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So what your saying is, is this is gonna go like this for a long, long, time.He will sell his shares at 5 or 6 cents until all 7 million, or whatever is gone. Which could take years. Not much of a chance for this stock to go over 5 or 6 cents, because he just keeps it held down, where he can pick his pennies over and over.Not much of an incentive for a person to invest in this stock. What say you?
He has been in the deal all along this is just another 7 million shares under another account. Obvious someone is a big seller in this and anyone with that many shares has to be close to the company one way or another.
someone mentioned they can't sell the shares from the tommy deal awhile back until October. Not sure if that's true or not. If that's the case, look for the volume on the ask to be in the millions for a long time.
This whole deal is a cash register for management and friends. Orion one Global used to be Globatom both owned by Tommy Stephenson. Why does Heated details need to sell so much stock at 6 cents? Does he not have funding for Orion One Global? They don't file because they have an ATM machine here. All these announcements and no revenue what does that tell you. After he sells his 7 million shares he will come up with another company and bogus deal to get more shares
Well, this guy selling 7 million shares everyday for a few hundred dollars, siphoning off every day. In other words, if your a long term investor here, just bend over, cause here it comes. I'm more concerned about this late filing. Have any other company filed for late filings? Is the company using this Corona Virus crisis to delay bad news or what?
Figured it was heated details selling millions of shares. If the guy was a real player he wouldn't dump his 4 or 7 million shares at 6 cents to get paid a few hundred thousand. As an insider doesn't show much conviction on the direction of management and the long term prospects of the company
The company allowed the new director to convert 4m shares to settle debt with him on Sept 2. Chances are it's him selling his shares.
Who is the huge seller there is always big size on the offer never goes away?
NXT Water Officially Launches AKESO Hemp Powered Hydration in Conjunction with New Management, Investment Capital and Distribution
https://www.bevnet.com/news/2020/nxt-water-officially-launches-akeso-hemp-powered-hydration-in-conjunction-with-new-management-investment-capital-and-distribution/
TTTSF: TruTrace Technologies Inc. Announces Postponement in Filing of Annual Filings
Toronto, Ontario – August 28, 2020, TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) (“TruTrace” or the “Company”), creator of a fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry announces that it will not be in a position to file its audited annual financial statements for the fiscal year ended April 30, 2020 and the related management's discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the "Annual Filings") by the filing deadline of August 28, 2020.
This news release is being issued in accordance with the blanket relief of a 45-day extension, provided by Canadian Securities Administrators and Ontario Instrument 51-502: Temporary Exemption from Certain Corporate Finance Requirements, for periodic filings normally required to be made by issuers.
In response to recent proclamations from Canadian health authorities and the challenges resulting from the COVID-19 pandemic, the Company has taken the necessary precautions to protect the health and safety of its employees and the public. Accordingly, a significant portion of the Company's staff as well as its auditor's staff have been working from home, and travel for in-person meetings has been curtailed. While working remotely, the coordination of tasks and work product has been more difficult, the completion of audit procedures due to limited access to paper-based supporting evidence has been delayed, and the entire audit process has been slowed. Furthermore, since the Company's various suppliers and clients have also been working remotely, their responses to standard audit inquiries have slowed, including responses from significant Company clients.
The challenges posed by COVID-19 have resulted in a delay in the finalization and filing of the Annual Filings. However, the Company's board of directors and its management confirm that they are working expeditiously to meet the Company's obligations relating to the filing of the Annual Filings. At this time, the Company anticipates being able to complete the Annual Filings on or before October 12, 2020.
The Company confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 1 1-207: Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, such that they are in a black-out period until the end of the second trading day after the Annual Filings have been disclosed by way of a news release.
Since March 27, 2020, the date of filing of the Company’s unaudited interim financial statements for the three months ended January 31, 2020, the Company has announced:
On June 26, 2020, the Company announced that it settled CAD $950,000 of indebtedness previously owed to Heated Details, Inc., the primary vendor responsible for software development, design and maintenance of the Company’s proprietary StrainSecure™ platform and thereby securing all rights to TruTrace’s intellectual property.
