User-65225
6 years ago
80,204,382 oustanding shares AFTER being fully funded at .30 (.23 USD). Insider options were also granted at .30 (.23 USD), which is why i started buying in the .20's...
They wont want to go any lower than their investment and if they were willing to invest $10.5 million, they likely have enough $$$ to keep the stock from dropping lower. They will defend it imo
...and no one invests that much $$$, with no downside protections, in a company they dont believe in. So i dont expect them to just start dumping at the levels they funded the company, once restrictions are lifted.
From the filing, which Sedar wont let me provide a link for...
Closing of Qualifying Transaction
In connection with the Closing, the Company acquired all of the issued and outstanding common
shares of BLOCKStrain, with BLOCKStrain becoming a wholly-owned subsidiary of the
Company. The Company issued one common share to each former shareholder of BLOCKStrain,
on a one for one basis. After giving effect to the completion of the Transaction, the Company has
80,204,382 common shares issued and outstanding (on an undiluted basis), with approximately
9.3% of the shares (on an undiluted basis) held by insiders.
User-65225
6 years ago
Abattis and BLOCKStrain Execute Letter of Intent for Product Integration and Strategic Partnership
CNW Group CNW Group•June 5, 2018
VANCOUVER , June 5, 2018 /CNW/ - ABATTIS BIOCEUTICALS CORP. (CSE:ATT; OTC:ATTBF) ("Abattis") and BLOCKSTRAIN TECHNOLOGY CORP. ("BLOCKStrain") (TSXV: DNAX.V) are pleased to announce that they have signed a letter of intent (the "LOI") to integrate BLOCKStrain's proprietary technology into Abattis's product and services ecosystem. Through their collaboration, the parties hope to enable Abattis clients to instantly arrange for sales, shipping, testing and analysis of Abattis products and give clients comprehensive visibility over such products over their entire lifecycles.
BLOCKStrain Technology Corp. (CNW Group/BLOCKStrain Technology Corp.)
BLOCKStrain Technology Corp. (CNW Group/BLOCKStrain Technology Corp.)
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Abattis and BLOCKStrain also intend to explore development and integration opportunities to expand on Abattis's current life sciences and biotechnology services offerings. Pursuant to the LOI, Abattis and BLOCKStrain have agreed to negotiate in good faith the terms of a definitive technology development agreement respecting the terms of their partnership.
BLOCKStrain's platform, which stores all testing data in a blockchain-protected database, significantly reduces the workload and costs associated with product and genetic testing. If desired, producers can now have their strains genetically tested and registered with BLOCKStrain to establish immutable ownership of the strains they have created. BLOCKStrain not only reduces the workload and costs involved with testing, but also provides full visibility of testing results for producers, government regulators and consumers.
Abattis is one of the leading technology companies in the growing cannabis industry, with significant ownership stakes in each of CannaNUMUS Blockchain Inc., a blockchain technology company, and Northern Vine Canada Inc., a federally licensed cannabis testing and research and development laboratory, and 100% ownership interests in each of Gabriola Green Farms Inc., a late stage licenced producer applicant under the Access to Cannabis for Medical Purposes Regulations, and Green Tree Therapeutics Corp., which has several SKU's of cutting edge vaporizers. Abattis's diverse product and service offerings present a number of potential applications for BLOCKStrain's platform. For example, BLOCKStrain's technology could automate, streamline and ensure effective and efficient tracking of all sales and shipping of Abattis vape products.
"The LOI is part of our company's effort to always sit at the forefront of innovation," stated Abattis President and CEO Rob Abenante . "Abattis brings cutting edge technology to the cannabis space in terms of testing, product development, research and extraction technologies and we actively work with technology partners to ensure we always provide the best possible service to our clients. Our agreement with BLOCKStrain will help streamline and improve our offerings even further, and we are very excited to work on the development of our joint technologies," added Mr. Abenante.
"BLOCKStrain provides a missing piece of the puzzle that helps both licensed producers and testing labs," stated BLOCKStrain CEO Robert Galarza . "The onerous and time-consuming process associated with testing products, receiving results and reporting those results to federal regulators costs time and money, and unfortunately does not scale to meet the projected demand of a legal recreational market. Our system is built to alleviate the administrative bottleneck in the testing process".
"The agreement with Abattis is a key step for our company. Abattis is among the most respected and advanced players in the area of cannabis testing and analysis, and their potential adoption of our platform is very exciting," added Mr. Galarza.
About Abattis Bioceuticals Corp.
Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. Abattis has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. Abattis is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. Abattis follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions. For more information, visit Abattis's website at: http://www.abattis.com
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. The good news is that the blockchain technology implemented by BLOCKStrain is ideally suited to solve these kinds of problems by implementing an immutable and non-corruptible record of transactions.
Neither the TSX Venture Exchange, the Canadian Securities Exchange, nor the 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 proposed transaction between BLOCKStrain and Abattis; the expected benefits of, and impact on, the cannabis industry as a result of BLOCKStrain's technology; the benefits of the products and services offered by BLOCKStrain and Abattis both individually and through their proposed partnership; Abattis's goal to offer its clients the highest level of service; and other statements regarding the business of BLOCKStrain and Abattis. 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 and Abattis may be unable to agree to terms for a definitive agreement; the proposed transaction may not be approved by the TSX Venture Exchange and/or the Canadian Securities Exchange; the proposed partnership between Abattis and BLOCKStrain may not benefit either party as expected; BLOCKStrain's platform may not operate as expected; the cannabis industry may not use the BLOCKStrain platform once it is built; BLOCKStrain's platform may not streamline Abattis's business; legislative changes may occur that negatively impact BLOCKStrain's business; and other factors beyond control of BLOCKStrain and/or Abattis. 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 either 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 BLOCKStrain and Abattis disclaim 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.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2018/05/c6568.html
User-65225
6 years ago
BLOCKStrain Welcomes WeedMD to its Platform
Blockstrain Technology Corp (TSXV:DNAX)
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VANCOUVER, May 29, 2018 /CNW/ - BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX) the "Company") is pleased to a welcome WeedMD Inc. (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) to its platform. WeedMD, which recently announced a merger with Hiku Brands Company Ltd. (CSE: HIKU), is the first Licensed Producer (LP) under Health Canada's Access to Cannabis for Medical Purposes Regulations to utilize BLOCKStrain's proprietary platform, making it one of the first federally Licensed Producers of medical cannabis to integrate blockchain technology into its ecosystem.
BLOCKStrain Technology Corp. (CNW Group/BLOCKStrain Technology Corp.)
BLOCKStrain's platform will allow for the expansion of WeedMD's library of world-class cannabis genetics while building customers' trust. BLOCKStrain, which began trading publicly last week on the TSX Venture Exchange, delivers a secure and immutable blockchain platform to establish global certainty for cannabis strains and their ownership.
"Our talented product development team has had the distinct pleasure of working with the amazingly knowledgeable cultivation and production management team at WeedMD to better shape our core product suite, and to provide digital solutions which aim to reduce inefficiencies and administrative pain points," commented BLOCKStrain CEO Robert Galarza. "Our mission is to provide WeedMD with a secure record for their vast array of genetics, while also assisting in streamlining certain internal functions given our technology platform and knowledge."
BLOCKStrain's team has worked hand in hand with the team at WeedMD to create a digital process for automating the "Production Batch Record" summary which is part of the documentation requirements set by the federal government. Currently the mandated process, although necessary for consumer safety and quality assurance, is burdensome, time intensive and requires far too much manual paperwork.
"The current process has many flaws, including the inability to easily reference and manage the collected data, and to analyze, share or derive insights from the data collected," stated BLOCKStrain co-founder and Chief Technology Officer Tommy Stephenson. "This makes it virtually impossible to use the data when and where it is truly needed in the industry."
BLOCKStrain tackled this issue by developing a new solution that is rapidly accessible with mobile devices and tablets and removes many redundancies currently in the current system.
"Our application mirrors what a producer is manually doing in order to provide a massive amount of value in time saved as well as cost reductions, while also providing quick access to data and insights that help optimize operations," said Mr. Stephenson.
BLOCKStrain has also developed a "Wholesale Record" summary to assist in the WeedMD's wholesale genetics business, thus providing WeedMD with the ability to manage and share the history of a clone, as well as the data collected during its grow cycle.
"We believe that this internal level of insight, which is collected throughout the growing cycle, is unparalleled in the industry and will be incredibly valuable to the LP customer base currently purchasing clones from WeedMD's top-quality inventory of genetics," stated Mr. Galarza.
"Unique and differentiated strains and product offerings have always been, and will remain, a cornerstone of WeedMD's business model", said Keith Merker, Chief Financial Officer of WeedMD. "Validating and protecting that intellectual property through BLOCKStrain's platform will prove invaluable as we scale operations and broaden our distribution throughout the country as well as internationally."
