Deloitte and TruTrace Technologies Inc. form strategic alliance

TORONTO, Sept. 4, 2019 /CNW/ – Deloitte and TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) (“TruTrace”) have announced a strategic alliance to deliver blockchain product-traceability solutions to the cannabis industry. The alliance will improve clients’ ability to build trusted brands, ensure medical and recreational distributors and retailers receive accurate shipments, and provide consumers with confidence they are buying verified products from credible sources.

Cannabis legalization in Canada has resulted in exciting opportunities and innovations for industry stakeholders, as well as complex business challenges. One of the main challenges facing the industry is strain security—ensuring the product in the store matches its promised origin. For the Canadian cannabis industry to be transparent and reliable, both retailers and consumers need to know what they are buying.

Using its StrainSecure™ system, the TruTrace team collects plant-testing data and performs genomic verification in plant batches. The information is 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, is tracked along the supply chain, from seed to sale.

The StrainSecure™ platform also streamlines the administrative process of genetic and mandatory quality-control testing for legal cannabis, significantly reducing administrative time and expenses.

“It is essential for companies bringing emerging technology to market to find the best partners to grow with, and we are very excited about our alliance with one of the most respected names in global business,” says Robert Galarza, CEO of TruTrace. “By working together to rapidly scale the adoption and implementation of our technology, we are confident that we can bring a greater level of traceability and trust to this evolving industry.”

Deloitte’s leadership in the cannabis space will expedite the ability of this technology to reach key stakeholders, helping increase transparency in business decisions for everyone along the supply chain.

“This technology builds trust in the cannabis industry, not only between producers and retailers but also between retailers and consumers,” says David Stewart, a partner in Deloitte Canada’s Forensics practice. “We’re pleased to be able to play an integral role in helping all stakeholders in the cannabis space increase business performance and reputation while keeping consumers safe.”

About Deloitte

Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights and service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals—9,400 of whom are based in Canada—make an impact that matters, please connect with us on LinkedIn, Twitter or Facebook.

Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

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.

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 TruTrace and Deloitte strategic alliance, and its ability to improve cannabis quality control and safety for retailers and consumers, improve clients’ ability to build trusted brands, ensure medical and recreational distributors and retailers receive accurate shipments, provide consumers with confidence they are buying verified products from credible sources, bring a greater level of traceability and trust to the cannabis industry, help stakeholders increase business performance and reputation, and expedite the ability of StrainSecuretm technology to reach key stakeholders and help increase transparency in business decisions for everyone along the supply chain. Although TruTrace 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 TruTrace 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 TruTrace ‘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 TruTrace. 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. 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.

SOURCE TruTrace Technologies Inc.

For further information: Kyle Wyskiel, Deloitte, 416-354-1574, kwyskiel@deloitte.ca; Yasmine Gholam, Deloitte, 514-393-7049, ygholam@deloitte.ca; 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

Segra International to be a Lead Genetics Partner in Pilot Traceability Program for Medical Cannabis

Segra International to be a Lead Genetics Partner in Shoppers Drug Mart and TruTrace Technologies Pilot Traceability Program for Medical Cannabis

 

TORONTO and VANCOUVERAug. 28, 2019 /CNW/ – TruTrace Technologies Inc. (CSE: TTT; 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 Segra International Corp. (“Segra“), an agriculture technology company, today announced that the two companies have entered into a letter of intent (“LOI“) to establish Segra as a primary genetics verification provider for TruTrace.

Pursuant to the LOI, Segra will be a lead genetics partner in the Shoppers Drug Mart (“Shoppers“) and TruTrace Technologies medical cannabis verification pilot program recently announced at the World Cannabis Congress (the “Pilot Program“). The Pilot Program is intended to increase transparency, interoperability and product identification within the medical cannabis industry.

Segra will extract DNA from cannabis samples processed at its Genotyping and Molecular Lab Services Division and will provide unique DNA fingerprint codes, allowing for objective confirmation that as-supplied lots of cannabis remain isogenically pure to original reference material.

“Genetic verification is an essential element of our goal to establish traceability and help medical professionals match therapeutic outcomes to specific genetic and chemical profiles,” said TruTrace Technologies CEO Robert Galarza. “As the program scales, we need genetic testing to be completed quickly, efficiently and reliably, and we believe Segra is the right partner to deliver on each of these attributes.”