On July 3, 2020, the Company announced it signed a software license agreement with OrionOne Global, Inc., a global supply chain provider delivering best-in-class technology which serves as a logistics and tracking smart-hub for navigating shipments and logistics worldwide.
On July 3, 2020, the Company announced the acquisition, by way of private transactions, of control and direction over an aggregate of 17,200,000 common shares in the capital of the Company by Thomas Stephenson, Chief Technology Office of the Company.
On August, 14, 2020, the Company advised the Security Holders that the Annual General and Special Meeting of the Company is to be held on October 16, 2020
On August 25, 2020, the Company announced that it teamed with Riviera & West One Logistics to ensure the highest quality for its line of products including Hygen-X™ hand and surface sanitizer products.
On August 26, 2020, the Company announced that medical distributor, Safe Company selected the TruTrace Enterprise™ SaaS platform to manage inventory and quality assurance processes for its medical and protective consumables, hospital supplies and air purification solutions.
The Canadian Securities Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release.
On behalf of the Board of Directors: Robert Galarza, Chief Executive Officer and DirectorFor More Information: Robert Galarza, Chief Executive Officer and Director, 888-775-4888
Disclaimer for Forward-Looking Information This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. Forward-looking statements made in this news release relate to the anticipated timing of the Annual Filings. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including adverse market conditions. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this
notice. 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 la
then could possibly be shorting shares against his position
someone mentioned they weren't allowed to sell the shares until October but no clue if that's true.
You can get filled all day long at the HUGE offer. So who is the big seller in this at 5 and 6 cents? Probably the 7.7 mm shares they just gave away.The PR releases all look good but this trades like a printing press.
Even a glimmer of hope in the fins would please me. I know we're both checking Sedar every day for the filing!
Wow, that's nice! I haven't been able to get a fill at all, and some others had problems too. I finally put on in at the ask and get filled. Hoping for a solid report somehow for the 4th quarter and we won't look back at these prices ever again.
Interesting. Put 2K order in with limit at Ask of .053. Filled at .04665. Have placed a few orders in last few weeks and they always fill well below the Ask.
Didn't quite see any on his twitter. They were on the last deck so I assume they were a part of it. I originally thought they had a subsidiary a part of it but don't remember.
garettf, has Rob followed any of the APHA folks? They haven't announced participation in the Trial, though they were original members last year when this project started. Wondering because of this article: https://www.prnewswire.com/news-releases/aphria-inc-announces-strategic-supply-agreement-with-canndoc-301105647.html
Only difference between this meeting and the filing for the one last year is:
Issuer sending proxy related materials directly to NOBO: yes.
There were no proxy materials last year.
What does the Sedar filing on August 14th mean? A meeting for the common shareholders coming up. Just normal director voting or more...?
August 14, 2020 510 Burrard St, 3rd Floor
Vancouver BC, V6C 3B9
www.computershare.com
To: All Canadian Securities Regulatory Authorities
Subject: TRUTRACE TECHNOLOGIES INC
Dear Sir/Madam:
We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:
Meeting Type : Annual General and Special Meeting
Record Date for Notice of Meeting : September 09, 2020
Record Date for Voting (if applicable) : September 09, 2020
Beneficial Ownership Determination Date : September 09, 2020
Meeting Date : October 16, 2020
Meeting Location (if available) : Vancouver, BC
Issuer sending proxy related materials directly to NOBO: Yes
Issuer paying for delivery to OBO: No
Notice and Access (NAA) Requirements:
NAA for Beneficial Holders No
NAA for Registered Holders No
Voting Security Details:
Description CUSIP Number ISIN
COMMON 898447107 CA8984471075
https://www.digitaltrends.com/news/usps-mail-in-voting-blockchain-election/
article with galarza commenting
Per Sedar, last year's full year financials were posted August 23rd I believe. So we'll get some kinda soon hopefully.
When was the last financials posted? Are we due some financial reports? Maybe I missed the last ones.
