TORONTO, Oct. 16, 2019 /CNW/ – TruTrace Technologies Inc. (CSE: TTT) (OTCQB: TTTSF) (“TruTrace” or “the Company“), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, and AdvancedCare, a leading clinical research, clinical and telemedicine platform used by medical professionals around the world, today announced that the two companies have entered into a letter of intent (“LOI“) to begin a strategic working relationship to integrate their technologies to bring innovative solutions to the medical industry.
Pursuant to the LOI, AdvancedCare plans to integrate TruTrace’s StrainSecure™ technology within its own platform, with the objective of providing product data directly to medical professionals, patients and researchers to ensure medication has been verified and is safe to consume. The AdvancedCare platform is used within both care plans and clinical research trials. In addition, TruTrace will include AdvancedCare as a preferred partner in its StrainSecure Ecosystem.
“We are excited about the opportunity to incorporate TruTrace’s leading technology into our platform,” said AdvancedCare CEO Nick Murray. “Our vision is to combine the strengths of our products to help bring greater transparency and improved clinical outcomes to the legal cannabis industry.”
“AdvancedCare has developed a leading product for use in EMR and clinical trials,” said TruTrace Technologies CEO Robert Galarza. “We believe there are strong synergies between our respective technologies, and together we can offer significant value to the medical cannabis industry as we connect validated product data to clinical trials. We sincerely look forward to working with them on the integration.”
AdvancedCare provides businesses in the healthcare industry with simple, effective tools to securely conduct clinical trials, experiments, and research studies while providing a single platform that can also be used by nurses and physicians. By combining mobile, wearables, medication monitoring and telemedicine within a single platform, AdvancedCare enhances patient wellness and enables virtual and physical clinical research trials.
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace’s technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace’s technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.
About AdvancedCare
AdvancedCare’s platform is used by clinics and clinical research organizations to manage their day-to-day operations and clinical information. Providing a suite of telemedicine, medication monitoring, vitals monitoring and analytical tools provide clients with insights into the big healthcare data generated by millions of patient data points every day.
By leveraging the power and flexibility of AdvancedCare, clinicians are able to retrieve real-world data more efficiently and with a broader geographical reach than ever before.
Disclaimer for Forward-Looking Information
This news release includes forward-looking information within the meaning of Canadian securities legislation, including statements regarding: the ability of TruTrace and AdvancedCare to successfully integrate their technology platforms; the ability of the technology to provide product data directly to medical professionals, patients and researchers to ensure medication has been verified and is safe to consume; the ability of TruTrace and AdvancedCare to bring greater transparency and improved clinical outcomes to the legal cannabis industry. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct and actual results and future events could differ materially from those anticipated in such information. Forward-looking information necessarily involves known and unknown risks, including, without limitation, risks associated with: general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States, and elsewhere; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks beyond the Company’s control. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release. Forward-looking information contained in this news release is provided as of the date of this news release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE TruTrace Technologies Inc.
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; AdvancedCare: Nick Murray, Chief Executive Officer and Director; Investor and Media Relations, 1-800-258-9852, ir@advancedcare.com