“Reliable customer experience lot-to-lot is crucial both for the consumer, and for the seller – particularly with cannabis, where individuals often must initially determine variety and dosing to meet their needs,” said Dr. John Brunstein, Segra’s Chief Scientific Officer. “We’re excited to be able to apply our genetic tracking method to assist TruTrace, Shoppers Drug Mart and the participating LPs in this Pilot Program as part of a comprehensive solution to this need.”

The Pilot Program will use 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.

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 Segra International:

Segra is an agriculture technology company offering innovative services that accelerate the advancement of the cannabis industry to better serve society. The company’s plant tissue culture and genomics technologies, coupled with a vast business ecosystem, empower its clients to drive financial performance and mitigate risk, while exploring the next frontiers of optimized cultivation practices for the rapidly evolving medical, recreational, and hemp markets. Segra is developing industrial-scale facilities to produce disease-free, robust, and DNA fingerprinted cannabis plantlets for licensed producers globally. To support this vision, Segra has assembled a world-class team of specialists in the fields of agronomy, molecular genetics, plant tissue culture, and regulatory compliance. Segra currently has agreements with many leading global cannabis producers, including the Canadian licensed producers HEXO Corp., Agripharm Corp., and The Supreme Cannabis Company Inc.

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: Segra’s participation in the Pilot Program; that use of the platform is intended to enable Segra to provide final test data on medical cannabis products validating the functionality of the TruTrace platform and meeting the quality assurance requirements of Shoppers and the Canadian consumer; and the ability of TruTrace Technologies’ platform to bring transparency and integrity to the 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 Segra’s participation in the Pilot Program may not result in the expected results of the Pilot Program or support the quality assurance mandate of Shoppers; whether sufficient numbers of researchers, clinicians, physicians, pharmacists and patients will be available to participate in the Pilot Program; potential negative results of the Pilot Program; adverse industry events; loss of markets; future legislative and regulatory developments in Canadathe 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.

For further information: TruTrace Technologies Inc: Robert Galarza, Chief Executive Officer and Director; Media Relations: Lori Harito, RNMKR Agency, 416-523-9602, lori@rnmkr.agency; Investor Inquiries: Swapan Kakumanu, Chief Financial Officer, 403-681-2549, swapan@trutrace.co; Segra International: Carson Otto, Business Development Associate, info@segra-intl.com

TruTrace Technologies Announces Fiscal 2019 Financial and Operating Results

TORONTOAug. 23, 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 its financial and operating results for the year ended April 30, 2019.  The Company operated as BLOCKStrain Technology Corp. until April 2019 when it changed its name to TruTrace Technologies Inc. All figures are stated in Canadian dollars.

“We are very proud of what our team has accomplished in our first full year of operations, advancing from a start-up to the developer of a comprehensive platform for tracking cannabis from genome to sale,” said TruTrace Technologies CEO Robert Galarza. “Our momentum has continued into fiscal 2020, highlighted by the recent commencement of the Shoppers Drug Mart medical cannabis traceability pilot program. I believe our technology will play an instrumental role in empowering producers, medical practitioners, regulators and consumers with information regarding what truly is in the cannabis products in the market.”

Financial Highlights

  • The Company generated revenue of $10,000 in fiscal 2019, compared to nil in fiscal 2018.
  • Comprehensive loss was $14.8 million for the year, compared to $0.5 million in the prior period. Significant fiscal 2019 operating expenses included $4.3 million of corporate development costs, $3.2 million of stock-based compensation and $2.2 million of product development costs. The Company also incurred $2.3 million of non-recurring listing charges in Q1 2019 related to its reverse takeover.
  • Loss before listing expenses, impairment and stock-based compensation was $9.2 million in fiscal 2019, compared to $0.5 million in the prior period. The variance as compared to the prior period was due to having a full year of expenses in 2019 compared to having only start-up product development costs and travel costs in 2018.
  • Funds used in operations totaled $9.0 million for the year, compared to $0.5 million in the prior period.
  • Cash on hand was $1.2 million as at April 30, 2019, compared to $25,109 at April 30, 2018.

