: United Greeneries, which is a licensed cannabis producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.
In its statement, the company also said its consumer segment was growing steadily with Dream Water inking new agreements with major retailers across North America. It is currently available in over 30,000 stores.
“Although current capital market conditions remain challenging, the company remains focused on delivering on our strategic priorities and building a successful company for the long-term based on solid fundamentals," said Froese.
Cultivation segment
The company said United Greeneries remains on track to secure a capacity target of 20,000 kgs of premium flower in 2020.
There is construction work in progress at both the Mission Road and Lucky Lake facilities. In October 2019, United Greeneries received its cultivation licence for Phase 1 of the new Mission Road facility which, when fully completed, “will triple the production capacity in Duncan and increase operational efficiency,” said the company.
To boost supply, United Greeneries signed a cultivation agreement with Stevens Green that will provide additional supply while maintaining the quality associated with the Royal High brand.
“The first harvest is scheduled for this month which will immediately boost supply for provincial partners,” noted the company.
United Greeneries is one of three licensed producers to complete a pilot program with Shoppers Drug Mart and TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF), the medical cannabis verification company.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
Brief mention: "Blockchain Firm Partners With Cannabis Data App to Create Research Project"
https://cointelegraph.com/news/blockchain-firm-partners-with-cannabis-data-app-to-create-research-project
A blockchain-based data marketplace, Measure Protocol, and a cannabis-oriented survey rewards app, Broccoli, will jointly establish a research community for cannabis users.
According to a Nov. 12 press release, the companies will use the new community to survey consumers, collect data and make reports dedicated to cannabis use and the industry. In doing so, the parties intend to discuss the benefits of cannabis, debunk or prove myths surrounding it, and make the collected information available to the public.
Phillip Olla, co-CEO of Audacia Bioscience, the company that stands behind Broccoli, said that blockchain technology will enable the firms to collect data about cannabis use in a transparent and credible manner, which will help bring cannabis into the mainstream.
Blockchain implementation in the cannabis industry
Other cannabis industry stakeholders have been applying blockchain to different aspects of their business. In late September, decentralized application-focused blockchain Aeternity revealed that it will use blockchain to track the supply chain of Montevideo-based medical and recreational cannabis producer Uruguay Can.
Blockchain tracking startup TruTrace Technologies Inc. partnered with Big Four auditing firm Deloitte to track cannabis using blockchain technology. The system is set to employ the technology to track the plant from seed to sale, in order to guarantee that customers and retailers know the history of the product.
Also, Australian Securities Exchange-listed firm Security Matters filed a patent application in the United States for a blockchain system to securely manage the cannabis supply chain. The proposed system could be applied to mark, track and manage the supply chain for cannabis plants, products and cannabis-derived ingredients.
An update or two would be nice. Let us know they are still alive.
No big deal. At least I don't find it troubling. Good reason to buy more.
Little bit of an "ouch" here:
https://www.proactiveinvestors.com/companies/news/906768/na-proactive-news-snapshot-nemaura-medical-silvercorp-metals-seelos-therapeutics-electrameccanicavehicles--906768.html
Trutrace Technologies Inc (CVE:TTT) has worked out a deal to settle $30,000 in debt owed to a creditor in exchange for the issuance of 250,000 shares at a price of $0.12 per share. Half of the shares issued as part of this debt settlement will be subject to voluntary holding periods. Under this arrangement's terms, 41,666 shares will be released from escrow on November 15 and 41,667 shares on November 22. Lastly, 41,667 shares will be released on November 29. Trutrace’s flagship product is StrainSecure, the first integrated blockchain platform to register and track intellectual property in the cannabis industry. This technology allows cannabis growers and breeders to identify and secure rights to their intellectual property while paring back the costs of quality-control testing for legal cannabis
We should be getting some good news soon. I keep adding to my count as much as I can.
Thinking news stream should increase by late November.
From last Q:
On August 14, 2019, TruTrace announced the completion of Phase 1 of Shoppers Pilot Program. The Pilot Program is specifically designed to increase transparency, interoperability and product identification within the medical cannabis industry. Shoppers has also engaged TruTrace and Deloitte Canada LLP ("Deloitte") to execute Phase 2 of the Pilot Program, with full production and implementation of TruTrace's StrainSecure platform targeted for late November 2019. "We have been encouraged by the response to this traceability initiative. There is a clear consensus within the cannabis industry that the source and quality of medical cannabis must be transparent and identifiable in order to meet the expectations of patients and health care practitioners," said Ken Weisbrod, Vice President of Business Development, Shoppers Drug Mart. "It is more important than ever to be able to assure all stakeholders, from regulators to health care practitioners, that the medical industry is taking the necessary steps to establish the infrastructure required to deliver standardized, consistent medication to our patients. Shoppers has turned to two trusted leaders, TruTrace and Deloitte Canada LLP, to assist us in the second phase of the project."
Thanks, I couldn't find anything either. I think it's a good time to add to my count.
Not sure of why the huge drop. Only thing I saw was last week they signed another debt agreement for $200K in debenture convertible notes. But 200k or dilution wouldn't have caused this kind of drop. I think it's just weak volume and short sellers attacking. Not sure where the bottom is until we get the good news in a week or two.
Nothing that I could find.
Is there some bad news out there that I don't know about? Why so many sell's? Somebody enlighten me, please.
Guess I should have waited a couple of hours, too. No matter. It's going in the sock drawer anyway. No hurry.
Nice move. Wish I would've waited one more day. I bought 5k more yesterday at .096.
Picked up more shares. 20k total now. Maybe grab another 5k if it hits 9 cents in next few weeks.
Looking at what is coming down the road for this stock is very exciting. Once the testing results are posted, and contracts start to take over, this will go VIRAL, won't be a little penny stock any longer.
That is reassuring to me. I am into this stock up to my neck. And I can't understand why people are selling this stock.
