TruTrace Technologies Joins Forces with Customer Engagement Expert PharmaCentra to Provide a Blockchain-Secured Ecosystem for Medical Cannabis

TruTrace Technologies Joins Forces with Customer Engagement Expert PharmaCentra to Provide a Blockchain-Secured Ecosystem for Medical Cannabis

Companies will support quality-driven and traceability-focused clinical trials of cannabis-based therapies

March 01, 2021 09:00 AM Eastern Standard Time (for original article click here)

TORONTO–(BUSINESS WIRE)–TruTrace Technologies (CSE: TTT; OTCQB: TTTSF), developer of a fully-integrated blockchain platform for the legal cannabis, food, and pharmaceutical industries, today announced that it has signed a letter of intent (LOI) with Georgia-based PharmaCentra LLC – through its subsidiary CannabisBPO — to support a clinical trial ecosystem built on standardized protocols and testing of cannabis products for use in the medical industry.

“We recognized that our background and service suite were transferable and necessary skills for the maturing cannabis market”

“As cannabis gains acceptance as a useful component of therapies to treat serious medical conditions, it is critical to ensure that all products used for patient care are safe and consistent,” says Robert Galarza, CEO of TruTrace. “This partnership is an important step toward making that a reality because there will be repeatable, verifiable processes for measuring the efficacy of cannabis-derived compounds that the entire biopharma industry can use to improve the quality of the therapies that are available to people who need them.”

With decades of experience in the healthcare and pharmaceutical sector, PharmaCentra decided to enter the cannabis space several years ago and operationalized as CannabisBPO. “We recognized that our background and service suite were transferable and necessary skills for the maturing cannabis market,” says Dan Berman, CEO of PharmaCentra and CannabisBPO. “We have deep knowledge in both sectors to bridge the knowledge gap between the two industries. In the pharmaceutical industry, the efficacy of the supply chain is rarely questioned – it’s just assumed to be measured correctly. Unfortunately, the same is not true for the cannabis sector as a whole. That’s why, together with TruTrace, we are excited to be playing a key role in bringing these standards to the industry.”

About TruTrace Technologies

TruTrace Technologies is the developer of fully integrated software, 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. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation. For more information, please visit www.trutrace.co.

About PharmaCentra/CannabisBPO

PharmaCentra and CannabisBPO are specialty contact providers with specific industry domain expertise in the pharmaceutical, healthcare and cannabis sectors. PharmaCentra specializes in pharmaceutical marketing and sales strategies, strategic patient, pharmacy, and physician outreach including clinical trial recruitment, pharmacy locator, tele-detailing and comprehensive healthcare management strategies. CannabisBPO is a specialty provider of contact center services for the cannabis industry specializing in sales, customer care, lead generation, patient/customer journey and win back initiatives. With locations in Canada, the US and work-from-home, the company offers outbound and inbound contact center services in a 24/7 multilingual setting. For more information, visit www.pharmacentra.com and www.cannabisbpo.com.

Contacts
Corey Herscu for TruTrace Technologies
corey@verbfactory.com
(416) 300-3030

Robert Galarza
robert@trutrace.co
(888) 775-4888

Kim Christmas for PharmaCentra/CannabisBPO
kchristmas@pharmacentra.com
(678) 671-2019

TruTrace Technologies teams with Applied DNA Sciences to provide end to end validation of Cannabis

TruTrace Technologies and Applied DNA Sciences join forces to deliver complete cannabis product validation and authentication platform

The companies intend to link together the power of proprietary SaaS platforms, blockchain, and molecular tagging technology to create a secure ecosystem that provides end-to-end traceability and full transparency.

TruTrace Technologies Inc (CSE:TTT) (OCTQB:TTTSF) and Applied DNA Sciences Inc (NASDAQ:APDN) (FRA:UDJP) are teaming up to deliver a complete cannabis product validation and authentication platform.