Fiscal 2019 Operating Highlights

  • In May 2018, the Company completed its Qualifying Transaction, raised gross proceeds of $10.5 million through the issuance of 35 million common shares, and began trading on the TSX Venture Exchange.
  • In May 2018, the Company announced that WeedMD was the first licensed producer (“LP”) to join its platform, and in October 2018, the Company announced the formal launch of its proprietary genome tracking software following the collection of WeedMD’s cannabis plant DNA. Testing began in November 2018 and the ‘first-of-its-kind’ cannabis strain validation registration program was completed by January 2019.
  • In January 2019, the Company began working with California-based NXT Water to begin validating the hemp-derived CBD fitness water, AKESO.
  • In February 2019, the Company announced that Harvest One/United Greeneries had joined its Genome Strain and Clone Registration Program.
  • In February 2019, prior to the formal rebrand to TruTrace Technologies, BLOCKStrain was featured in GeorgiaStraight Cannabis for its platform capabilities and how it is bringing accountability to the industry. Additional highlights included a March 2019 feature in The Growth Op on the TruTrace platform and how it helps LPs stay accountable, and CEO Robert Galarza’s participation on a panel about leveraging technology for accountability at Toronto’s O’Cannabiz Conference in April 2019.
  • In February 2019, the Company entered into a non-binding letter of intent to acquire all of the securities of privately-held Spark Digital Technologies Inc., owner of the IgnitePro™ platform, which is expected to combine with the Company’s technology to establish a more robust, full-service offering and ensure regulation and compliance standards are being met and protected on the blockchain.
  • The Company added key talent to its leadership team, including Swapan Kakumanu as Chief Financial Officer, Dr. James LaValle as Chief Medical Manager and Dr. Gina Conte as Director of Genetics, as well as cannabis industry pioneer Derek Pedro to the Advisory Board. Mr. Kakumanu and James Carter joined the Board of Directors.

Subsequent Events

  • In June 2019, Shoppers Drug Mart announced an initiative to develop and deploy a blockchain-secured pilot program intended to increase transparency, interoperability and product identification within the medical cannabis industry (the “Pilot Program”). The Pilot Program will use the Company’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.
  • A number of LPs have been announced as participants in the Pilot Program, including: WeedMD, Zenabis Global, Inc., United Greeneries and The Flowr Corporation, with other LPs expected to be announced in the coming weeks.
  • The Company has signed agreements with a number of prospective partners expected to contribute to the successful implementation of its technology, including demand-side cannabis data and analytics company Strainprint Technologies Ltd., analytical testing provider and Molecular Science Corp., genomics technology company Shivom Ventures Limited, cannabis consultancy and technology firm TheraCann International Benchmark Corporation, analytical services company A&L Canada Laboratories and cannabis testing lab Anandia.
  • In June 2019, the Company delisted from trading on the TSX Venture Exchange and began trading on the Canadian Securities Exchange in order to pursue development opportunities outside of Canada. In July 2019, the Company commenced trading on the OTCQB® Venture Market under the symbol TTTSF, and expects that this listing will provide TruTrace with increased visibility with prospective global investors, improved liquidity and a more diversified shareholder base.
  • Mr. Galarza continued to establish himself as a thought leader on accountability in the cannabis industry through a May 2019 appearance at MaRS Discovery in Toronto about trust, the Blockchain, and how TruTrace has successfully married cannabis to the platform.
  • In August 2019, the Company closed the first tranche of a non-brokered private placement financing raising gross proceeds of $510,000.

Outlook

“Our role in the Pilot Program has been tremendously important for TruTrace, and we expect it to enable us to demonstrate the value of our technology platform to a broad cross-section of the industry,” said Robert Galarza. “We are beginning to see traction in the U.S. as we continue to evolve our platform in an effort to become the industry benchmark.”

With the launch of its platform, TruTrace offers an easily-integrated blockchain solution that tracks cannabis from Genome to Sale™ through the supply chain and provides actionable quality assurance and real-time testing data to the cannabis industry.

The Company’s goal is to build a framework for licensed producers as well as micro cultivators that are entering the newly legalized ecosystem, helping them to easily and inexpensively move their products through testing procedures. TruTrace then places that testing data on the blockchain for immutability and intellectual property protection, and feed that information through the ecosystem for full visibility into 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, 2019, both of which can be found on SEDAR at www.sedar.com.

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.