I facebook messaged Nonnie's nectars asking if anything ever happened with the TTT parntnership and they responded, "We have Strain Secure (by TTT) test results on all of our labels."
So that's reassuring!
Waiting on response from Shivom Ventures.
That's a good question. And why are no press releases posted on this site? Always says no news. Maybe an e-mail to TTTSF would get some answers.
Looked back at a few of TTT's partnerships after today's announcements and Sigma's last week. Is it normal to hear nothing about them ever again? I looked further back into some LOI's they released and don't hear anything about them such as Nonnie's Nectar back on May 21st (not even released on the website), Shivom Ventures on June 25th, and Strainprint on May 7th. Is TTT still working with these people? Do they just announce these things and it goes nowhere? How come LOI press releases are never followed with a full agreement signed and work has begun press releases?
That's what is amazing is the value of the stock. It's not even very speculative at this point... Should be a $100M market cap based off of the potential alone, i.e. the platform they've already built is worth more than $14M and the partners adding mega potential. Not sure how stock is still this low. I guess because they haven't produced any revenue yet but I think that changes in next quarter or two of financial statements and phase 2 finishing up in November. So I definitely do not think this is overvalued by any means. Hoping to see 50 cents by Christmas.
The potential of this stock is unbelievable. In the near future this stock is going to rocket up, and katie-bar-the-door. It will go quick, and if your not on board, you will be left standing at the dock.
I agree and don't mind waiting.
Plus, current pps provides perfect opportunity for adding shares.
Yes, most of the cost was developing the platforms. Hopefully not too much more expenditure required on the R&D side of things unless it's for other areas such as food products as mentioned in the investor deck. Once up and running, Saas (software as a service) companies are very high margin, so this company should be very profitable in a short time.
Favorite part of recent article:
TruTrace’s seed-to-sale tracking tackles two pain points in the cannabis industry: it modernizes the inventory tracking system and provides customers with details about a product’s lab test results and cultivar.
As a result, TruTrace is working with at least ten major producers, which include Harvest One Cannabis, WeedMD Inc, Aphria Inc, Aurora Cannabis Inc, The Flowr Corporation, Tilray Canada Ltd, United Greeneries, and Zenabis Global Inc.
Well-known medical cannabis producer WeedMD is a big believer. The Ontario-based company saw 40 of its cannabis strains undergo validation as part of the first phase of its pilot program with TruTrace.
Clearly, things are moving in the right direction as the company’s net loss in the fiscal first quarter shrunk to $1.7 million, compared to $9 million in the same period a year earlier.
Thanks for posting. Someday this board will find traction and people will appreciate the posts.
Can Blockchain Solve Some Of The Aches Of The Cannabis Industry?
https://finance.yahoo.com/news/blockchain-solve-aches-cannabis-industry-160625679.html
[Benzinga]
Merry Jane
BenzingaSeptember 18, 2019
View photos
By MERRY JANE's David Silverberg, provided exclusively to Benzinga Cannabis.
Blockchain may be the solution for the many regulatory and oversight issues plaguing the cannabis industry — and the benefits have nothing to do with Bitcoin.
A critical question every cannabis consumer will ask at some point is, “How do I know what I’m buying is exactly what it says it is?” In recent years, blockchain is fast becoming the answer — and it has nothing to do with cryptocurrency.
Blockchain, a decentralized and transparent digital ledger, has found favor in the cannabis industry, most notably in tracking, tracing, and genome data. A strain’s genetics are stored in a smart contract — which enforces a relationship with cryptographic code — and information is added during each processing stage.
Seed-to-sale tracking innovations are being led by companies such as TruTrace Technologies (OTC: TTTSF) and Paragon in LA, and Parsl in Australia. Coin.io, a supply chain integration company, even partnered with cannabis extractor Mile High Labs in Colorado, too. They all provide B2B solutions that aim to tackle two pain points common in the cannabis industry: reform the inventory tracking system, and provide cannabis customers with exact details of a product’s lab test results, packaging dates, and cultivar.
Those lab tests speak to the processes and ingredients found in every batch of cannabis from every grower, producer, and dispensary. The cannabis has to be tested for heavy metals, pesticides, mold, and other contaminants, combined with potency and terpene levels. Labeling and testing requirements vary from state to state, but they are often draconian, and transferring details from a dispensary’s in-house point-of-sale system to the state’s tracking system has a lot of moving parts.
For the consumer, all these moving parts can be difficult to collate in one place, but a QR code scan or a similar tag can feed all that data onto a smartphone. Also, consumers want to know how rigorous the testing was done on their product; after all, Oregon’s cannabis testing system got audited this year and was found to “lack of an adequate verification process for cannabis testing results.”
In a country as vast as Canada, where recreational cannabis is now legal, some IT giants have set their sights to overhauling the country’s cannabis-inventory approach: IBM (NYSE: IBM) proposed that blockchain technology could provide an entirely transparent, tamper-proof system to track BC’s bud “from seed to sale.”
Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
“Blockchain is rapidly becoming a world leading technology enabling the assured exchange of value in both digital and tangible assets, while protecting privacy and eliminating fraud,” the IBM report explains. “Its relevance to regulating cannabis is similar to its many chain of custody applications in areas such as pharmaceutical distribution and food chains. The core to those supply chains is the same, assuring health and safety of consumers, preventing fraud and counterfeiting while creating a foundation of transparency upon which to base regulation.”
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Above, TruTrace's QR codes affixed to a cannabis water brand
In California, TruTrace brought its blockchain-enabled StrainSecure technology to a cannabis water company. They affixed QR codes on its bottles that customers can scan and quickly learn about its test results, gleaning details about, say, THC content or terpene profiles.
In an interview, TruTrace CEO Robert Galarza told MERRY JANE, “We truly see blockchain being utilized not only to secure product identification and location, but also securing patient and consumer data to be able to connect verified products with verified patients.”