 

Both companies plan to approach the cannabis industry with their integrated solution comprised of Applied DNA’s CertainT platform and TruTrace’s StrainSecure platform, which will be underpinned by linking together the power of proprietary SaaS platforms, blockchain, and molecular tagging technology to create a secure ecosystem that provides end-to-end traceability and full transparency.

The companies have entered into a Strategic Alliance, Referral, and Technology Integration Agreement that allows each one to introduce the other into existing accounts, prospects, as well as cultivate new joint opportunities.

READ: TruTrace Technologies announces the appointment of Allan O’Dette as board chairman and of Pradeep Sood as a director

The agreement also calls for the integration of the companies’ respective platforms through APIs to exchange data elements as part of the complete chain of custody solution from source materials to product on the shelf. There is a mutual payment structure in place as engagements are brought online.

TruTrace’s blockchain-based SaaS software is designed to guarantee product quality and strain genetics throughout global supply chains. Protecting consumers and brands from contaminants and counterfeiting is a key benefit of the platform under development.

For example, Shoppers Drug Mart, Canada’s largest retail pharmacy chain, currently uses TruTrace’s platform as its underpinning technology infrastructure for traceability and accountability associated with its medical cannabis program.

Applied DNA’s CertainT platform provides the physical tagging of cannabis products using a unique molecular tag to represent the brand and product. That tag is then tested at key nodes within a domestic or international supply chain. All of this authentication and chain-of-custody data is captured in the CertainT portal — which under the agreement will be integrated with the TruTrace platform.

The molecular tag can be applied to cannabis plants, oils, lotions, tablets, edibles, and packaging to serve as an immutable indicator of authenticity, origin, and provenance.

“We believe there are clear benefits for collaboration by our two companies to deliver a complete, end-to-end solution to cannabis companies,” said Dr James Hayward, CEO of Applied DNA, in a statement Tuesday. “We believe our combined solution will protect our clients’ brands and IP while also assuring the consumers use authentic and safe products.”

TruTrace CEO Robert Galarza added: “Partnering with Applied DNA is a natural progressing of our go-to-market strategy to align ourselves with best of breed technology solutions to bring additional value to our customers and the industry as a whole. CertainT is the perfect technology complement to our platform — providing that extra level of true transparency and traceability the industry needs as we enter the next phase of legalized cannabis across the globe.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

TruTrace Technologies and Applied DNA Sciences join forces to deliver complete cannabis product validation and authentication platform

TruTrace Technologies and Applied DNA Sciences join forces to deliver complete cannabis product validation and authentication platform

The companies intend to link together the power of proprietary SaaS platforms, blockchain, and molecular tagging technology to create a secure ecosystem that provides end-to-end traceability and full transparency.

TruTrace Technologies Inc (CSE:TTT) (OCTQB:TTTSF) and Applied DNA Sciences Inc (NASDAQ:APDN) (FRA:UDJP) are teaming up to deliver a complete cannabis product validation and authentication platform.

 

Both companies plan to approach the cannabis industry with their integrated solution comprised of Applied DNA’s CertainT platform and TruTrace’s StrainSecure platform, which will be underpinned by linking together the power of proprietary SaaS platforms, blockchain, and molecular tagging technology to create a secure ecosystem that provides end-to-end traceability and full transparency.

The companies have entered into a Strategic Alliance, Referral, and Technology Integration Agreement that allows each one to introduce the other into existing accounts, prospects, as well as cultivate new joint opportunities.

READ: TruTrace Technologies announces the appointment of Allan O’Dette as board chairman and of Pradeep Sood as a director

The agreement also calls for the integration of the companies’ respective platforms through APIs to exchange data elements as part of the complete chain of custody solution from source materials to product on the shelf. There is a mutual payment structure in place as engagements are brought online.

TruTrace’s blockchain-based SaaS software is designed to guarantee product quality and strain genetics throughout global supply chains. Protecting consumers and brands from contaminants and counterfeiting is a key benefit of the platform under development.

For example, Shoppers Drug Mart, Canada’s largest retail pharmacy chain, currently uses TruTrace’s platform as its underpinning technology infrastructure for traceability and accountability associated with its medical cannabis program.

