TORONTO, Sept. 11, 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, is pleased to announce that Tilray Canada Ltd. (“Tilray Canada”), a subsidiary of Tilray, Inc. (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production and distribution, has joined the Shoppers Drug Mart (“Shoppers”) medical cannabis verification pilot program (the “Pilot Program”).
The Pilot Program is designed to increase transparency, interoperability and product identification within the medical cannabis industry. Shoppers recently announced the successful completion of Phase 1 of the Pilot Program. And the addition of Deloitte Canada LLP in a project management and advisory role to execute Phase 2. Full production and implementation of TruTrace’s StrainSecure™ platform is targeted for late November 2019.
The Pilot Program was first announced by Shoppers in June at the second annual World Cannabis Congress in Saint John, New Brunswick. It 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
- And as a master registry for standardized testing, product verification, and quality assurance
TruTrace Technologies CEO Robert Galarza said:
“Tilray has maintained a keen focus on the importance of quality medical cannabis, from their clinical research initiatives to their strategic partnerships in the global medical market. We are very excited to begin working with them in the Pilot Program. And we believe our blockchain enabled verification and traceability of their products will only further bolster their global brand.”
Under the StrainSecure™ program, the TruTrace team, in conjunction with their partner laboratories, 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 Tilray®
Tilray is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 13 countries spanning five continents.
SOURCE TruTrace Technologies Inc.