Paragon CEO Jessica VerSteeg told MERRY JANE in an interview last year that government officials don't feel comfortable with some states’ seed-to-sale tracking system. “If they can't see the info 24/7, why are they going to trust this space if they can't track and trace everything properly?”
Perhaps that’s why Rhode Island is open-minded about adopting blockchain to be implemented in a variety of government departments, particularly in the state’s cannabis tracking system. Australia’s Parsl was among many blockchain companies that applied to Rhode Island’s open call for RFPs focused solely on bringing blockchain tech to its cannabis supply chain.
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Pharmaceutical companies with cannabis divisions have been looking to blockchain to boost their track-and-trace software. TruTrace recently partnered with Canada’s Shoppers Drug Mart chain, with about 1,300 pharmacies across the country. The pilot program will harness blockchain to identify, track, and verify the source and genetics of cannabis used by medical patients.
“In cannabis, there is no NDC number [the code used to identify drugs in the U.S.],” Galaraza said. “There’s an integrity problem with cannabis, and product consistency is so important to pharmacies, who truly need to be the most knowledgeable folks when it comes to medical data.”
In a statement sent to MERRY JANE, Ken Weisbrod, Vice President of Shoppers Drug Mart, wrote, “The source of medical cannabis must be traceable and accountable for patients and practitioners to feel confident about it as a treatment. When a patient takes medication, there is an expectation that it is standardized, and they can expect consistent clinical outcomes and results. Although that's not always a guarantee within the medical cannabis industry at the moment, we're hoping this new program can help change that.”
When there’s a hub for Big Data in the cannabis industry, it should allay the worries of cannabis lovers unsure about regulation and oversight. Sebastien Pasquali, IT director of CBD isolate extractor Mile High Labs, explained, “The cannabis market is under the spotlight and it’s important for companies to be transparent about their data, especially when it comes to a product’s origin.”
He noted that adding blockchain to their supply chain operations “demonstrates our commitment to quality assurance.”
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Brian Glick, CEO of Chain.io, which is working with Mile High on adding blockchain to their product line, commented in a press release, “In more traditional industries, such as food production and pharmaceuticals, there are legacy systems and long-established ways of thinking. Because Mile High Labs is building something from scratch, they have the opportunity to do things right the first time and set an example for the rest of the industry to follow.”
Another benefit of blockchain is giving dispensaries a better way to conduct due diligence on products being supplied by growers and distributors. Is that strain truly Gorilla Glue? When someone claims that the CBD content in this or that flower strain is higher than its THC figures, can we trust those lab results?
Galarza of TruTrace sees this new emerging segment of blockchain-friendly cannabis companies as amicable competition, and he stresses the importance for everyone to be working together, not against each other. “When you mine for gold, you need a shovel, pick, and axe. If this industry is going to grow, we need all picks and shovels and axes to collaborate.”
TruTrace Technologies and AdvancedCare announce strategic plan to integrate technology platforms
TORONTO, Oct. 16, 2019 /CNW/ - TruTrace Technologies Inc. (CSE: TTT) (OTCQB: TTTSF) ("TruTrace" or "the Company"), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, and AdvancedCare, a leading clinical research, clinical and telemedicine platform used by medical professionals around the world, today announced that the two companies have entered into a letter of intent ("LOI") to begin a strategic working relationship to integrate their technologies to bring innovative solutions to the medical industry.
Pursuant to the LOI, AdvancedCare plans to integrate TruTrace's StrainSecure(TM) technology within its own platform, with the objective of providing product data directly to medical professionals, patients and researchers to ensure medication has been verified and is safe to consume. The AdvancedCare platform is used within both care plans and clinical research trials. In addition, TruTrace will include AdvancedCare as a preferred partner in its StrainSecure Ecosystem.
"We are excited about the opportunity to incorporate TruTrace's leading technology into our platform," said AdvancedCare CEO Nick Murray. "Our vision is to combine the strengths of our products to help bring greater transparency and improved clinical outcomes to the legal cannabis industry."
"AdvancedCare has developed a leading product for use in EMR and clinical trials," said TruTrace Technologies CEO Robert Galarza. "We believe there are strong synergies between our respective technologies, and together we can offer significant value to the medical cannabis industry as we connect validated product data to clinical trials. We sincerely look forward to working with them on the integration."
AdvancedCare provides businesses in the healthcare industry with simple, effective tools to securely conduct clinical trials, experiments, and research studies while providing a single platform that can also be used by nurses and physicians. By combining mobile, wearables, medication monitoring and telemedicine within a single platform, AdvancedCare enhances patient wellness and enables virtual and physical clinical research trials.
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.
About AdvancedCare
AdvancedCare's platform is used by clinics and clinical research organizations to manage their day-to-day operations and clinical information. Providing a suite of telemedicine, medication monitoring, vitals monitoring and analytical tools provide clients with insights into the big healthcare data generated by millions of patient data points every day.
By leveraging the power and flexibility of AdvancedCare, clinicians are able to retrieve real-world data more efficiently and with a broader geographical reach than ever before.
Disclaimer for Forward-Looking Information
This news release includes forward-looking information within the meaning of Canadian securities legislation, including statements regarding: the ability of TruTrace and AdvancedCare to successfully integrate their technology platforms; the ability of the technology to provide product data directly to medical professionals, patients and researchers to ensure medication has been verified and is safe to consume; the ability of TruTrace and AdvancedCare to bring greater transparency and improved clinical outcomes to the legal cannabis industry. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct and actual results and future events could differ materially from those anticipated in such information. Forward-looking information necessarily involves known and unknown risks, including, without limitation, risks associated with: general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States, and elsewhere; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks beyond the Company's control. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release. Forward-looking information contained in this news release is provided as of the date of this news release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE TruTrace Technologies Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/16/c1633.html
/CONTACT:
TruTrace Technologies Inc: Robert Galarza, Chief Executive Officer and Director; Media Relations: Corey Herscu, RNMKR Agency, 416-300-3030; Investor Inquiries: Swapan Kakumanu, Chief Financial Officer, 844-656-3629, swapan@trutrace.co; AdvancedCare: Nick Murray, Chief Executive Officer and Director; Investor and Media Relations, 1-800-258-9852, ir@advancedcare.com
Copyright CNW Group 2019
> Dow Jones Newswires
October 16, 2019 07:00 ET (11:00 GMT)
This is gonna be big. Just getting started.
