aries4747
3 years ago
TTTSF (.0401): TruTrace Technologies Joins the APAC Provenance Alliance to Expand Use of Blockchain Technology to Protect and Authenticate Products
7:00 AM ET 11/8/21 | BusinessWire
North American company joins a consortium of technology and service providers within the global food supply chain industry
TORONTO--(BUSINESS WIRE)--November 08, 2021--
TruTrace Technologies (CSE: TTT; OTCQB: TTTSF), developer of a fully-integrated blockchain platform for the legal cannabis, food, and pharmaceutical industries, is proud to announce that it has recently joined APAC (Asia Pacific) Provenance, which is an industry alliance that helps exporters digitally enable and scientifically prove the provenance, traceability and authenticity of their products.
APAC Provenance combines technology and research with established industry solutions, suppliers, and standards, to deliver practical solutions that strengthen the integrity of export supply chains. Members include industry leaders such as Fresh Supply Co, Source Certain International, Matthews Australasia, Opal Packaging, Escavox and Laava; as well as blockchain leader VeChain and many specialized marketing and packaging service providers.
"Over the past several years we have seen a change in the way that we engage with products and how interconnected we are throughout the world, " stated Robert Galarza, CEO of TruTrace. "To tackle the challenges of the complex global supply chain we must take a collaborative and cooperative approach and we are honoured to join such a remarkable group of companies and are excited to bring our value to the overall mission of APAC Provenance."
As supply chains continue to be stressed throughout the world, particularly within international exports, there has been a push for collaboration and innovation to mitigate these challenges. The alliance aims to directly meet these needs, as well as the ever-changing habits of customers who are demanding greater access to healthy, nutritious, and high-quality food and beverages. By combining the resources of all members, the alliance aims to bring together best in class technologies and services to support a blockchain-enabled and consumer verifiable supply chain. With transparency and provenance being a cornerstone of the alliance, there is significant value to high quality producers and manufacturers who want to engage directly with customers and share a genuine and engaging story about their products.
APAC Provenance Co-Founder and Laava ID Joint-CEO Gavin Ger said, "On behalf of APAC Provenance, I'm thrilled to see TruTrace join the alliance. Our fellow members and customers in the region are always striving to improve their track and trace and supply chain automation capabilities. TruTrace delivers these capabilities, as well as an incredible depth of capability in product assurance and lab/test report management, plus traceability of strains and cultivars -- to create a truly end-to-end solution for APAC Provenance clients. We look forward to exploring joint opportunities together for the benefit of industry and consumers."
About TruTrace Technologies
TruTrace Technologies is the developer of fully integrated software, secured on a blockchain infrastructure, that gives clients' the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation. For more information, please visit www.trutrace.co.
About APAC Provenance
Asia Pacific Provenance is an industry alliance which helps exporters digitally enable and scientifically prove the provenance, traceability and authenticity of their products, and tell the stories behind their brands. By combining the best capabilities of a range of key technologies, products and services, APAC Provenance offers exporters an integrated, yet modular suite of technology capabilities across the traceability, provenance, brand protection, marketing and packaging ecosystem.
Follow TruTrace:
LinkedIn: https://www.linkedin.com/company/trutracetech
Twitter: https://twitter.com/trutracetech
Instagram: https://www.instagram.com/trutracetechnologies
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon TruTrace current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future capacity for growth and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the Asia-Pacific market generally; the global food industry generally; the ability of TruTrace to implement its business strategies; the COVID-19 pandemic; competition; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, TruTrace does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for TruTrace to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in TruTrace's disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211108005273/en/
CONTACT: Media Contacts:
Corey Herscu for TruTrace Technologies
corey@verbfactory.com
+1 416-300-3030 (North America)
Gavin Ger for APAC Provenance
gavin@laava.id
+61 (0)402-023-703 (ANZ)
LinkedIn: https://www.linkedin.com/company/apacprovenance
SOURCE: TruTrace Technologies
Copyright Business Wire 2021
> Dow Jones Newswires
November 08, 2021 07:00 ET (12:00 GMT)
aries4747
3 years ago
PR from DNA Sciences. Supports TTTSF's StrainSecure 2.0.
Applied DNA Sciences : CertainT® Platform Support for TruTrace StrainSecure™ 2.0
09/14/2021 | 09:12am EDT
Applied DNA Announces CertainT® Platform Support for TruTrace StrainSecure™ 2.0 for Next Generation Cannabis Tagging, Testing and Tracking Advances Partnership Aimed at Streamlining Cannabis and CBD Cultivator Production, Safety Standards, and Traceability While Increasing Brand Recognition
STONY BROOK, N.Y. September 14, 2021.Applied DNA Sciences, Inc. (NASDAQ: APDN) (Applied DNA or the 'Company'), a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing and nucleic acid-based technologies, today announced that its CertainT® platform has added support for StrainSecure 2.0 by TruTrace Technologies, Inc. (CSE: TTT; OTCQB: TTTSF) ('TruTrace') that builds on the companies' strategic sales, marketing, and technology integration partnership to advance their vision of an integrated, cannabis product validation and authentication supply chain security solution for cannabis companies. The two companies recently announced that Flora Growth ('Flora') will utilize their integrated solution be as part of Flora's global cannabis product validation platform. TruTrace is the developer of a fully integrated blockchain platform for the legal cannabis, food, and pharmaceutical industries.