Applied DNA’s CertainT platform provides the physical tagging of cannabis products using a unique molecular tag to represent the brand and product. That tag is then tested at key nodes within a domestic or international supply chain. All of this authentication and chain-of-custody data is captured in the CertainT portal — which under the agreement will be integrated with the TruTrace platform.

The molecular tag can be applied to cannabis plants, oils, lotions, tablets, edibles, and packaging to serve as an immutable indicator of authenticity, origin, and provenance.

“We believe there are clear benefits for collaboration by our two companies to deliver a complete, end-to-end solution to cannabis companies,” said Dr James Hayward, CEO of Applied DNA, in a statement Tuesday. “We believe our combined solution will protect our clients’ brands and IP while also assuring the consumers use authentic and safe products.”

TruTrace CEO Robert Galarza added: “Partnering with Applied DNA is a natural progressing of our go-to-market strategy to align ourselves with best of breed technology solutions to bring additional value to our customers and the industry as a whole. CertainT is the perfect technology complement to our platform — providing that extra level of true transparency and traceability the industry needs as we enter the next phase of legalized cannabis across the globe.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

To My Fellow Shareholders: As we embark into 2021…

Message from CEO and Director, Robert Galarza

To My Fellow Shareholders:

As we embark into 2021, I want to personally reach out and thank you for your continued support.

We entered into the previous year with some exciting accomplishments, including the completion of the first two phases of the medical cannabis verification pilot program (“Pilot Program”) with Medical Cannabis by Shoppers (“Shoppers”) and made considerable strides with great Licensed Producer partners like: Aphria (TSX: APHA), Aurora Cannabis (NYSE: ACB), Avicanna, Inc. (TSX: AVCN), Dosecann, The Flowr Corporation (TSXV: FLWR), Medipharm Labs (TSE: LABS), Organigram (TSX: OGI), Radient Technologies (TSXV: RTI), WeedMD Rx (TSXV: WMD) and Zenabis (TSX: ZENA). Prior to that, in 2019, we began working with Colombia based Clever Leaves (NASDAQ: CLVR) on using StrainSecure™, our blockchain-secured platform, to register and track their pharmaceutical-grade medical cannabis and hemp extracts for a broader global market.


We knew that the successful launch of the Pilot Program with Shoppers had provided us with a remarkable opportunity to tie the utilization of our technology as a central hub for asset tracking, validation, and product authentication, into a real-world study for patients.

Global pandemic or not, this was an opportunity we could not miss.

Shoppers and UHN: Medical Cannabis Real World Evidence

Early in 2020, University Health Network, led by Dr. Hance Clarke—Director of Pain Services, Toronto General Hospital—began working with Shoppers on a first of its kind study that would utilize blockchain secured products whose data would be rendered in real time into a digital portal for patients and practitioners. This would effectively connect real time chemistry and the genetic details of every product with the patients using them in the study. It became our sole focus as an organization to ensure the success of this project.

Our team began working fervently with the digital team at Loblaws and Shoppers to ensure that our platform could render all necessary data into their ecosystem while working with the exceptional team at Ample Organics to integrate our technologies and meet the needs of our mutual client.

At the same time, we also began working with several leading analytical laboratories, including: SGS Canada, Sigma Analytical, High North and Anandia Labs to expedite testing data from participating Licensed Producers. In addition, we began coordinating a standardized process for managing testing with a keen focus on Good Manufacturing Practices (GMP) as a core tenet for our future.

The culmination of these efforts was a successful launch of the Medical Cannabis Real-World Evidence (MC-RWE) clinical trial in early July, and a continued commitment to expand and refine this program going into 2021.

We are extremely proud of this accomplishment and believe it marks a big step in bridging the cannabis industry with the mainstream medical sector.