TruTrace Technologies to collaborate with Sigma Analytical Services on cannabis genetic testing
TruTrace said it plans to include Sigma Analytical as a genetics verification and testing partner in its blockchain-secured traceability ecosystem
TruTrace Technologies Inc - TruTrace Technologies Inc to collaborate with Sigma Analytical Services on genetic testing for cannabis
Under its StrainSecure program, the company collects plant testing data and performs genomic verification
https://www.proactiveinvestors.com/companies/news/904313/trutrace-technologies-to-collaborate-with-sigma-analytical-services-on-cannabis-genetic-testing-904313.html
TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF) announced Monday that it will collaborate with Sigma Analytical Services on genetic testing for cannabis.
Both companies have entered into a letter of intent to establish a strategic working relationship, TruTrace said in a statement.
The company said it plans to include Sigma Analytical as a genetics verification and testing partner in its blockchain-secured traceability ecosystem, and the parties will explore development and integration opportunities to expedite testing processes in the cannabis and hemp industries.
READ: TruTrace Technologies clocks first revenue after Shoppers Drug Mart pilot program in fiscal 1Q
Sigma Analytical is also expected to participate in the TruTrace Technologies and Shoppers Drug Mart medical cannabis verification pilot program as a testing partner.
The pilot program, which is designed to increase transparency, interoperability and product identification within the medical cannabis industry, uses TruTrace Technologies’ StrainSecure technology as a central hub for identity management, asset tracking, validation, and product authentication.
"We are pleased to add Sigma Analytical as a partner in our StrainSecure ecosystem," said TruTrace Technologies CEO Robert Galarza. "The Sigma team has established a track record of innovation in the cannabis industry and we look forward to collaborating with them as we continue to build out our platform and processes."
As a full-service testing and research GMP-compliant laboratory, Toronoto-based Sigma Analytical offers comprehensive testing and analytical services, as well as research and development, and consulting in cannabis, hemp and derived products across North and South America.
"Sigma has been advancing the understanding of cannabis chemistry and has ?established a global scientific network of pioneers to facilitate standardizing testing and quality assurance in this ?new and promising field of science," said Ashton Abrahams, chief operating officer of Sigma Analytical.
"Working with TruTrace and Shoppers Drug Mart to track and trace the process and products will have significant synergy with what Sigma is doing and will be valuable to the fast-growing cannabis industry."
Under the StrainSecure program, the TruTrace Technologies of Calgary collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham
TruTrace Technologies clocks first revenue after Shoppers Drug Mart pilot program in fiscal 1Q
https://www.proactiveinvestors.com/companies/news/903367/trutrace-technologies-clocks-first-revenue-after-shoppers-drug-mart-pilot-program-in-fiscal-1q-903367.html
Companies have lined up to use TruTrace’s StrainSecure technology to track strains of medical cannabis and verify their authenticity
TruTrace Technologies clocks first revenue after Shoppers Drug Mart pilot program in fiscal 1Q
The company said revenue was primarily driven by service fees associated with the use of TruTrace technology
TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF), the medical cannabis verification company, clocked revenue for the first time in the fiscal first quarter after a milestone deal with Shopper Drug Mart, to see a pilot program use TruTrace's StrainSecure technology as a central hub for identity management, asset tracking, validation, and product authentication.
For the three months ended July 31, the Vancouver-based firm posted revenue of $48,000, compared to nothing in the same quarter a year ago. Revenue was primarily driven by service fees associated with the use of TruTrace technology, said the company.
In a statement accompanying the Canadian technology company’s latest numbers, TruTrace Technologies CEO Robert Galarza said: "The launch of the Shoppers Drug Mart Pilot Program for medical cannabis verification was a very significant milestone for us in the first quarter.”
READ: TruTrace Technologies protects intellectual property to send counterfeiters packing
"This has provided us with a unique opportunity to demonstrate the effectiveness of our technology to several of Canada's leading licensed producers and other key industry participants. We intend on becoming an indispensable part of the solution to bring the highest standards of transparency and accountability to the cannabis sector," he added.
TruTrace Technologies has developed the first blockchain-secured platform to track intellectual property for cannabis. The company provides DNA-based cannabis product validation and helps with intellectual property protection and product guarantees for patients and customers.
In a nutshell, TruTrace combines the power of big data with the security of blockchain to provide strain identification, registration and verification for cannabis at scale.
The company expects momentum to continue into the second half of the year, driven by its medical cannabis pilot program with national Canadian pharmacy chain Shoppers Drug Mart.
TruTrace’s seed-to-sale tracking tackles two pain points in the cannabis industry: it modernizes the inventory tracking system and provides customers with details about a product’s lab test results and cultivar.
As a result, TruTrace is working with at least ten major producers, which include Harvest One Cannabis, WeedMD Inc, Aphria Inc, Aurora Cannabis Inc, The Flowr Corporation, Tilray Canada Ltd, United Greeneries, and Zenabis Global Inc.
Well-known medical cannabis producer WeedMD is a big believer. The Ontario-based company saw 40 of its cannabis strains undergo validation as part of the first phase of its pilot program with TruTrace.
Clearly, things are moving in the right direction as the company’s net loss in the fiscal first quarter shrunk to $1.7 million, compared to $9 million in the same period a year earlier.
Positive outlook
"We expect that the relationships we are establishing through the implementation of the StrainSecure platform in the Pilot Program will form the cornerstone of our continued growth," said Galarza.