The digital solutions provided by BLOCKStrain are expected to be instrumental in providing WeedMD's cultivation team with tools to rapidly search their records in real time instead of sifting through large volumes of paperwork in the company's files. Furthermore, the digital archival system of BLOCKStrain is expected to prevent forms from being damaged, lost or tampered with and to make it easy to share with colleagues and regulatory bodies. This powerful data can also be accessible for analytics, reporting and measurement and is the only solution on the market that provides this level of service to one of Canada's leading cultivators.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distibutor of medical cannabis and oils under the ACMPR. The Company operates a 26,000 sq. ft. indoor facility in Aylmer, Ontario, and is awaiting its second-site cultivation license for its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. WeedMD is focused on providing medical cannabis to the seniors' markets in Canada through its proprietary seniors' care program. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays – including as it pertains to regulatory requirements, indications and potential side effects.
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. 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 aims to deliver needed transparency to growers, retailers, regulators, and consumers who have struggled to find realistic solutions to these logistical challenges. The blockchain technology implemented by BLOCKStrain is ideally suited to solve these problems by implementing an immutable and non-corruptible record of transactions.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert Galarza"
Robert Galarza
Chief Executive Officer and Director
Neither 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.
Copyright 2018 Canada NewsWire
User-65225
6 years ago
BLOCKStrain Technology Corp. (TSX.V: DNAX) Leverages Big Data to Secure Cannabis Pipeline
June 4, 2018
Blockchain-based genetic registration process provides verification security for growers and consumers alike
Global cannabis market projected to reach $31.4 billion by 2021
WeedMD becomes first Canadian Licensed Producer to adopt BLOCKStrain’s technology
As the legal cannabis market continues to develop, concerns about ensuring transparency and quality control for the growing number of medicinal and recreational drug products sold to consumers continue to drive a necessary breed of entrepreneurship required to legitimize the industry. BLOCKStrain Technology Corp. (TSX.V: DNAX) has emerged as an innovative leader in the quality control arena, releasing its proprietary supply chain management platform as a secure means of providing confidence in the inventory pipeline while safeguarding the interests of licensed growers.
Blockchain’s ability to provide an inalterable and transparent multi-user platform for tracing manufacture-to-market transactions within virtually any industry has gained an exuberant following among investors during recent months, sparking sometimes-explosive growth in entities’ values.
BLOCKStrain has adapted the open-source ledger’s technology to provide a cannabis genome-to-sale genetic chain of evidence that provides proof of ownership to brand builders in the multibillion-dollar industry and allows consumers to verify where a product originated and where it has been before landing in their shopping carts. In between the two extremes of the pipeline, distributors, shipping companies and government agencies also have a stake in auditing a product’s wellbeing. Moreover, the platform forms the foundation for what could become IP protection for growers and producers who produce branded products.
WeedMD Inc. (TSX.V: WMD) (OTC: WDDMF) (FSE: 4WE), which recently announced a merger with Hiku Brands Co. Ltd. (CSE: HIKU) (OTC: DJACF), in May became the first Canadian Licensed Producer (LP) to adopt the BLOCKStrain platform for gene record-keeping purposes. As Canada and select U.S. states continue pushing toward full national legalization of cannabis as a recreational drug as well as a medicinal product, the BLOCKStrain platform ensures competitive advantage for their products at retail by giving consumers more transparent data on each product.
“Unique and differentiated strains and product offerings have always been, and will remain, a cornerstone of WeedMD’s business model. Validating and protecting that intellectual property through BLOCKStrain’s platform will prove invaluable as we scale operations and broaden our distribution throughout the country as well as internationally,” WeedMD Chief Financial Officer Keith Merker said about the agreement (http://nnw.fm/P5Ida).
Cannabis presents an interesting challenge to players in the industry. Increasingly in demand for its reputed healing properties as well as for a burgeoning social drug movement, the plant contains more than 500 known chemical compounds that are, in some cases, pharmacologically active and the basis of worldwide marijuana restrictions. With cannabis, consumers have a keen interest in being able to identify what they are purchasing at a genetic level, and blockchain provides the potential to build up a new breed of custom retail.
Government agencies also have a public stake in ensuring the production quality, product potency and measurable equivalency standards of cannabis derivatives claiming a medicinal or wellness benefit. BLOCKStrain helps provide the supply chain data to support a regulatory framework that achieves this goal.