They probably find ways around it. Just looks like a lot of size always
200k + on the offer. Who has that kind of size to keep selling at 6 cents?
https://www.businessinsider.com/canadas-largest-drugstore-chain-shoppers-track-cannabis-quality-database-2020-7
Pay wall so if someone could copy and paste the article I'd appreciate it.
I could be wrong but I think I heard someone say there is a lockup period on the shares for a few months. Someone correct me if that's wrong.
Is That 7.7 mm shares just issued what's holding this stock here? There is always big size on the offer so is it possible the big size and selling is part of that 7.7 million shares
I get the feeling the covid tracing app stuff will come first and then this will catch fire.
Just a wild guess
Beautiful presentation, garrettf. Thanks.
Have you seen the new investor deck? Out a few days ago. Discusses tracking Cannabis, pharmaceuticals, pharmaceuticals, cosmetics, and food. If they start to sign a deal in any of those areas, this stock will explode. That would mean getting into industries in the US that aren't illegal. We'll see what happens over the rest of the year if it's the real deal.
I'm thinking Shoppers Drug Mart/TruTrace collaboration eventually could lead to blockchain tracking for pharmaceuticals.
This is an old article, but still very relevant.
"How Pharma will soon use Blockchain to track your drugs"
https://www.computerworld.com/article/3439843/how-pharma-will-soon-use-blockchain-to-track-your-drugs.html
all good! Thank you for posting all the news. I try to as well when I'm free. Lot of news lately, let's see if it keeps on rolling in.
LOL, sorry for the double Radient post!
Radient Technologies Inc. Announces Participation in a Medical Cannabis Study Led by the University Health Network in Partnership with Shoppers Drug Mart
EDMONTON, Alberta, July 17, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a manufacturer of high quality cannabinoid-based formulations and products, is pleased to announce that bioU products by Radient will be available to patients in the recently announced University Health Networks’ (“UHN”) Medical Cannabis Real-World Evidence Study (“MC-RWE Study”) in partnership with Medical Cannabis by Shoppers. The first-of-its-kind study will involve a nation-wide clinical trial to examine the effects of medical cannabis on pain, sleep and anxiety issues.
Radient developed the bioU brand exclusively for Medical Cannabis by Shoppers and the products have been formulated to meet the highest levels of quality, consistency, and stability. All three oral spray formulations currently available on the Medical Cannabis by Shoppers site will be available to patients enrolled in the MC-RWE Study, providing patients with a variety of options in THC and CBD products in a convenient and standard dose format. As part of the study, all bioU products have undergone additional testing, with results registered on TruTrace Technologies software platform and integrated with the Medical Cannabis by Shoppers.
“Radient strongly believes that consistency, safety and standardization are key elements for all medical products, and are excited to partner with UHN, Shoppers and TruTrace on this groundbreaking study,” said Denis Taschuk, CEO of Radient Technologies. “Providing patients and medical professionals with trusted products that deliver repeatable results is a crucial step in having cannabis incorporated into medical treatments and is at the heart of all Radient products. Shoppers is creating a standard for medical cannabis, which along with the data from these clinical trials, will increase the confidence of both doctors and patients in using cannabis for medical purposes.”
About the UHN MC-RWE Study
Led by UHN's Dr. Hance Clarke, the observational study is targeting a minimum of 2,000 patients who will be followed over a 24-week period. Enrolled patients will have access to certain fully verified products on the Medical Cannabis by Shoppers platform, which have been tested for detailed cannabinoid and terpene profiles. Read more about the study here.
About Radient
Radient Technologies is a commercial manufacturer of high quality cannabinoid based formulations, ingredients and products. Utilizing a proprietary extraction and downstream processing platform that recovers up to 99% of cannabinoids from the cannabis plant, Radient develops specialty products and ingredients that contain a broad range of cannabinoid and terpene profiles while meeting the highest standards of quality and safety. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
For further information please contact:
Radient - Investor Relations
ir@radientinc.com
Forward Looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the Company’s participation in the MC-RWE Study; the Company’s ability to grow its business in the cannabis sector and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Related Articles
More articles issued by Radient Technologies Inc
More articles related to:
Company Announcement
This is exciting to watch. This puppy is picking up steam and is rolling down the tracks. Investors need to get on while it’s at a low price. It may never be this low again.