StrainSecure 2.0 is designed specifically for the cannabis industry and aims to demystify the seed-to-sale process for all relevant stakeholders, including producers, distributors, shippers, government agencies, and consumers, by powering commercial standards via an immutable, shared ledger. Applied DNA's CertainT platform has been integrated into TruTrace's StrainSecure software platform since the launch of the companies' strategic alliance in January 2021.
'Integrating our two platforms brings a unique end-to-end solution to the maturing international cannabis industry. With regulations and compliance standards being implemented worldwide, an integrated offering of StrainSecure 2.0 and CertainT can help cannabis companies meet these standards and provide product authenticity and transparency to end-user customers,' said John Shearman, vice president of marketing and cannabis lead at Applied DNA.
Applied DNA's CertainT platform provides the physical tagging of cannabis products using a unique molecular tag to represent the brand and product. That tag is then tested at key nodes within a domestic or international supply chain. All authentication and chain-of-custody data are captured in the CertainT portal, which integrates with the TruTrace platform and will support StrainSecure 2.0. The molecular tag can be applied to cannabis plants, oils, lotions, tablets, edibles, and packaging to serve as an immutable indicator of authenticity, origin, and provenance.
TruTrace's blockchain-based SaaS software is designed to guarantee product quality and strain genetics throughout global supply chains. Protecting consumers and brands from contaminants and counterfeiting is a key benefit of the platform.
Robert Galarza, CEO of TruTrace, stated, 'Over the past two years and after extensive work with key partners, such as Applied DNA, we've gained a deep understanding of the new challenges facing this industry. Version 2.0 of StrainSecure, as well as its interoperability with CertainT, will allow us to provide clients with turnkey tools specifically designed to support product quality, traceability, customer engagement, and safety.'
Most software systems utilized in the industry are fragmented and are built to manage internal operations, with very little interoperability into secondary systems. This fragmentation leads to increased administrative costs, reduced revenue, and increased risks for stakeholders. To address some of these issues, StrainSecure 2.0 will include several robust features tailored to decrease administrative costs, increase revenue, scale business operations, and highlight product quality. StrainSecure 2.0 also includes a significant number of new features, including full integration into the CertainT® platform, that facilitate higher standards and fuels business growth. One such new feature is the Enhanced Scan Page, which serves as a marketing tool for brands by providing real-time data on products at the package level.
Galarza added, 'The expectations of customers, as it relates to the quality of the products they choose to consume, has never been higher. StrainSecure 2.0 focuses on promoting good actors in the industry and giving them a solution, which unifies their network, mitigates risk, ensures compliance with commercial standards, and creates a safer and more consistent marketplace for their customers. Globally focused hemp and cannabis businesses equip themselves with StrainSecure™ to scale their business.'
About Applied DNA Sciences
Applied DNA is commercializing LinearDNA™, its proprietary, large-scale polymerase chain reaction ('PCR')-based manufacturing platform that allows for the large-scale production of specific DNA sequences.
The LinearDNA platform has utility in the nucleic acid-based in vitro diagnostics and preclinical nucleic acid-based drug development and manufacturing market. The platform is used to manufacture DNA for customers as components of in vitro diagnostic tests and for preclinical nucleic acid-based drug development in the fields of adoptive cell therapies (CAR T and TCR therapies), DNA vaccines (anti-viral and cancer), RNA therapies, clustered regularly interspaced short palindromic repeats (CRISPR) based therapies, and gene therapies. Applied DNA has also established a COVID-19 diagnostic and testing offering that is in the early stages of commercialization and is grounded in the Company's deep expertise in DNA.
The LinearDNA platform also has non-biologic applications, such as supply chain security, anti-counterfeiting and anti-theft technology. Key end-markets include Gov/Mil, textiles, pharmaceuticals and nutraceuticals, and cannabis, among others.
Visit adnas.com for more information. Follow us on Twitter and LinkedIn. Join our mailing list.
The Company's common stock is listed on NASDAQ under the ticker symbol 'APDN,' and its publicly traded warrants are listed on OTC under the ticker symbol 'APPDW.'
Applied DNA is a member of the Russell Microcap® Index.
About TruTrace Technologies
TruTrace Technologies is the developer of fully-integrated software, secured on a blockchain infrastructure, that gives clients' the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation. For more information, please visit https://www.trutrace.co/.