Licensed producers are using TruTrace, in part to assure stakeholders that the medical cannabis industry is serious about offering a verified, standardized cannabis treatment option. The firm’s immutable, cryptographically secure technology is also seeing momentum in South America and the US as well.
"Our technology is being validated through a large-scale proof of concept. This enables us both to demonstrate the value of our offering to industry participants, and to advance our technology in response to their input,” said Galarza.
“Prospective customers in Canada and internationally have been tracking our progress and are showing strong interest for our company," he added.
As adoption grows with each new user, TruTrace further stakes its claim as a technology game-changer for the cannabis industry
In August and September 2019, TruTrace announced the closing of the first two tranches of a private placement raising proceeds of roughly $720,000.
In September 2019, Deloitte and TruTrace announced a strategic alliance to deliver blockchain product-traceability solutions to the cannabis industry. The company expects the strategic alliance to lead to additional business development opportunities.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
Plenty of good news already out there. Company working towards finishing phase 2 and starting full implementation in November. Other than that, I'd only expect pretty articles to come out with ceo quotes about the company.
Need some good news for this stock. The outlook looks very promising. Would be nice to know what the company is doing.
In for another 4k shares, this time got filled at .1636. Not sure that this goes any lower than 16 cents. Also told a buddy about the stock and he bought 12k shares soon after he looked it up.
As soon as revenues start and implementation takes off, this will no longer be a $15M company. The program coding alone should be worth $100M. Hoping to break a dollar before new years pending full implementation but that could be wishful thinking.
In at 18 cents. Once I heard Deloitte was a part of this, I had to get in. Will watch and hopefully buy larger chunks over next couple of months around 16 cents.
Deloitte and TruTrace Technologies Inc. form strategic alliance to improve cannabis quality control and safety for retailers and consumers.
https://www2.deloitte.com/ca/en/pages/press-releases/articles/deloitte-and-trutrace-technologies-inc-form-strategic-alliance-cannabis-quality-control.html
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151054874
emit...
This is going to be huge. Once all the ducks line up, it will take off.
The Flowr Corporation Joins Shoppers Drug Mart and TruTrace Technologies Pilot Program for Validation of Medical Cannabis
TORONTO , July 31, 2019 /CNW/ - The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) ("Flowr") and TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) ("TruTrace" or the "Company") today announced that Flowr joined the Shoppers Drug Mart ("Shoppers") medical cannabis verification pilot program (the "Pilot Program"), which was announced last month at the World Cannabis Congress. The Pilot Program is intended to increase transparency, interoperability and product identification within the medical cannabis industry.
The Pilot Program uses TruTrace's StrainSecure™ technology as a central hub for identity management, asset tracking, validation, and product authentication. StrainSecure™ will also serve as a master registry for standardized testing, product verification, and quality assurance.
Under the StrainSecure™ program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
"Our medical cannabis products in Canada are available through Shoppers as we believe the pharmacy model offers significant benefits to patients. We fully support the objectives of this Pilot Program and look forward to working with our partners to ensure patients have access to medicinal cannabis they can trust," said Dr. Lyle Oberg , Flowr's Chief Medical and Policy Officer. "Medical cannabis patients expect that their medication is safe, standardized and of high quality, and we believe this formal traceability program can play an important part of the overall process of building that trust."
"We are very pleased to see Flowr join the Pilot Program and affirm its commitment to achieving the highest standards of transparency and accountability," said TruTrace Technologies CEO Robert Galarza . "It is more important than ever to provide assurance to patients about the origins and quality of their cannabis."
Flowr has a supply agreement with Shoppers to supply its FlowrRx brand of medical cannabis products. Patients can visit Shoppers' ecommerce site, shoppersdrugmart.ca/cannabis, to learn more.
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.
About Shoppers Drug Mart:
Shoppers Drug Mart is one of the most recognized and trusted names in Canadian retailing. The company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec). With almost 1,300 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the company is one of the most convenient retailers in Canada. The company also licenses or owns 47 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec), and provides cosmetic dermatology services at two standalone locations, the Beauty Clinic. As well, the company owns and operates 43 corporate Wellwise by Shoppers Drug Mart stores and an ecommerce site Wellwise.ca, making it the largest Canadian retailer of home health care products and services. In addition to its retail store network, the company owns Shoppers Drug Mart Specialty Health Network Inc., a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and MediSystem Inc., a provider of pharmaceutical products and services to long-term care facilities. Shoppers Drug Mart is an independent operating division of Loblaw Companies Limited.
TruTrace Technologies Announces OTCQB Listing
TORONTO , July 30, 2019 /CNW/ - TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) ("TruTrace" or the "Company"), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, today announced that its common shares have commenced trading on the OTCQB® Venture Market, under the symbol TTTSF. The Company believes that trading on the OTCQB, along with the DTC eligibility it secured earlier this year, provides additional liquidity and exposure amongst U.S. investors.
"As our company continues to execute on its growth strategy, the United States market is becoming increasingly important both in terms of investor interest and strategic opportunities," said TruTrace Technologies CEO Robert Galarza . "The expansion of the legal cannabis market throughout the largest economy in the world should not be ignored in today's market."
The OTCQB Venture Market offers early stage and developing companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Investors benefit from convenient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers. Investors can find information and trading statistics on TruTrace at https://www.otcmarkets.com.
Company Announces Grant of Options
The Company also announced that it has granted an aggregate of 1,500,000 stock options to certain directors and officers of the Company, and a consultant (the "Optionees") for the purchase of up to 1,500,000 common shares of the Company pursuant to its Stock Option Plan. Each option is exercisable for a period of five years at a price of $0.25 per common share.
The options and the shares issuable upon the exercise of the options held by the Optionees are subject to a Canadian Securities Exchange hold period of four months from the date of grant of the stock options.
The stock options granted to directors and officers vest annually with 1/3 vesting immediately on the date of grant, 1/3 vesting one year after the date of grant, and 1/3 vesting two years after the date of grant.
