Proactive Investors - Run By Investors For Investors

TruTrace and Theracann team up to integrate blockchain cannabis quality-control platform with molecular tagging technology

The goal is to combine TruTrace’s genome-to-patient monitoring software with ThereCann’s Electronic Traceability for Cannabis and Hemp
TruTrace graphics on a computer
TruTrace, based in Vancouver, lets cannabis growers and breeders to secure their intellectual property rights

TruTrace Technologies (CSE:TTT) (OTCMKTS:BKKSF), the blockchain platform that tracks intellectual property in the cannabis industry, announced Monday that it was teaming up with Theracann International Benchmark Corporation and its genetic tracking technology.

The companies signed a letter of intent and plan to integrate StrainSecure, TruTrace’s genome-to-patient quality control software, with ThereCann’s Electronic Traceability for Cannabis and Hemp, or ETCH, technology.

ETCH affixes a traceable molecular tag to cannabis that provides precise details about the given strain and its derivatives at any point in the supply chain.

TruTrace stock climbed 6% to C$0.27 in Toronto and fell 5.6% to US$0.19 on OTC Markets.

BIG PICTURE: TruTrace Technologies takes on cannabis tracking with its proprietary blockchain platform

The companies are expected to sign a formal agreement by the end of July.

“Creating an ecosystem of technologies with the intent to provide patients, government, and the industry with supply chain integrity, true IP protection and analytical testing and validation is an important next step for the cannabis and hemp industry evolution," TruTrace CEO Robert Galarza said. "We are excited to connect Theracann's ETCH molecular track and trace system with StrainSecure and to explore additional opportunities for collaboration between our organizations."

TruTrace, based in Vancouver, lets cannabis growers and breeders to secure their intellectual property rights.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full TTT profile View Profile

TruTrace Technologies Inc Timeline

Related Articles

cannabis leaf
May 08 2019
The company plans to leverage its portfolio of brands as well as its distribution network of more than 39,000 European pharmacies to maximize margins and profitability
cannabis extraction
April 09 2019
NextLeaf Solutions is developing intellectual property around converting the cannabis plant into infused products through a scalable, repeatable process
cannabis facility
January 23 2019
The company is breaking into the large and lucrative market in the golden state
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use