Thousands of cannabis strains exist, and, as new breeding takes place, craft growers also have an interest in protecting their intellectual property. For growers, the BLOCKStrain platform provides a gene-registration defense of intellectual property rights and establishes a historical proof of ownership standard that may sustain challenges in the legal arena (http://nnw.fm/6jjeO). Once growers create an account with BLOCKStrain, they can deliver seeds, flower and derivative products that will be tested at an approved facility to provide identifying data. BLOCKStrain administrators also provide a verification process for pre-existing cannabis strain genetic data that can become part of a client’s profile.
Closing the consumer supply loop, users can also use BLOCKStrain to rate products and share their opinions, which become part of the strain’s immutable record.
“We have a mission to take an industry that was originated in the shadows and, using the power of big data and a blockchain-supported supply chain management model, bring it into the light,” stated BLOCKStrain CEO Robert Galarza. “The business opportunity is massive.”
For more information, visit the company’s website at www.BLOCKStrain.io
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User-65225
6 years ago
BLOCKStrain Technology Corp. (TSX.V: DNAX), a full-service software company headquartered in Vancouver, BC, Canada, has developed the first integrated blockchain platform that registers and tracks cannabis intellectual property (“IP”) from genome to sale. It is proprietary, immutable and cryptographically secure, thereby establishing a single source of truth for cannabis strains and their ownership.
With Canada set to legalize marijuana use for recreational purposes, and other jurisdictions following suit around the world, new challenges will emerge regarding the ability to provide a safe and legal inventory of a product that up until now was largely only available on the black market. Cannabis will be heavily tested and regulated by numerous regulatory bodies in Canada. The cannabis industry faces unique challenges that BLOCKStrain specifically helps it address, including:
Mandatory Testing: Through BLOCKStrain’s platform and lab-testing partners, the process is more efficient and streamlined, cutting the administrative burden in half and getting products to market faster;
DNA Based Product Validation: The underlying blockchain technology creates a genetic fingerprint that identifies and validates the product electronically so any participant on the platform, including consumers, can view and track what’s happening with that product from genome to sale;
Intellectual Property: Third, and perhaps most importantly, the BLOCKStrain platform protects the intellectual property of growers and breeders. This is important for the industry’s growth as products evolve and develop. If a craft grower, for example, creates a popular strain with unique characteristics, it will be able to protect its intellectual property by simply registering the strain’s genome with BLOCKStrain and locking that data into the blockchain. It will reside there forever and will be readily accessible in the event of future disputes, bringing a level of trust to the industry and ensuring licensing fees are paid to all players in the market.
VERIFICATION = CERTIFICATION
BLOCKStrain’s genetics verification process is authentic and incredibly effective. User groups register by creating an account with BLOCKStrain, which starts the process. Organizations and independent growers submit seeds, flower and post-extraction product for testing to a registered and approved testing facility, which then submits test results to BLOCKStrain. Pre-existing data of genetic cannabis strains can also be submitted via BLOCKStrain verification administrators, with those results being added to the user group’s blockchain account. Submissions are entered into BLOCKStrain, and the transaction is completed and recorded.
Each time an item is tested and verified by the network, a Registration Affidavit is auto-generated and given a unique “BLOCKStrain Address” along with a traceable QR Code. Producers, patients and consumers are able to not only verify the test but can also rate the product, write reviews and share opinions. This detail is stored within BLOCKStrain and, just like the test results, cannot be tampered with or modified. Verification and certification are earned by all parties for their participation.
SAFE CONSUMER SUPPLY
BLOCKStrain demystifies the seed-to-sale process for all relevant stakeholders including producers, distributors, shippers, government agencies and consumers by creating a repository of cannabis genomes on an immutable, shared ledger. Thousands of cannabis strains exist and cultivators are breeding new strains all the time. The proliferation of cannabis strains can prove problematic for consumers since there are more than 500 known chemical compounds in a single plant. Furthermore, since several dozens of these compounds have been identified as pharmacologically active, it becomes more and more difficult for consumers to know what they are purchasing.
It is for this reason that being able to quantify the genetics, potency and equivalencies among cannabis products is crucial to the future of legalized cannabis. The difference is not so much in the name or brand attached to the cannabis, but the DNA of the plant itself. BLOCKStrain ensures product integrity, safety, regulatory compliance, product licensing and authenticity – all vital elements for the emerging cannabis industry. This technology also bolsters the process of meeting government regulatory standards by providing real-time visibility of industry operations to agencies assigned to enforce and regulate cannabis activity.