2020 Business Development

In addition to our work with Shoppers and UHN, and our expanding relationships with leading Licensed Producers and laboratories, we are also grateful for our ability to take advantage of the digital business processes unfolding worldwide. Through this technology, we were able to maintain and expand our relationship with partners like Deloitte Canada and Microsoft and continued to work with partners to refine our strategy for the emerging cannabis, food, nutraceutical and pharmaceutical industries. From hemp-derived CBD fitness water AKESO™ produced by NXT Water, to the emerging personal protective equipment (PPE) needs of Safe Company, and Hygen-X sanitization products manufactured and distributed by Riviera and West One Logistics, our commitment to transparency through innovative technology continues to serve as a hallmark of our organization.

OrionOne Global

Additionally, 2020 afforded us an opportunity to begin securing our long-term future by finalizing critical intellectual property rights, and implementing a strategy that would support a broader international business model.

In July, we secured a software-license agreement with OrionOne Global, Inc., (“OrionOne”) a technology provider with a cloud based multi-enterprise collaborative logistics platform that acts as a smart-hub for navigating shipments and logistics within the global supply chain. This license not only provides us with critical technology to support commercialization of our core products, but also creates new opportunities to work with clients focusing on imports and exports. An example of this was our collective participation in a pilot launched in August by Avicanna. This project focused on utilizing our joint technologies to support the traceability of Avicanna’s isolated CBG exports from Colombia to the United States, as well as commercial exports of isolated CBD from Columbia to the United States. We believe this initiative is a first of its kind example of how these mutual technologies can function in a broader international context, especially as the legal landscape of cannabis and hemp-derived products continues to grow.

The Road Ahead

Heading into 2021, we are continuing to make operational improvements that we consider to be in the best interest of our shareholders with a focus on increasing revenue and expanding our business. We are extremely optimistic about the changing sentiment we are seeing around our technology, as well as the cannabis industry overall.

A more refined approach to the commercial utilization of blockchain, combined with the glaring supply chain issues highlighted during the global pandemic have started to bear fruitful discussions about the expansive potential of this technology. We are very optimistic that companies and industries will continue to invest in this future. Furthermore, despite the early growing pains that the Canadian cannabis market faced, we are seeing a renewed commitment to rectifying early mistakes and bringing forth a future dedicated to meeting the needs of patients and customers.

To our shareholders, partners and allies within the cannabis community, and the entire Medical Cannabis by Shoppers team, we thank you for your unwavering support and for sharing our vision. Our promise to each of you is to remain committed to a successful future for us all.

We have a renewed optimism for the changes evolving in the Canadian market, as well as potential evolution we hope to see in the United States and beyond. We believe we are perfectly positioned to take advantage of these opportunities. We are starting 2021 with industry validation, critical product adoption and an ecosystem of partners and affiliates looking to mature our industry together.

Additionally, we are extremely excited to be joined by remarkable leaders of industry at the Company’s Board level. Early in 2020, we had the fortunate opportunity to be joined by Cesare Fazari, a seasoned entrepreneurial strategist with a career of completing turnkey projects for Shoppers Drug Mart, Marshalls, Trade Secret and Public Mobil. Most recently, we’ve had the privilege of welcoming two key new board members to help guide the Company into the future. Mr. Allan O’Dette, current CEO of the Ontario Medical Association has joined as our new Chairman of the Board, and successful entrepreneur, business leader and community activist Mr. Pradeep Sood is serving as an independent director. It has been one of the great honours of my career to begin working with these three esteemed leaders of industry. Their personal integrity and professional ethics serve as a compass and guide for our future.

In summary, TruTrace is well-positioned for the year ahead. Our newly refined leadership, market validation and renewed strategy, provides us with the catalyst required to capitalize on the opportunities we expect to see in the near future. The TruTrace name has begun to garner industry recognition amongst manufacturers, distributors, regulators and consumers, and we are thrilled about our prospects.

Finally, it cannot be stated enough that this year could not have been achieved without the remarkable professionalism and personal dedication of our team. The countless hours of sacrifice and effort combined with the grit and determination of each one of you allowed us to fulfill some remarkable accomplishments through an unconventional year. I cannot thank you enough for your commitment to our company and our future.