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 Corporation’s client base business; the Corporation’s ability to successfully acquire new customers; the Corporation’s ability to successfully implement its technology; Management’s assumptions regarding the sustainability of recurring revenue streams; that our technology will play an instrumental role in empowering producers, medical practitioners, regulators and consumers with information regarding what truly is in the cannabis products in the market; the IgnitePro™ platform is expected to combine with the Company’s technology to establish a more robust, full-service offering and ensure regulation and compliance standards are being met and protected on the Blockchain; 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™ 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; other LPs are expected to be announced as participants in the Pilot Program in the coming weeks; 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 Corporation’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 Canadathe 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.

For further information: 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

TruTrace Technologies Closes First Tranche of Private Placement

VANCOUVER, Aug. 23, 2019 /CNW/ – TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) (“TruTrace” or the “Company“) today announced that it has closed a first tranche (the “First Tranche“) of a non-brokered private placement financing (the “Financing“).  The First Tranche consisted of 2,040,000 units (each, a “Unit“) of the Company at a price of $0.25 per Unit for gross proceeds of $510,000. Each Unit consists of one common share and one non-transferable common share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder to purchase one additional common share at a price of $0.30 per common share for a period of three (3) years from the closing of the Financing. The Company expects to close a second tranche of the Financing in a timely manner.

The Company paid cash finder’s fees of $7,500 to certain finders in connection with the closing of the First Tranche.

The Company intends to use the funds received from the First Tranche for general working capital.

All securities issued in the First Tranche are subject to a statutory hold period expiring December 23, 2019.

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.

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, such as statements that the Company expects to close a second tranche of the Financing in a timely manner and the intended use of the funds received from the First Tranche. 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: (i) adverse market conditions; or (ii) the inability of the Company to close a second tranche of the Financing in a timely manner at all or on the terms announced. 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 laws.

SOURCE TruTrace Technologies Inc.

For further information: 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

TruTrace Technologies and Anandia to Collaborate on Analytical and Genetic Testing for Cannabis

TORONTOAug. 20, 2019 /CNW/ – TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) (“TruTrace“), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, today announced that it has signed a letter of intent (“LOI“) to establish a strategic working relationship with Anandia Laboratories Inc. (“Anandia“). The two companies intend to collaborate on an integrated testing solution in relation to TruTrace’s development of a blockchain-secured traceability ecosystem for the cannabis industry.



Anandia is considered an industry leader in science, genetics, and independent cannabis product testing. Pursuant to the LOI, Anandia will serve as a primary analytical and genetic testing partner in the TruTrace ecosystem. The parties will also explore ways to work together on rapidly expediting and optimizing the testing processes under the Cannabis Act (Canada) as set forth by Health Canada, as well as evolving genetic testing practices in the cannabis industry.

Anandia is also expected to be one of the featured testing facilities in the Shoppers Drug Mart (“Shoppers”) and TruTrace Technologies medical cannabis verification pilot program (the “Pilot Program”). As announced by Shoppers at the second annual World Cannabis Congress, the Pilot Program is built on TruTrace’s proprietary StrainSecure™ platform, which focuses on testing and verification to confirm the origin, authenticity and quality assurance of cannabis products.

“We are very excited to have Anandia join us as a testing partner in the StrainSecure ecosystem,” said TruTrace Technologies CEO Robert Galarza. “Its genetic testing expertise and capabilities combined with its full range of analytical testing makes it a ‘one-stop shop’ that we expect will play an important role in our traceability program.”

“Establishing a comprehensive traceability program is an important step for the cannabis industry in offering full transparency and verification for patients and consumers,” said Dr. John Coleman, Anandia President and Co-Founder. “We are supportive of these objectives and look forward to working with TruTrace, Shoppers and others in the Pilot Program.”

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.

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 Anandia:

Already the industry leader, Anandia is the largest dedicated cannabis testing lab in Canada. Headquartered among Vancouver’s burgeoning tech community, Anandia’s new state-of-the-art facility was custom-designed for cannabis testing. Between the company’s Vancouver and Toronto labs, Anandia provides 19 different tests and services. These include the full suite of testing services required by Health Canada, plus other value-add tests such as full cannabinoid, terpene, and flavonoid profiling; genetic-based testing; predictive profiling; and genetics archiving services. While operating independently, Anandia is a wholly owned subsidiary of Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) (Frankfurt: 21P; WKN: A1C4WM).