INTELLECTUAL PROPERTY RIGHTS
BLOCKStrain allows for the defense of intellectual property rights for the grower with an authentic, verifiable chain of evidence embedded in the blockchain itself. Proof of ownership for a specific strain of cannabis is paramount in a multibillion dollar industry. Real life ownership disputes have already begun in the industry with legal battles underway. Unfortunately, the framework for resolving these disputes has yet to be defined and they are not likely to be resolved anytime soon.
Consumers and regulators alike want to know whether a cannabis product grown and sold at a local dispensary is safe and meets quality control standards. BLOCKStrain enhances trust of origin from genome-to-sale as cannabis flows through the supply chain, verifying critical steps in the process such as who is growing the plant, which seed is planted and where did it come from, whether pesticides were used, how much was grown, which tests are used to establish quality and potency, where the product is transported and how, and whether possession limits are meeting regulatory standards.
In summary, BLOCKStrain has developed the most comprehensive, secure and community-driven cannabis genetics archival platform for cannabis breeders and growers, large and small, to protect and release their varieties into the public domain, all while compensating and rewarding them for their contributions.
User-65225
6 years ago
National Green Biomed Adopting BLOCKStrain Technology Software
VANCOUVER, June 19, 2018 /CNW/ – BLOCKStrain TECHNOLOGY CORP. (the “Company” or “BLOCKStrain“) (TSXV: DNAX) is pleased to welcome National Green Biomed Ltd. (“NG Biomed” or “NG”) to its software platform.
BLOCKStrain is the leading provider of gene to sale software in the cannabis industry. (CNW Group/BLOCKStrain Technology Corp.)
BLOCKStrain and NG Biomed this week signed a Letter of Intent for adoption of the BLOCKStrain software platform at NG Biomed’s production facility in British Columbia, Canada. NG Biomed is a late-stage applicant to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations in Canada.
Under the Letter of Intent signed June 18, 2018, the Parties agree to negotiate the terms of a business relationship through which BLOCKStrain will integrate its core software platform into the operational infrastructure of NG Biomed in order to optimize product testing, genetic verification, supply chain visibility and management of grow operations.
Secondly, BLOCKStrain will use its proprietary technology to create a custom platform for NG Biomed that will empower NG Biomed’s clients and partners with the ability to instantly arrange for sales, shipping, testing and analysis of NG Biomed products, as well as giving comprehensive visibility over such products throughout their entire life cycles.
NG Biomed is currently launching an initial 30,000 square foot greenhouse facility on 68 acres in the Fraser Valley region of BC, and has room to expand to at least 500,000 square feet of production space.
The company is headed by former federal cabinet minister Herb Dhaliwal as Chairman of the Board, and son Justin Dhaliwal as CEO.
BLOCKStrain CEO Robert Galarza says he’s excited and honored to work with an experienced and well connected management team that focuses heavily on research and development.
“Over the past several years, I’ve had the privilege of getting to know Herb and Justin very well, and I believe they are among the most professional and connected people I have met in the cannabis space in the US or Canada,” Galarza says. “Their integrity is second to none and it has been a true pleasure working with them to advance our technology’s data centric solution for this industry.”
NG Biomed CEO Justin Dhaliwal says his company chose to work with BLOCKStrain not just because they were impressed by the software, but because they were impressed by the BLOCKStrain team.
“We feel implementing smart technology allows us to be more efficient, and in terms of record management, we need to keep track of all our strains and genetics in a way that is simple, effective and enforceable,” Dhaliwal said.
“Robert is a great leader and a very insightful businessman, and their CTO Tommy Stephenson is absolutely brilliant,” Dhaliwal added. “Tommy’s experience as the former CTO at WeedMaps is also important. He’s an expert in IT, absolutely, but it’s more important that he really understands the industry’s needs because he’s lived it for so many years.”
The parties to the agreement say they will be working out details of the BLOCKStrain software deployment over the coming weeks, and finalizing the terms within a formal definitive agreement.
ON BEHALF OF THE BOARD OF DIRECTORS
“Robert Galarza”
Robert Galarza
Chief Executive Officer and Director
About BLOCKStrain Technology Corp.
BLOCKStrain Technology Corp. (TSXV: DNAX) 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.