I look forward to continuing to serve you all and keep you abreast of our progress throughout the year.

Best regards,

Robert Galarza

Chief Executive Officer and Director

TruTrace Technologies, Inc.

TruTrace Technologies Reports Financial Results

Financial Results for Year Ended April 30, 2020

Toronto, Canada – TheNewswire – October 13, 2020 – TruTrace Technologies Inc. (CSE:TTT); (CNSX:TTT.CN); (OTC:TTTSF) (“TruTrace” or the “Company”), www.trutrace.co, creator of 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, as well as motion and movement intelligence on inventory, announces its financial results for the quarter ended January 31, 2020 and for the year ended April 30, 2020 (the “Annual Filings”). All figures are stated in Canadian dollars.

Management would like to address the recent Cease Trade Order which was a result of a misunderstanding that arose regarding the relief granted by the 45-day extension which was provided by Canadian Securities Administrators and Ontario Instrument 51-502: Temporary Exemption for Certain Corporate Finance Requirements (the “Temporary Relief”). On August 28, 2020, the Company announced that it was relying on the Temporary Relief from periodic filings normally required to be made by issuers due to the challenges posed by the COVID-19 pandemic, thereby effectively giving the Company until October 12, 2020 to complete its Annual Filings. Unfortunately, the Temporary Relief did not provide any relief from the September 29, 2020 deadline to file financial results for the three months ending July 31, 2021 (the “Quarterly Filings”). By relying on the Temporary Relief, management was unable to file the Quarterly Filings in a timely fashion as they could not be filed prior to the Annual Filings. Notwithstanding, management assures that it has prepared and will submit its Q1-2020 filings by the end of the day.

“We are extremely proud of what our team has endured and accomplished in our second full year of operations”, said TruTrace Technologies CEO Robert Galarza. “Our development of a comprehensive platform for tracking the quality of medical cannabis and the functional implementation into the traceability initiative of Medical Cannabis by Shoppers Drug Mart illustrates that our technology will serve as a cornerstone for verified, transparent and collaborative products within the cannabis sector. It has been a pleasure collaborating with some of the top Licensed Producers and analytical laboratories in Canada, as well as industry leaders like Deloitte Canada and we are excited about what the future has in store for TruTrace.”

Financial Highlights

  • – The Company generated revenue of $402,679 in fiscal 2020, compared to $10,000 in fiscal 2019.

    – Comprehensive loss was $4.59 million for the year, compared to $14.8 million in the prior period. Significant fiscal 2020 operating expenses included $2.07 million of product development costs, $814,485 in salaries, subcontractors and benefits and $762,554 of corporate development costs.

    – Net comprehensive loss was $4.5 million in fiscal 2020, compared to $14.8 million in the prior period. The variance as compared to the prior period was due to a reduction in operational expenses and development costs and a significant increase in revenue.

    – Funds used in operations totaled $4 million for the year, compared to $9 million in the prior period.

Fiscal 2020 Operating Highlights

  • – In June 2019, Canada’s largest pharmacy chain, Shoppers Drug Mart (“Shoppers”) announced the development and implementation of a Pilot Program with TruTrace which would utilize the Company’s proprietary StrainSecure(TM) platform in order to provide detailed inventory data to Shoppers as a part of their Medical Cannabis initiative thereby bringing a greater level of transparency and trust to medical practitioners throughout Canada. Thereafter, the Company successfully completed Phase 1 and Phase 2, and began Phase 3 of the Pilot Program with Shoppers.

    – In September 2019, TruTrace and global leader Deloitte announced a strategic alliance to deliver blockchain product traceability solutions to the cannabis industry. Deloitte has been a leading voice in cannabis intelligence and research and has advised and consulted clients at every level of the cannabis supply chain. TruTrace and Deloitte are actively working on several exciting initiatives.

    – The Company began working with several analytical testing laboratories, including: Anandia Laboratories, A&L Canada Laboratories, Inc., Molecular Science Corp. and Sigma Analytical with the goal of delivering greater transparency and visibility regarding the quality of products offered in the legal cannabis industry.