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: Anandia’s participation in the Pilot Program; that use of the platform is intended to enable Anandia to provide final test data on medical cannabis products validating the functionality of the TruTrace platform and meeting the quality assurance requirements of Shoppers and the Canadian consumer; and the ability of TruTrace Technologies’ platform to bring transparency and integrity to the 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 Anandia’s participation in the Pilot Program may not result in the expected results of the Pilot Program or support the quality assurance mandate of Shoppers; whether sufficient numbers of researchers, clinicians, physicians, pharmacists and patients will be available to participate in the Pilot Program; potential negative results of the Pilot Program; adverse industry events; loss of markets; future legislative and regulatory developments in Canadathe 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.

For further information: 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, 403-681-2549, swapan@trutrace.co; Anandia: Lana Culley, VP, Business Development, 604-367-7910, lana@anandia.ca; Sarah Bancroft, Public Relations, 778-866-8769, sarah@sarahbancroft.com

 

 

Shoppers Drug Mart and TruTrace Technologies Successfully Complete Phase 1 of the Medical Cannabis Verification Pilot Program

TORONTOAug. 14, 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 the successful completion of Phase 1 of the blockchain-secured pilot program (the “Pilot Program“) with Shoppers Drug Mart (“Shoppers“). 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.

Phase 2 of the Pilot Program, using Deloitte’s project management and advisory capacity and TruTrace’s StrainSecure™ system, will be focused on developing a unified approach to medical cannabis standards, onboarding licenced producers and other partners to track and trace all product history—from genome to distribution.  The program is expected to help researchers and clinicians to match therapeutic outcomes to specific genetic and chemical profiles, and provide physicians, pharmacists, and patients with greater confidence in the products they prescribe or consume.

Under their StrainSecure™ system, 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 technology.

“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 cannabis 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.”

“As the cannabis sector continues to rapidly evolve in Canada, the industry needs to increase transparency to all stakeholders by demonstrating adherence to rigorous procedures to maintain the overall integrity of the supply chain,” said David Stewart, Partner within Deloitte’s Forensics practice. “Strengthening traceability and verification of cannabis products will bring benefits to the industry as a whole, and most importantly, build confidence and accountability into the cannabis medical value chain. We are proud to be part of such an important initiative given Deloitte Canada’s leadership in the cannabis space.”

First announced in early June at the second annual World Cannabis Congress in Saint John, New Brunswick, the Pilot Program is being developed and implemented by TruTrace utilizing their proprietary StrainSecure™ platform. StrainSecure serves as the central hub for identity management, asset tracking, validation and product authentication, as well as a master registry for standardized testing, product verification, and quality assurance.

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.

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 Pilot Program, including its intended scope, characteristics, and perceived benefits; the ability of TruTrace Technologies’ platform to increase transparency, interoperability and product identification within the medical cannabis industry; that the initiative should allow researchers and clinicians to match therapeutic outcomes to specific genetic and chemical profiles, and provide physicians, pharmacists, and patients with greater confidence in the products they prescribe or consume; and that Phase 2 of the Pilot Program is expected to be completed by November 2019, followed by full production and implementation. 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 Canadathe 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.

For further information: 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

The Flowr Corporation Joins Shoppers Drug Mart and TruTrace Technologies Pilot Program for Validation of Medical Cannabis

TORONTOJuly 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.

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: Flowr’s proposed use of the StrainSecure platform and participation in the Pilot Program; that use of the platform is intended to enable Flowr to validate its cannabis strains and provide its customers with increased transparency; that the StrainSecure platform will serve as a master registry for standardized testing, product verification, and quality assurance; and the ability of TruTrace Technologies’ platform to bring transparency and integrity to the 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 Flowr may not derive the expected benefits from use of the StrainSecure platform or participation in the Pilot Program; whether sufficient numbers of researchers, clinicians, physicians, pharmacists and patients will be available to participate in the Pilot Program; potential negative results of the Pilot Program; adverse industry events; loss of markets; future legislative and regulatory developments in Canadathe 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.

For further information: 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

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.

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 perceived benefits of trading on the OTCQB®, including that it provides additional liquidity and exposure amongst U.S. investors; the execution of the Company’s growth strategy; and the increasing importance of the United States market both in terms of investor interest and strategic opportunities. 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.