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, NG Biomed’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; NG Biomed 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.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2018/19/c1696.html
please visit the Company’s website at: www.blockstrain.io or contact Paula Arab at (403) 889-9128 or email at paula.arab@BLOCKStrain.ioCopyright CNW Group 2018
Source: Canada Newswire (June 19, 2018 – 5:00 AM EDT)
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User-65225
6 years ago
Exclusive: BLOCKStrain CEO Outlines Blockchain's Potential Role in Cannabis — CFN Media
May 29, 2018 09:00 ET | Source: CFN Media
SEATTLE, May 29, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced publication of an article and CEO video interview covering BLOCKStrain Technology Corp (TSX-V:DNAX). The company recently went public on the TSX Venture exchange under the ticker symbol “DNAX” after many years of preparation and dedication toward building a premier software company serving the cannabis industry.
Blockchain technology is disrupting the shipping and supply-chain industry by offering smart logistics that are cheap, efficient, transparent and protect intellectual property. BLOCKStrain is one such company, targeting its platform to more than 5,000 craft growers in Canada and upwards of 50,000 in California. Investors may want to take note ahead of recreational-use legalization across North America.
What is the Blockchain?
The term blockchain has been popularized by the rise of Bitcoin, but there’s a lot more to the technology than speculative currency. While cryptocurrencies rely on blockchains to verify transactions, the same technology can be applied to many different industries that require verified transactions. The shipping-and-supply-chain industry is perhaps the best example, but other verified transactions could include medical records, identity management, or even voting records.
At its core, a blockchain is a list of records where each record contains a cryptographic hash of the previous block, a timestamp, and transaction data. The difference between blockchain and traditional ledgers is that the blockchain is inherently resistant to modification (e.g. corruption) and it’s able to be read (e.g. verified) easily by the public. These attributes are highly desirable for many industries that want cheap, efficient, and transparent transactions.
Apply Blockchain to Cannabis
There are many companies that have launched cryptocurrencies within the cannabis industry. After all, the lack of access to traditional banking has left a void that digital currencies are well-positioned to fulfill. But, the potential for blockchain technology in the cannabis industry extends beyond consumer transactions to the supply chain, especially with more than 5,000 craft growers in Canada and more than 50,000 in California, alone.
Suppose that a craft grower partners with a licensed producer to market a new cannabis strain. The craft grower provides mother plants to the licensed producer, who agrees to mass produce and distribute the new strain and pay a licensing fee. Now, suppose that the licensed producer launches its own similar strain a few months later and suddenly stops paying licensing fees, claiming perhaps its strain is different and not the one from the initial mothering plant. How does the craft grower know that the licensed producer didn’t steal the proprietary strain? The blockchain where that identifying data is being held will unlock the answer, thus bringing a verifiable truth in the event of future disputes.
BLOCKStrain (TSX-V:DNAX) was created to address these issues by harnessing the benefits of blockchain technology. With an open and agnostic platform, the company’s technology utilizes the benefits of blockchain and enables growers to protect and license their products and see the visibility of supply chain logistics in real-time, without having to worry about larger players stealing their genetics or failing to pay them licensing fees that they’re owed.
How It Works
BLOCKStrain began by partnering with licensed testing facilities, streamlining the lab process and reducing administrative red tape. For every batch of product that is processed through these facilities, a blockchain transaction is created, thus becoming a unique identifier that is used as the product passes throughout the supply chain, and every partner that interacts with this identifier along the way can be sure that it has received the correct product. The process also reduces the overhead associated with traditional testing, which involves a lot of paperwork.
Craft growers know when the product has been sold and if they are due a licensing fee, while licensed producers can reassure their customers that they are receiving the correct product and that it has been tested by a licensed facility and is safe for consumption. Regulators can also just as efficiently verify that products have been tested before they’re sent to market, using the same blockchain record, thus reducing the headaches of paperwork or non-streamlined electronic records.
Looking Ahead
BLOCKStrain Technology Corp (TSX-V:DNAX) represents a compelling opportunity within the rapidly growing cannabis industry. With a platform that appeals to craft growers, licensed producers, consumers, and regulators, the company could quickly become a leader in cannabis supply-chain logistics. Management also remains committed to growing shareholder value over the long run, and ultimately becoming a dominant player in the space.
“To investors, we promise to work tirelessly on their behalf and for the long-term growth of BLOCKStrain, ensuring this is the best tech company in the sector, and one that provides you with a solid and sound investment,” said CEO Robert Galarza.
Investors may want to take note sooner rather than later as this stock only recently began trading on the TSX Venture exchange.
For more information please visit the company’s website: http://blockstrain.io
Please follow the link to read the full article and to see the video interview: http://www.cannabisfn.com/exclusive-blockstrain-ceo-outlines-blockchains-potential-role-cannabis/
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