    – In conjunction with the Shoppers Drug Mart Pilot Program, the Company entered into agreements with several Licensed Cultivators of medical and recreational cannabis who agreed to employ the StrainSecure(TM) platform in order to collect, register, manage, track and publish verified testing data of their products, including: Aphria, Inc., Tilray Canada, Inc., WeedMD Inc. and Aurora Cannabis.

    – Internationally, the Company entered into an agreement with Columbia-based Clever Leaves, a leading vertically integrated global company and fully licensed producer of pharmaceutical-grade medical cannabis and hemp extracts with an aim to explore ways to employ the StrainSecure(TM) platform throughout Clever Leaves’ international operations.

    – The Company added key talent to its advisory board with the addition of regulatory and industry expert Deepak Anand, as well as the addition of experienced entrepreneur Cesare Fazari to its Board of Directors.

Subsequent Events

  • – In June 2020, the Company successfully negotiated a debt settlement with its primary development vendor in exchange for common shares of TruTrace thereby ensuring valuable intellectual property rights to the StrainSecure(TM) platform and securing its lead technology partner for future development.

    – In July 2020, the Company entered into a software license agreement with OrionOne Global, Inc., a global supply chain technology solution, which would not only ensure the long-term functionality of the StrainSecure(TM) and TruTrace Enterprise(TM) systems but should also open up several market opportunities for TruTrace in other key industries.

    – In July, 2020, University Health Network (UHN), a leading health research organization announced the launch of a first-of-its-kind Real-World Evidence study led by Dr. Hance Clarke, Director of Pain Services, Toronto General Hospital, and a recognized leader in educating Canadians about chronic pain management and the risk factors of continued opioid use. The study is in collaboration with Medical Cannabis by Shoppers and supported by the Company’s StrainSecure(TM) platform. By utilizing TruTrace, the study will be able to tie batch/lot specific product data to individual patient use.

    – The Company announced the inclusion of several additional Licensed Producers within the Real-World Evidence study in alignment with UHN and Shoppers including: MediPharm Labs Inc., Organigram Holdings, Inc., and Avicanna, Inc. amongst others.

    – In August 2020, the Company began showcasing its capabilities well beyond the cannabis sector by announcing implementation of the Company’s proprietary software by Riviera and West One Logistics regarding the delivery of quality sanitization products, as well as Safe Company in their mission to ensure the quality of medical and protective consumables, hospital supplies and air purification solutions.

Outlook

“The role of TruTrace in a ground-breaking medical cannabis study and its use and implementation by a top tier client base has begun to prove our value to the entire medical community,” said Robert Galarza. “It is now time to evolve our platform not only into an industry benchmark in the medical cannabis sector, but as a benchmark for quality in several other key markets.”

The Company’s goal is to build a framework for licensed producers and manufacturers, helping them to easily and inexpensively track their products throughout the testing process. TruTrace then places verified testing data on the blockchain for immutability and intellectual property protection and feeds that information through the ecosystem for full visibility throughout the supply chain. The resulting outcome is a trustworthy source of product and inventory data that can be used to support anything from clinical trials to medical efficacy studies, as well as providing regulators, medical practitioners, patients and even retail consumers a much-desired level of actionable intelligence. With TruTrace, all parties can see whether a product is clean, safe, pesticide-free and truly is what it claims to be.

More detailed financial information and analysis with respect to TruTrace’s results of operations are available in its audited financial statements and management’s discussion and analysis for the period ended April 30, 2020, both of which can be found on SEDAR at www.sedar.com.

About TruTrace Technologies www.trutrace.co:

TruTrace Technologies is the developer of a fully integrated software platform, secured on the blockchain, offering 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. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation.