The stock options granted to the consultant vest upon the completion of certain vesting milestones, as to 25% on the completion of a first vesting milestone, 10% on the completion of a second vesting milestone, 15% on the completion of a third vesting milestone, 15% on the completion of a fourth vesting milestone, 15% on the completion of a fifth vesting milestone, 15% on the completion of a sixth vesting milestone, and 5% on the completion of the seventh and final milestone.
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.
TTTSF: TruTrace Technology CEO Robert Galarza | Transparency and Trust in Legal Cannabis
https://au.finance.yahoo.com/news/cannabis-company-elixinol-global-granted-054837089.html
By Connor Lovat-Fraser -
July 17, 2019
With CannTrust still struggling to find their footing after last week’s debacle involving product produced in five unlicensed grow rooms being released to market, the situation continues to go from bad to worse. Approximately 5,200 kg of cannabis has since been placed on hold by Health Canada, over 14 class-action lawsuits have been filed by law firms representing claimants in both Canada and the United States, and fears of medical grade cannabis shortages plague patients relying on CannTrust produced product. All of this has culminated in an increasing distrust by both investors and the general public toward the truth and transparency being put forth by cannabis producers.
Where do we go from here?
Robert Galarza, CEO of TruTrace Technologies, believes that the Vancouver-based company which developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry, can offer a step in the right direction.
CF270D35 F10C 441E A5F0 7C07A61A3906 300x300 - EXCLUSIVE: TruTrace Technology CEO Robert Galarza | Transparency and Trust in Legal Cannabis
Photo: Robert Galarza – CEO TruTrace Technologies
“What this CannTrust issue brought to light was that there was a tremendous amount of product which made it into the supply chain that was illegal,” says Galarza when asked to comment on recent events.
“We can paint it however we want, but it was still black. it’s still classified as black market cannabis.”
His sentiments on the subject reflect the general discourse surrounding the core concerns facing the cannabis industry right now. These concerns create questions: How could this have been prevented? How do we fix this?
These questions have been asked of Galarza and TruTrace directly.
“We’ve been asked that question a lot; ‘What can you guys do to fix this problem?’ And it’s not really the right question, right? The questions should be, ‘What kind of systems, including ours, could prevent these types of situations from happening? What, as an industry, can we do collectively?’ And all of that starts with better information and better systems,” says Robert, adding, “The problem with a lot of the data that’s getting aggregated by healthcare right now is that it’s all on paper. So how can you spot these kind of issues if everything is indexed in binders and back offices? There’s no realistic audible trail to be able to work with unless you’re using digital information.“
This is what’s at the core of what TruTace is trying to accomplish. By digitally compiling accurate genetic information – accessible to anyone linked into the system – which can pinpoint any plant’s place of origin, a list of all parties involved from development, cultivation, production and distribution from producer to market, consumers can build a trust to strengthen the relationship between themselves and producers.
With all that being said, it’s worth drawing attention to the fact that the industry itself is still in its infancy. We are experiencing a world which accepts the validity of cannabis as a viable and necessary commodity for the first time. Mistakes and missteps can be looked upon as an opportunity to grow and to change the flaws inherent in any burgeoning endeavour.
“The oldest LPs are only five years old,” notes Galarza. “None of these companies have a long standing history or track record to be able to showcase that they’re doing everything the right way, but what we have seen is that there is definitely an intention and a desire to for all of us to raise the bar. We should applaud the LPs that are that are stepping up to the plate.”
Since the events related to the unlicensed CannTrust product were brought to light last week, there have been about a half dozen LPs stepping up to the metaphorical plate. The influx of interest by licensed producers toward what TruTrace is attempting to accomplish by providing accountability and transparency along every step of the journey deserves to be recognized and lauded. Where some may be calling for a witch hunt, attention could and should instead be given to the means in which the cannabis industry is attempting to take these events as a broader lesson; a valuable tool in building and maintaining a solid trust that should and must exist between producers and consumers.
Information pertaining to the fallout created by CannTrust’s breach of trust continues to surface. In the meantime, TruTrace Technologies and reputable licenced cannabis producers are doing everything in their power to provide transparency and preserve the integrity the public expects from all players involved in the pursuit to legalize marijuana across the globe.
Related Links
Website: http://www.strainsecure.com
Twitter: http://www.twitter.com/trutracetech
Facebook: https://www.facebook.com/StrainSecure/
https://au.finance.yahoo.com/news/cannabis-company-elixinol-global-granted-054837089.html
WeedMD and BLOCKStrain Launch the Industry's First Cannabis Validation Testing Program
NOTE: Blockstrain(DNAXF) is now Trutrace Technologies (TTTSF)
VANCOUVER, Jan. 15, 2019 /CNW/ - WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) ("WeedMD"), a federally-licensed producer and distributor of medical-grade cannabis, and BLOCKSTRAIN TECHNOLOGY CORP. (the "Company" or "BLOCKStrain") (TSXV: DNAX.V) (OTC: DNAXF) are pleased to announce that they have completed the 'first-of-its-kind' cannabis strain validation registration program - a testing and verification process that will confirm cannabis strains as purchased.
Derek Pedro and Curtis Wallace of WeedMD log the genetics of the Company's cannabis strains into the Blockstrain database on October 17. These were the first strains officially logged into the Blockstrain system. (CNW Group/BLOCKStrain Technology Corp.)
Derek Pedro and Curtis Wallace of WeedMD log the genetics of the Company's cannabis strains into the Blockstrain database on October 17. These were the first strains officially logged into the Blockstrain system. (CNW Group/BLOCKStrain Technology Corp.)
Strain validation will play an important role as cannabis products advance through the medical, pharmaceutical and retail channels. Following the collection and registration of plant DNA from its Aylmer, Ontario facility in October 2018, WeedMD becomes the first licensed producer in the world to incorporate a cannabis strains authenticity and tracking platform into its sales program.