For further information: 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

A&L Canada Laboratories, Shoppers Drug Mart, and TruTrace Lead Pilot Traceability Program for Medical Cannabis

A&L Canada Laboratories to participate as one of the primary testing facilities in the Pilot Program providing quality assurance in end use medicinal products

TORONTO and LONDON, ON, July 9, 2019 /CNW/ – A&L Canada Laboratories Inc. (“A&L“), a leader in analytical services and technologies, and TruTrace Technologies Inc. (CSE: TTT; OTC: 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 A&L will be one of the inaugural testing facilities in the Shoppers Drug Mart (“Shoppers“) and TruTrace Technologies medical cannabis verification pilot program (the “Pilot Program“).

As announced by Shoppers at the second annual World Cannabis Congress, the Pilot Program is built on TruTrace’s proprietary StrainSecure™ platform, which focuses on testing and verification to confirm the origin, authenticity and quality assurance of cannabis products. 

A&L was one of the earliest testing facilities to receive a Health Canada testing license under the Access to Cannabis for Medical Purposes Regulations (ACMPR) and provides a wide range of analytical services to the cannabis industry. A&L was recently presented the award for the Best Testing Facility at the 2019 O’Cannabiz Awards Gala – a national annual event honouring cannabis professionals and companies, recognizing excellence and innovation in the industry.

“We provide the full range of services required by TruTrace and Shoppers, and we are proud to support the transparency and accountability goals of this Pilot Program. Our capabilities in testing through all stages of the cannabis production cycle will fully support the quality assurance mandate of Shoppers,” said Nevin McDougall, President and Chief Commercial Officer of A&L.

“We are very pleased to have secured the support of A&L to provide an essential element of the Pilot Program,” said TruTrace Technologies CEO Robert Galarza. “A fundamental objective of the program is to provide complete assurance to medical patients about the origins and quality of their cannabis. A&L’s testing services are a key aspect of meeting that objective.”

A&L will support the project by working with other pilot partners such as WeedMD Inc. and Zenabis Global to provide final test data on medical cannabis products, validating the functionality of the TruTrace platform and meeting the quality assurance requirements of Shoppers and the Canadian consumer. 

The full diagnostic capabilities of A&L Canada Laboratories for the cannabis industry can be found on the company web-site at https://www.alcanada.com/cannabistesting.

About A&L Canada Laboratories

We are an innovative, research driven technology company focused on sustainable development. Through leading expertise, modern laboratory facilities and strong customer focus, A&L serves a wide range of industries including Agriculture, Environmental, Food & Pharma – globally.

In Agriculture, A&L provides comprehensive analytical services for soil, plant tissue, feed, fertilizer, and water. A&L’s services also include production recommendations, remote sensing and precision agriculture capabilities. A&L Biologicals Inc. focuses on research and development of biological compounds for use in agricultural production systems.  The A&L Environmental division provides organic and inorganic chemistry and general chemistry using state of the art technology and methodology.  For Food & Pharma, A&L provides analytical services for plant tissue, water, media and finished product. A&L’s services for cannabis and hemp also include disease diagnostics, genetic analysis, production recommendations, Plant Monitoring Program and Health Canada required testing.  The company operates two world class analytical Laboratories serving clients throughout Canada, the U.S. and Internationally.

Visit our website at www.alcanada.com. Follow us on twitter @alcannabislabs.

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.

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: A&L’s participation in the Pilot Program; that use of the platform is intended to enable A&L to provide final test data on medical cannabis products validating the functionality of the TruTrace platform and meeting the quality assurance requirements of Shoppers and the Canadian consumer; and the ability of TruTrace Technologies’ platform to bring transparency and integrity to the 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 A&L’s participation in the Pilot Program may not result in the expected results of the Pilot Program or support the quality assurance mandate of Shoppers; whether sufficient numbers of researchers, clinicians, physicians, pharmacists and patients will be available to participate in the Pilot Program; potential negative results of the Pilot Program; 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.