For More Information:

Robert Galarza, CEO

Tel: 888-775-4888

Email: info@trutrace.co

Twitter: @TruTraceTech

LinkedIn: @trutracetech

Facebook: https://www.facebook.com/TruTrace/

Instagram: @trutracetechnologies

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 current economic climate and its effect on the Company’s client base business; that the Company’s technology will serve as a cornerstone for verified, transparent and collaborative products within the cannabis sector; that the software license agreement with OrionOne Global, Inc. should also open up several market opportunities for TruTrace in other key industries; the Company’s ability to successfully acquire new customers; the Company’s ability to successfully implement its technology, specifically the StrainSecure(TM) and TruTrace Enterprise(TM) Software as a Service (SaaS) solutions; management’s assumptions regarding the sustainability of recurring revenue streams; that our technology will play an instrumental role in empowering manufacturers, licensed producers, medical practitioners, regulators and consumers with information regarding the quality of products in their respective market; the Pilot Program is intended to increase transparency, interoperability and product identification within the medical cannabis industry; the Pilot Program will use the Company’s StrainSecure(TM) technology as a central hub for identity management, asset tracking, validation, and product authentication; StrainSecure(TM) will also serve as a master registry for standardized testing, product verification, and quality assurance; other LPs are expected to be announced as participants in the Pilot Program; that a number of prospective partners are expected to contribute to the successful implementation of the Company’s technology; the Company’s expectation that the Pilot Program will enable it to demonstrate the value of its technology platform to a broad cross-section of the industry; and the Company’s expected profitability. 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.

TruTrace and Safe Company to Bring Product Validation to Personal Protective Equipment

TORONTO–(BUSINESS WIRE)–TruTrace Technologies, developer of a fully-integrated blockchain platform for the legal cannabis, food and pharmaceutical industries, today announced that medical distributor, Safe Company, has 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.

Since the first wave of the COVID-19 global pandemic, there has been an exponential rise in the need for experienced and qualified manufacturers. Safe Company’s implementation of TruTrace software will provide reliable and dynamic data to its customers and partners. Each Safe Company product will be affixed with a unique Quick Response (QR) code and TruTrace verification seal that can be scanned to obtain immediate test results and all-encompassing quality details on every order, which can then be shared.

Over the past year we have seen a dramatic change in the way we live. The regular use of personal protective equipment (PPE) has become synonymous with how we will all adapt to a ‘new normal’ life,” said Robert Galarza, CEO of TruTrace. “It is therefore critical for quality products and experienced manufacturers to separate themselves from the opportunists. Safe Company brings forth the highest standards, and TruTrace is honored to be working together to secure and validate the quality of its products.”

About TruTrace Technologies

TruTrace Technologies is the developer of a fully-integrated software platform, secured on the blockchain, offering 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. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation.

For more information, please visit www.trutrace.co and www.safe-company.com.

Proactive: TruTrace Technologies working with Riviera & West One Logistics to launch sanitizer products

TruTrace Technologies (CSE:TTT) (OTCQB:TTTSF) CEO Robert Galarza tells Proactive the developer of a fully-integrated blockchain platform for the legal cannabis, food and pharmaceutical industries has said it is teaming up with Riviera & West One Logistics to ensure the highest quality for its line of products including Hygen-X hand and surface sanitizer products. Galarza says TruTrace’s launch with the company will mark the first implementation of its proprietary TruTrace Enterprise SaaS platform in sectors outside of the medical cannabis sector.

TruTrace Technologies Ensures Consumer Safety for Riviera Beverages

TORONTO–(BUSINESS WIRE)–TruTrace Technologies (CSE: TTT; OTCQB: TTTSF), developer of a fully-integrated blockchain platform for the legal cannabis, food and pharmaceutical industries, today announced that it has teamed with Riviera & West One Logistics to ensure the highest quality for its line of products including Hygen-X hand and surface sanitizer products. Riviera is a leading provider of bottled products in North America and overseas from an FDA-licensed facility in Southern California. TruTrace’s launch with the company will mark the first implementation of its proprietary TruTrace Enterprise™ SaaS platform in sectors outside of the medical cannabis sector.