The Valens Company to contribute Nüance premium cannabis oil to first-of-its-kind evidence study on patients using medicinal cannabis
https://www.proactiveinvestors.com/companies/news/924048/the-valens-company-to-contribute-nance-premium-cannabis-oil-to-first-of-its-kind-evidence-study-on-patients-using-medicinal-cannabis-924048.html
The Canadian study will look at the therapeutic effects of medical cannabis in adults with chronic pain, sleep problems and anxiety issues
The study uses TruTrace blockchain secure technology of the Medical Cannabis by Shoppers online product portal to test and verify products
The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) has said it is participating in a new study on medical cannabis led by the University Health Network and Canadian pharmacy chain Shoppers Drug Mart’s medical cannabis division.
The first of its kind, the real-world evidence study will look at the therapeutic effects of medical cannabis in adults with chronic pain, sleep problems and anxiety issues, and will use TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF) blockchain secure technology of the Medical Cannabis by Shoppers online product portal that tests and verifies cannabis products.
Kelowna, BC-based Valens is contributing its Nüance brand of premium cannabis oil to the study, it said in a release.
READ: The Valens Company strikes manufacturing deal with FPS Brands to launch the ufeelu line of hemp-derived CBD products
During the study, Nüance will be tested and verified results on each batch will be available through the Medical Cannabis by Shoppers portal for physicians and patients, who can also identify the contents of their product through the portal.
By identifying the potency levels of THC and CBD, patients can confidently rely on data to ensure consistency throughout batches, Valens noted.
The aim of the study, which is designed by Dr Hance Clarke of Toronto’s University Health Network, is to give physicians, pharmacists and patients more confidence in medicinal cannabis products to treat ailments such as pain, according to Valens.
"Nuance oils are developed exclusively for Shoppers Drug Mart with medical cannabis patients at the core,” Valens CEO Tyler Robson said in the statement.
“To be able to participate in this real-world study and have the opportunity to understand how our products could be used as a treatment is an exciting step in the right direction for us.”
Robson pointed out the firm is looking forward to using insights and data from the study to further advance its commitment to developing and testing the highest-quality and most reliable products for patients using cannabis for both medical purposes as well as recreational consumers.
"Medical Cannabis by Shoppers is best placed to offer Canadians the reassurance of medical products that have been tested and validated," said Ken Weisbrod, vice president business development and cannabis strategy at Shoppers Drug Mart.
"Our development of a blockchain secured initiative with TruTrace has now been integrated into an operational portal that will provide products with an immutable digital identity that can capture everything from detailed chemistry down to its DNA," he added.
The 24-week study will follow around 2,000 participants across Canada.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas
Radient Technologies Inc. Announces Participation in a Medical Cannabis Study Led by the University Health Network in Partnership with Shoppers Drug Mart
https://www.globenewswire.com/news-release/2020/07/17/2063864/0/en/Radient-Technologies-Inc-Announces-Participation-in-a-Medical-Cannabis-Study-Led-by-the-University-Health-Network-in-Partnership-with-Shoppers-Drug-Mart.html
EDMONTON, Alberta, July 17, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a manufacturer of high quality cannabinoid-based formulations and products, is pleased to announce that bioU products by Radient will be available to patients in the recently announced University Health Networks’ (“UHN”) Medical Cannabis Real-World Evidence Study (“MC-RWE Study”) in partnership with Medical Cannabis by Shoppers. The first-of-its-kind study will involve a nation-wide clinical trial to examine the effects of medical cannabis on pain, sleep and anxiety issues.