BLOCKStrain's proprietary genome tracking software houses the DNA data for cross referencing.
"For years, consumers have been purchasing cannabis products with very little information on what exactly is being purchased, but they can now trace strain origin and their CBD/THC content, along with all other pertinent information," said Robert Galarza, CEO of BLOCKStrain. "With the unique technology of our Master Genome Strain and Clone registration program, producers can now guarantee their strains and provide customers with product assuredness."
"We congratulate all the teams that worked on this groundbreaking achievement. With the completion of the strains genetic testing, consumers will appreciate the traceability and origin assurance of the cannabis strains they are purchasing from WeedMD," said Keith Merker, CEO of WeedMD. "We now have a total of 40 active cannabis strains from our genetics bank that will be marked with a 'BLOCKStrain Certificate of Authenticity' and may be cross-referenced as verifiable strains in BLOCKStrain's database, all the way from genome to sale."
BLOCKStrain, which developed a Master Genome Strain Registration and Clone Strain Registration program is focused on providing transparency and actionable quality assurance to cannabis consumers. Licensed producers completing the registration can in turn provide assurance to their own customers that the cannabis strains they purchase are the ones they receive.
BLOCKStrain scientists collect plant data and genomic sequencing in plant batches which are registered in a blockchain-enabled database for intellectual property protection and strain validation. Known as the Master Genome Strain & Clone Registration Program, all information gathered from the plant genome, including its molecular and chemical makeup, can be tracked via the program. Going forward, a quick response (QR) barcode specific to each plant batch can reveal everything about how it was cloned, cultivated, its cannabinoid content and more. A video introducing the WeedMD and BLOCKStrain pilot project can be found here:
Zenabis Global to use TruTrace Technologies blockchain-based testing platform to guarantee cannabis quality
https://www.proactiveinvestors.com/companies/news/222971/zenabis-global-to-use-trutrace-technologies-blockchain-based-testing-platform-to-guarantee-cannabis-quality-222971.html
10:00 27 Jun 2019
The Canadian medical and recreational cannabis grower has also signed up to join the Shoppers Drug Mart and TruTrace medical cannabis verification pilot project
Zenabis Global to use TruTrace Technologies blockchain-based testing platform to guarantee cannabis quality
10:00 27 Jun 2019
The Canadian medical and recreational cannabis grower has also signed up to join the Shoppers Drug Mart and TruTrace medical cannabis verification pilot project
An analysis
The firm's proprietary StrainSecure platform establishes integrity and quality assurance measures
TruTrace Technologies Inc (CVE:TTT) (OTCMKTS:BKKSF) said Thursday that Canadian medical and recreational cannabis grower Zenabis Global Inc (OTCMKTS:ZBISF) will use its StrainSecure platform to collect, register, track and publish verified testing data for its cannabis strains.
The Vancouver-based firm combines the power of big data with the security of blockchain to provide strain identification, registration and verification to cannabis companies.
The firm's proprietary StrainSecure platform establishes integrity and quality assurance measures. The blockchain-based platform is designed to guarantee product quality and genetics throughout the cannabis supply chain from genome to patient.
READ: TruTrace Technologies takes on cannabis tracking with its proprietary blockchain platform
The company said that its StrainSecure platform is intended to enable Zenabis to "validate its cannabis strains" and provide its customers with transparency about the authenticity, quality and origin of its products.
Pilot project
In addition, Zenabis is joining the medical cannabis verification pilot project being run by TruTrace and Canadian retail pharmacy chain Shoppers Drug Mart launched last week at the World Cannabis Congress in Saint John in Canada. The project is aimed at improving industry accountability and patient outcomes.
"This initiative continues to gain momentum with the signing of a forward-thinking cannabis cultivator like Zenabis who recognizes the value of providing verified product data to their patients and customers," said TruTrace Technologies CEO Robert Galarza. "The recent launch of this traceability pilot project with Canada's leading pharmacy brand demonstrates the importance of standardization and traceability in designing and evaluating treatment programs for patients."
Phase 1 of the pilot project is expected to be completed by July 31, with full production and implementation targeted for late-November.
TruTrace's StrainSecure platform
TruTrace's StrainSecure platform will allow growers and breeders to identify and secure rights to their IP while streamlining admin and reducing the costs for genetic and mandatory quality-control testing for legal cannabis. The fact is that consumers and regulators both want to know whether a cannabis product sold at a dispensary is safe and meets quality control standards.
"We're extremely excited to be part of the pioneer group of licensed producers partnered with TruTrace Technologies and Shoppers Drug Mart, who are committed to increasing transparency, traceability, and standardization in the cannabis industry,” said David Lluncor, chief revenue officer at Zenabis. “We're happy to be able to play a role in offering Canadian medical patients and adult-use consumers assurances that they are being supplied safe, high quality, cannabis and hemp CBD products."
Under the StrainSecure program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. Information gathered from the plants, including their molecular and chemical makeup, can be tracked through the program.
Since the start of 2019, TruTrace Technologies has signed on several licensed growers to its StrainSecure platform.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
TruTrace Technologies Inc (CVE:TTT) (OTCMKTS:BKKSF) said Thursday that Canadian medical and recreational cannabis grower Zenabis Global Inc (OTCMKTS:ZBISF) will use its StrainSecure platform to collect, register, track and publish verified testing data for its cannabis strains.
The Vancouver-based firm combines the power of big data with the security of blockchain to provide strain identification, registration and verification to cannabis companies.
The firm's proprietary StrainSecure platform establishes integrity and quality assurance measures. The blockchain-based platform is designed to guarantee product quality and genetics throughout the cannabis supply chain from genome to patient.
READ: TruTrace Technologies takes on cannabis tracking with its proprietary blockchain platform
The company said that its StrainSecure platform is intended to enable Zenabis to "validate its cannabis strains" and provide its customers with transparency about the authenticity, quality and origin of its products.
