BLOCKStrain CEO Robert Galarza will be joined in ringing the opening bell by senior management, directors, key stakeholders and supporters of the Company.
“It’s been an exciting ride taking our Company public, and even more exciting putting the key building blocks in place for BLOCKStrain’s success in the Canadian cannabis industry,” Galarza said. “If you’d have told me six months ago we’d be ringing the bell on the TSX this week, I wouldn’t have believed you. This is a sincere honour for all of us, and a real testament to the stellar work being done by our software development team. This is only the beginning for BLOCKStrain.”
BLOCKStrain is a young technology company that has developed the world’s first ‘gene to sale’ tracking system that utilizes the benefits of blockchain to empower supply-chain visibility and product verification. BLOCKStrain’s proprietary software streamlines the process of mandatory testing of cannabis products; creates a genetic registry of cannabis strains to protect the intellectual property of breeders and growers; and provides an innovative ‘track-and-trace’ system to provide visibility and verification for governments and consumers.
All data entered into this ecosystem is protected by an immutable blockchain ledger and interconnected with a sophisticated enterprise software platform that empowers the industry with actionable data.
The system is already being deployed at WeedMD, a leading Licensed Producer of cannabis in Canada. The Company has also signed a strategic partnership with cannabis technology innovator Abbatis Bioceuticals.
The BLOCKStrain platform works within existing software solutions in the cannabis industry, including ‘seed to sale’ crop management systems. The Company is currently negotiating deployment contracts with several other Licensed Producers and late-stage applicants, under the Access to Cannabis for Medical Purposes Regulations across the country.
The market opening ceremony will happen at the start of trading on Thursday, June 21st, at exactly 9:30 a.m., and will be aired live on the Business News Network morning show, and featured on TSX.com and TMX.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
About BLOCKStrain Technology Corp.
BLOCKStrain Technology Corp. (TSX-V: DNAX.V) has developed the first integrated blockchain platform that registers and tracks intellectual property for the cannabis industry. Strain protection and genetic identification are major issues for growers and breeders, and this new technology allows them to identify and secure rights to their valuable intellectual property (IP). The BLOCKStrain platform also streamlines the administrative process of genetic and mandatory quality-control testing for legal cannabis, cutting the administrative time and expense in half.
BLOCKStrain’s proprietary, immutable, cryptographically-secure blockchain-technology establishes a global ‘single source of truth’ for cannabis strains, their ownership, potency and chemical makeup. In an industry where a popular strain can be worth millions of dollars, it is crucial to the industry’s future to quantify genetics, potency and equivalencies between cannabis products. BLOCKStrain delivers needed transparency to growers, retailers, regulators, and consumers who have struggled to find realistic solutions to these logistical challenges.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future business plans. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the expected benefits of, and impact on, WeedMD’s business as a result of the use of BLOCKStrain’s technology; and the expected security and other benefits of BLOCKStrain’s technology generally. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including that: BLOCKStrain’s platform may not operate as expected; WeedMD may not derive the expected benefits from use of the BLOCKStrain platform; legislative changes may occur that negatively impact BLOCKStrain’s business; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE BLOCKStrain Technology Corp.
For further information: please visit the Company’s website at: www.blockstrain.io or contact Paula Arab at (403) 889-9128 or email at paula.arab@BLOCKStrain.io
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