Radient developed the bioU brand exclusively for Medical Cannabis by Shoppers and the products have been formulated to meet the highest levels of quality, consistency, and stability. All three oral spray formulations currently available on the Medical Cannabis by Shoppers site will be available to patients enrolled in the MC-RWE Study, providing patients with a variety of options in THC and CBD products in a convenient and standard dose format. As part of the study, all bioU products have undergone additional testing, with results registered on TruTrace Technologies software platform and integrated with the Medical Cannabis by Shoppers.
“Radient strongly believes that consistency, safety and standardization are key elements for all medical products, and are excited to partner with UHN, Shoppers and TruTrace on this groundbreaking study,” said Denis Taschuk, CEO of Radient Technologies. “Providing patients and medical professionals with trusted products that deliver repeatable results is a crucial step in having cannabis incorporated into medical treatments and is at the heart of all Radient products. Shoppers is creating a standard for medical cannabis, which along with the data from these clinical trials, will increase the confidence of both doctors and patients in using cannabis for medical purposes.”
About the UHN MC-RWE Study
Led by UHN's Dr. Hance Clarke, the observational study is targeting a minimum of 2,000 patients who will be followed over a 24-week period. Enrolled patients will have access to certain fully verified products on the Medical Cannabis by Shoppers platform, which have been tested for detailed cannabinoid and terpene profiles. Read more about the study here.
About Radient
Radient Technologies is a commercial manufacturer of high quality cannabinoid based formulations, ingredients and products. Utilizing a proprietary extraction and downstream processing platform that recovers up to 99% of cannabinoids from the cannabis plant, Radient develops specialty products and ingredients that contain a broad range of cannabinoid and terpene profiles while meeting the highest standards of quality and safety. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
For further information please contact:
Radient - Investor Relations
ir@radientinc.com
Forward Looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the Company’s participation in the MC-RWE Study; the Company’s ability to grow its business in the cannabis sector and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Related Articles
More articles issued by Radient Technologies Inc
More articles related to:
Company Announcement
MediPharm Labs Selected by University Health Network and Medical Cannabis by Shoppers Inc. for First Real-World Evidence, Patient-Centred Clinical Trial Using Blockchain Technology
https://www.globenewswire.com/news-release/2020/07/16/2063212/0/en/MediPharm-Labs-Selected-by-University-Health-Network-and-Medical-Cannabis-by-Shoppers-Inc-for-First-Real-World-Evidence-Patient-Centred-Clinical-Trial-Using-Blockchain-Technology.html
PR_July 16, 2020
MediPharm Labs is proud to have seven products which are made in its GMP-certified facility selected for inclusion in the Medical Cannabis Real-World Evidence (MC-RWE) Research Study led by the University Health Network in partnership with Medical Cannabis by Shoppers™; the products include: three MediPharm Labs formulated CBD oils plus four spays and formulated oils to be manufactured for Avicanna Inc.
TORONTO, July 16, 2020 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced its participation in a ground-breaking collaboration between University Health Network (“UHN”) and Medical Cannabis by Shoppers Inc. that will use blockchain technology to track medical cannabis products from seed to sale.
MediPharm Labs’ own pharma-quality (GMP Certified) CBD and THC products, including CBD 25, CBD 25:5 and CBD 50, first launched on the Medical Cannabis by Shoppers™ portal earlier this year, as well as a suite of Avicanna Inc's Rho Phyto™ CBD and THC products, manufactured by MediPharm Labs, have been selected to be used in a 24-week observational study targeting at least 2,000 Canadian medical cannabis consumers.
“As part of the largest pharmacy chain in Canada, the Medical Cannabis by Shoppers team is delighted to partner in this research with MediPharm Labs, a trusted name in the cannabis industry and a company with whom we have a strong commercial relationship,” said Ken Weisbrod, Vice President Business Development/Cannabis Strategy, Shoppers Drug Mart. "The success of this research is dependent on collaboration, and with partners like UHN, MediPharm Labs, TruTrace and Shoppers on board, the stage is set for achievement."