Because of the COVID-19 pandemic, there has been a dramatic rise in the need for quality hand and surface sanitizer products around the world. Unfortunately, this high demand has also created a lineage of substandard products, highlighted by the FDA’s recent warnings about deficient and even dangerous products in the market. As a result, Riviera, in association with West One Logistics Hygen-X, has made transparency and product validation a top priority.

“Our vision when we started TruTrace was to provide transparent data on the quality of products of all types,” said Robert Galarza, CEO of TruTrace. “In light of the COVID-19 pandemic, we have seen a market flooded with disinfectants that are sub-standard, which is unacceptable. We are thrilled to be a catalyst for change in supporting top quality manufacturers like Riviera in their effort to distinguish from other operators.”
About TruTrace Technologies

TruTrace Technologies is the developer of fully-integrated software, 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. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation.

For more information, please visit www.trutrace.co.

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 TruTrace, such as statements that TruTrace’s launch with Riviera and West One Logistics will mark the first implementation of its proprietary TruTrace EnterpriseTM SaaS platform in sectors outside of the medical cannabis sector; and that TruTrace will be a catalyst for change in supporting top quality manufacturers like Riviera in their effort to distinguish from other operators. There are numerous risks and uncertainties that could cause actual results and TruTrace’s plans and objectives to differ materially from those expressed in the forward-looking information, including adverse market conditions and other factors beyond TruTrace’s control. 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. TruTrace 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.

Contacts
Corey Herscu for TruTrace Technologies
corey@verbfactory.com
(416) 300-3030

Robert Galarza
robert@trutrace.co
(888) 775-4888

New Cannabis Ventures: Organigram Partners with Shoppers in Medical Cannabis Pilot Program

Organigram Joins Medical Cannabis by Shoppers Inc. and TruTrace in Effort to Track Source and Genetics of Cannabis Used by Medical Patients.

Project aims to match therapeutic outcomes to specific cannabis profiles and ensure consistent product for patients and healthcare practitioners…

Using Trutrace’s StrainSecure™ system, the program 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 technology…

In the absence of assigned drug identification numbers (DIN) for cannabis products, quantifying the genetics and metabolomics, as well as potency and equivalencies of cannabis products is of interest to producers, distributors, shippers, government agencies, payers, clinicians and patients.

“Maintaining an effective traceability ecosystem about these details throughout the supply chain is a component of providing consistent medicine,” says Engel.

Using TruTrace technology, Shoppers has partnered with University Health Network in Toronto (UHN) to launch ‘Medical Cannabis Real World Evidence’ (MCRWE), a new ground-breaking study on cannabis and health which will track outcomes with TruTrace validated product for the first time in history.

This novel 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.  More information about the study can be found here.

Business Insider: Canada’s largest drugstore chain is partnering with a tech company to create an online database to track cannabis quality

“There is a stigma around recommending cannabis to patients in Canada. While medical cannabis has been legal in Canada for 19 years, doctors still feel uncertain authorizing its use to patients. 

Shoppers Drug Mart, Canada’s largest drugstore chain, is partnering with product quality and verification testing company TruTrace to create an online database to track cannabis quality.

The goal is to collect data on cannabis products from seed to sale, including a detailed chemistry and genetics of the plant and its metabolomic signatures, to understand what types help which patients.

“There was this idea that it was going to fix everything from Parkinson’s to Alzheimer’s to osteoarthritis to multiple sclerosis, but where’s the evidence?” said Dr. Hance Clark, who’s been working with Shoppers for the past four years. “The answer is, there isn’t much. It’s all anecdotal. So then the question is, how could we do this better, how could we change the system?”…

Shoppers Drug Mart, Canada’s largest drugstore chain, is attempting to mitigate confusing guidelines and information around cannabis use with a new partnership with the California based TruTrace, which does product quality and verification testing. The two are creating a new online portal, called Medical Cannabis By Shoppers Drug Mart, accessible to both patients and doctors that will track exactly what strains of flower, how many milligrams of THC, and what kinds of chemicals are in the products…”