For further information: A&L Canada Laboratories: Nevin McDougall, President & Chief Commercial Officer, nmcdougall@alcanada.com; Greg Patterson, CEO and Founder, patterson@alcanada.com, 1-519-457-2575, www.alcanada.com; TruTrace Technologies Inc: Robert Galarza, Chief Executive Officer and Director; Media Relations: Corey Herscu, RNMKR Agency, 416-300-3030, corey@rnmkr.agency; Investor Inquiries: Swapan Kakumanu, Chief Financial Officer, 403-681-2549, swapan@trutrace.co

TruTrace Technologies signs Zenabis to its Cannabis Validation Testing Program

Zenabis joins Shoppers Drug Mart Pilot Project to bring 
Greater Intelligence to Medical Cannabis 

TORONTOJune 27, 2019 /CNW/ – TruTrace Technologies Inc. (CSE: TTT; OTC: 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 Zenabis Global Inc. (TSX:ZENA(“Zenabis“), a Canadian licensed cultivator of medical and recreational cannabis, will employ the Company’s StrainSecure™ platform to collect, register, manage, track and publish verified testing data of its cannabis plant DNA and strains.

Use of the StrainSecure platform is intended to enable Zenabis to validate its cannabis strains and provide its customers with increased transparency about the authenticity, quality and origin of its products. In addition, Zenabis is joining the Shoppers Drug Mart (“Shoppers“) and TruTrace medical cannabis verification pilot project (the “Pilot Project“) announced last week at the World Cannabis Congress. Shoppers aims to improve industry accountability and patient outcomes through the Pilot Project.

“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.”

Zenabis’ Chief Revenue Officer, David Lluncor, added, “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. In particular, 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. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.

TruTrace Technologies has signed multiple licensed producers to the StrainSecure platform since the start of 2019, and is engaged with partners of all types in support of the Pilot Project.

Phase 1 of the Pilot Project is expected to be completed by July 31, with full production and implementation targeted for late November 2019.

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 Zenabis:

Zenabis is a significant Canadian licensed cannabis cultivator of medical and recreational cannabis, and a propagator and cultivator of floral and vegetable products. Zenabis employs staff coast-to-coast, across facilities in Atholville, New BrunswickDeltaAldergrovePitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. In addition to gaining technologically advanced knowledge of plant propagation, the recent addition of state-of-the-art greenhouses in LangleyPitt Meadows and Aldergrove provides Zenabis with 3.5 million square feet of facility space that can, upon full conversion, be dedicated to cannabis production.

If all facility space at Zenabis Atholville, Zenabis Stellarton, Zenabis Delta and Zenabis Langley is fully converted and dedicated to production, Zenabis will own, and have access to 660,000 square feet of high quality indoor cannabis production space, as well as 2.1 million square feet of greenhouse cannabis production space at its Langley facility, with this production strategically positioned on Canada’s coasts. Zenabis expects these facilities to have an annual design capacity of 131,300 kg of dried cannabis by the third quarter of 2019. These facilities, if fully built out and converted for cannabis production, would have an annual design capacity to yield approximately 479,300 kg of dried cannabis annually, for both national and international market distribution. An additional 700,000 square feet of greenhouse space will be used to continue the existing propagation business and produce industrial hemp, and can be converted to cannabis production at such a time that is beneficial to the strategic position of the Company. The Zenabis brand name is used in the cannabis medical market, while the Namaste and Blazery brand names are used in the cannabis adult-use recreational market, and the True Büch brand name is used for Zenabis’ kombucha products.

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: Zenabis’s proposed use of the StrainSecure platform and participation in the Pilot Program; that use of the platform is intended to enable Zenabis to validate its cannabis strains and provide its customers with increased transparency; the ability of TruTrace Technologies’ platform to bring transparency and integrity to the cannabis industry; and that Phase 1 of the Pilot Program is expected to be completed by July 31, with full production and implementation targeted for late November 2019. 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 Zenabis may not derive the expected benefits from use of the StrainSecure platform or participation in the Pilot Program; whether sufficient numbers of researchers, clinicians, physicians, pharmacists and patients will be available to participate in the Pilot Program; potential negative results of the Pilot Program; adverse industry events; loss of markets; future legislative and regulatory developments in Canadathe 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.

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.

For further information: TruTrace Technologies Inc: Robert Galarza, Chief Executive Officer and Director; Media Relations: Lori Harito, RNMKR Agency, 416-523-9602, lori@rnmkr.agency; Investor Inquiries: Swapan Kakumanu, Chief Financial Officer, 403-681-2549, swapan@trutrace.co