The collaboration will use a blockchain-secured software platform – designed by TruTrace Technologies Inc. (CSE: TTT)(OTCQB: TTTSF) (CSE: TTT)(OTCQB: TTTSF) and integrated with the Medical Cannabis by Shoppers portal – to manage, track and trace medical cannabis strains in 7 distinct products manufactured by MediPharm Labs, or about 20% of the study formulary, in various formats including oils and extracts throughout each step of the supply chain.
Robert Galarza, CEO, TruTrace Technologies commented, “The evolution of the medical cannabis industry over the past several years has been nothing short of remarkable and the commitment by MediPharm Labs to implement the highest level of product quality through certified GMP standards and protocols, as well as a desire to advance innovation, collaboration and technology alongside companies like ours will only further drive our industry forward. We are excited to explore how the power of dynamic and transparent data can support their initiatives in Canada and beyond.”
“This important study, conducted by one of the largest health research organizations in Canada, will have wide-reaching benefits for cannabis patients and MediPharm Labs as we remain dedicated to producing pharmaceutical-quality products that are rigorously tested and verified on a lot-by-lot basis using GMP certified standards,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Our view is that this study has the potential to enhance confidence in medical cannabis by giving physicians and patients true transparency into product chemistry, composition and effectiveness so that they can prescribe validated products and adjust their treatment regimens based on real-world evidence. We are proud to be a contributing partner with leaders in the fields of science, technology, medical dispensary and cannabis who have come together to make this study possible.”
About the UHN Study
This novel Medical Cannabis Real World Evidence study will look to match cannabis genetics, with defined cannabinoid and terpene profiles, to patient outcomes using validated questionnaires and scales. Patients enrolled in this study will have access to a wide range of products that have consistent genetic, chemical, cannabinoid and terpene profiles and will know exactly what is in their products down to the milligram of THC and cannabidiol. If a product in the study is effective for them, they can rely on it being identical, from batch to batch.
From this work, a national repository of real-time data about cannabis products, their composition and their effectiveness will be made available to Medical Cannabis by Shoppers’ patients.
Patients participating in the study will use the same ecommerce platform as other Medical Cannabis by Shoppers patients, though research participants will have access to the first fully verified products. First launched in Ontario in January 2019, Medical Cannabis by Shoppers (a subsidiary of Shoppers Drug Mart) provides patient access to numerous medical cannabis products from over 20 licensed cannabis brands. Cannabis medication can be ordered online or via phone, and is shipped directly and discreetly to their doorstep. The Shoppers Cannabis Care team – a dedicated call center staffed by cannabis-trained advisors and pharmacists - provides counselling and support for patients.
University Health Network consists of Toronto General, recently ranked the #4 Hospital in the World according to Newsweek Magazine, and Toronto Western Hospital, the Princess Margaret Cancer Centre, Toronto Rehabilitation Institute, and the Michener Institute of Education at UHN. The scope of research and complexity of cases at University Health Network has made it a national and international source of discovery, education, and patient care.
Why Traceability Is Important
Medical cannabis currently lacks assigned Drug Identification Numbers (“DINs”) that quantify attributes such as chemistry, genetics, and metabolomics. This information is critical for producers, distributors, government agencies, payers, clinicians, and patients. Maintaining an effective and interoperable traceability ecosystem built on reliable and immutable data provides safe and consistent medicine.
MediPharm Labs distinguishes itself as a supplier of medical cannabis through its GMP-certified production capabilities. This internationally recognized certification is only granted to companies that can demonstrate consistency, precision, and quality in all stages of production and are able to comply with GMP principles for manufacturing Active Pharmaceutical Ingredients and final medicinal products.
About TruTrace Technologies, Inc.
TruTrace (CSE: TTT / OTCQB: TTTSF) is a fully integrated software platform, secured on a blockchain infrastructure that gives clients the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory from batches and lots to serialized items. The platform was specifically designed to power the traceability of testing standards within the medical cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation.
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision -dosed cannabis products for its customers. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.
For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: 416-913-7425 ext. 1525
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68f0c6dd-6eda-49cc-8112-65a9add9179c.
Thanks, garrettf.
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