Pilot project
In addition, Zenabis is joining the medical cannabis verification pilot project being run by TruTrace and Canadian retail pharmacy chain Shoppers Drug Mart launched last week at the World Cannabis Congress in Saint John in Canada. The project is aimed at improving industry accountability and patient outcomes.
"This initiative continues to gain momentum with the signing of a forward-thinking cannabis cultivator like Zenabis who recognizes the value of providing verified product data to their patients and customers," said TruTrace Technologies CEO Robert Galarza. "The recent launch of this traceability pilot project with Canada's leading pharmacy brand demonstrates the importance of standardization and traceability in designing and evaluating treatment programs for patients."
Phase 1 of the pilot project is expected to be completed by July 31, with full production and implementation targeted for late-November.
TruTrace's StrainSecure platform
TruTrace's StrainSecure platform will allow growers and breeders to identify and secure rights to their IP while streamlining admin and reducing the costs for genetic and mandatory quality-control testing for legal cannabis. The fact is that consumers and regulators both want to know whether a cannabis product sold at a dispensary is safe and meets quality control standards.
"We're extremely excited to be part of the pioneer group of licensed producers partnered with TruTrace Technologies and Shoppers Drug Mart, who are committed to increasing transparency, traceability, and standardization in the cannabis industry,” said David Lluncor, chief revenue officer at Zenabis. “We're happy to be able to play a role in offering Canadian medical patients and adult-use consumers assurances that they are being supplied safe, high quality, cannabis and hemp CBD products."
Under the StrainSecure program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. Information gathered from the plants, including their molecular and chemical makeup, can be tracked through the program.
Since the start of 2019, TruTrace Technologies has signed on several licensed growers to its StrainSecure platform.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
TTTSF(.2251): Shivom and TruTrace Technologies to Explore Clinical Solutions for Cannabis Market
LONDON and TORONTO , June 25, 2019 /CNW/ - Shivom Ventures Limited ("Shivom"), a biotechnology data and analysis company optimising the way DNA is shared, secured and analysed through blockchain and AI technology, and TruTrace Technologies Inc. (CSE: TTT; OTC: TTTSF) ("TruTrace" or the "Company"), which has developed the first integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, announced that the two companies have signed a letter of intent ("LOI") to establish a strategic working relationship. The companies will explore a partnership to utilize both Shivom and TruTrace's blockchain solutions in order to disrupt the global medicinal and recreational cannabis markets.
Shivom and TruTrace Technologies are exploring a partnership to utilize their blockchain solutions in order to disrupt the global medicinal and recreational cannabis markets. (CNW Group/TruTrace Technologies Inc.)
Shivom and TruTrace Technologies are exploring a partnership to utilize their blockchain solutions in order to disrupt the global medicinal and recreational cannabis markets. (CNW Group/TruTrace Technologies Inc.)
Through the LOI, Shivom is entering into the booming cannabis market, which is projected to hit US$40 billion by 2024 – nearly triple the US$14.9 billion estimated to be spent this year, according to ArcView Market Research and cannabis industry analysis firm BDS Analytics.
"Shivom is excited to enter the cannabis market via a strategic partnership with TruTrace, which has developed the first integrated blockchain platform to register and track IP in the cannabis industry," said Shivom CEO, Henry Ines . "As the industry is still in its early stages in terms of understanding and uncovering all of the medicinal benefits associated with the use of CBD, Shivom is keen to work with leading organizations in the space such as TruTrace to further uncover additional therapeutic benefits based on one's genomic profile and unique personal health information. Shivom anticipates significant opportunities to collaborate with TruTrace and its partners to provide clinical research opportunities, medical insights and personalized healthcare products to consumers and patients within the global cannabis ecosystem."
"Shivom has developed some very interesting technology that combines genomics, cryptography and AI, and we are excited to begin collaborating with them," said TruTrace CEO, Robert Galarza . "We plan to explore development and integration opportunities to advance clinical research, and bring greater transparency, insights and viability to the legal medical and recreational cannabis industry."
For more information about Shivom please visit here
To read more about our affiliation with Living DNA please visit here
To read more about our affiliation with Vitl please visit here
To read more about our affiliation with Chronomics please visit here
About Shivom
Shivom is a biotechnology data and analysis company optimising the way DNA is shared, secured and analysed. By utilising innovative technologies such as blockchain and machine-learning algorithms, we are able to democratise genomics.
Our mission is to bring exponential value to our end-users within the genomics industry. We believe that the unique combination of our in-depth knowledge for genomics, mixed with deep-rooted backgrounds in cryptography and AI is essential in the democratisation of genomics and healthcare data.
Learn more about our direct-to-consumer solutions here
Shivom Social Channels:
Official Homepage: shivom.io
Twitter (English): @projectshivom
Youtube: Shivom's Channel
Telegram: Shivom Announcements
Facebook: @projectshivom
Instagram: @projectshivom
Medium: Shivom Official
LinkedIn: @projectshivom
About TruTrace Technologies
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.
To learn more about TruTrace Technologies please visit https://strainsecure.com/.
Disclaimer for Forward-Looking Information
Information in this news release with respect to Shivom has been provided by Shivom and not independently verified by TruTrace. This news release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of TruTrace. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including the statements regarding: the expected partnership between TruTrace and Shivom; the expected benefits to the Company of the proposed relationship with Shivom; and that the Company and Shivom may develop a solution that has a disruptive effect on the global recreational and medicinal cannabis industry. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct and actual results and future events could differ materially from those anticipated in such information. Forward-looking information necessarily involves known and unknown risks, including, without limitation, risks associated with general economic conditions; that the parties may be unable to negotiate a formal agreement with respect to the proposed partnership; adverse industry events; loss of markets; future legislative and regulatory developments in Canada , the United States , the United Kingdom and elsewhere; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry generally in Canada , the United States , the United Kingdom and elsewhere; and other risks. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE TruTrace Technologies Inc.
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