Forward-Looking Statements
The statements made by Applied DNA in this press release may be 'forward-looking' in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA's future plans, projections, strategies, and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. Actual results could differ materially from those projected due to its history of net losses, limited financial resources, limited market acceptance, including Applied DNA's ability to successfully enter into commercial contracts for the implementation of its CertainT® platform, shifting enforcement priorities of U.S. federal laws and other international laws relating to cannabis and cannabis derivative products, and various other factors detailed from time to time in Applied DNA's SEC reports and filings, including our Annual Report on Form 10-K filed on December 17, 2020, and Quarterly Reports on Form 10-Q filed on February 11, 2021, May 13, 2021, and August 12, 2021, and other reports we file with the SEC, which are available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.
Investor contact
Sanjay M. Hurry
917-733-5573
[email protected]
Program contact
John Sherman
631-240-8838
[email protected]
Attachments
Original document
Permalink
Disclaimer
Applied DNA Sciences Inc. published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 13:11:02 UTC.
aries4747
3 years ago
TTTSF (.0475) TruTrace Technologies launches 2.0 version of its StrainSecure cannabis-tracking technology
The new version adds a number of new features to the blockchain-enabled technology, such as expanded API capabilities and digital documentation system.
Other improvements include a real-time collaboration module, a detailed inventory management system, and risk mitigation and recall prevention tools
TruTrace Technologies Inc has launched a new version of its proprietary cannabis-tracking platform StrainSecure.
The 2.0 version of the platform adds a number of new features to the blockchain-enabled technology, such as expanded API capabilities and digital documentation systems.
Most notably, the enhanced scan page gives brands a fully-customizable solution to showcase their product’s quality to consumers and market directly from a scan of their packaging.
READ: TruTrace Technologies to roll out cannabis validator with top cannabis cultivator Flora Growth
Other improvements include a real-time collaboration module, a detailed inventory management system, and risk mitigation and recall prevention tools.
"Over the first two years of our business, and after extensive work with leading organizations such as Shoppers Drug Mart (Loblaws), University Health Network, and Deloitte, we’ve gained a deep understanding of the new challenges facing this industry. The second version of StrainSecure will allow us to provide our clients with turnkey tools specifically designed to support the quality of their products and increasing engagement with their customers,” TruTrace CEO Robert Galarza told shareholders in a statement.
According to Vancouver-based TruTrace, most software systems utilized in the industry are fragmented or built only to manage internal operations, which leads to increased administrative costs, reduced revenue and more risks. StrainSecure 2.0 is designed to decrease administrative costs, increase revenue, scale business operations and highlight product quality, the company noted.
Riviera Beverages COO Tony Antillon said that implementing StrainSecure could reduce or prevent recalls, keeping a company from “crippling losses".
"The technology developed by TruTrace is revolutionary not only in its ability to showcase good management practices in action, but also the ability to mitigate significant recall risks in the consumer packaged goods space," Antillon told investors.
"The costs associated with a recall are extremely high as manufacturers must cover costs on a per-store and per-item basis with lack of transparency and traceability being a major contributing factor.”
TruTrace develops fully integrated software, secured on a blockchain infrastructure, that allows brands to store, manage, share, and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas
Boredoftv
3 years ago
Nice move by TruTrace today!
Flora Growth Launches Cutting-Edge Global Cannabis Distribution Strategy, Implements Pharmaceutical Standards For Its Supply Chain
Mentioned: APDN FLGC TTTSF
Flora Growth Corp. (NASDAQ: FLGC) ("Flora" or the "Company"), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is pleased to announce it has signed agreements with TruTrace Technologies, Inc. (CSE: TTT; OTCQB: TTTSF) ("TruTrace") and Applied DNA Sciences, Inc. (NASDAQ: APDN) ("Applied DNA") to launch a complete and differentiated global cannabis product validation and authentication platform for consumers, distributors, and government regulators. This initiative further demonstrates Flora's commitment to operational excellence and transparency enabling immutable genome-to-sale supply chain validation for domestic and international trading partners and government regulators, as the Company seeks to establish a new global standard for cannabis distribution practices. The technology integration and build-out is well underway, with management anticipating its use for customers in the recently announced agreements to export cannabis products internationally to South Africa and Australia (see press releases dated July 26th and July 29th, respectively).
Flora will use TruTrace's blockchain-based SaaS software to track inventory and product quality testing, including molecular tagging through Applied DNA's CertainT platform to track the cannabis flower and derivatives originating from its Cosechemos cultivation and extraction facility. The implementation of these technologies will ensure the products exported out of Colombia and delivered to global customers are derived directly from Flora's operations, substantially reducing any concerns over counterfeit or illicit market products. Flora anticipates using this technology will further differentiate its low-cost, organically produced cannabis flower and derivatives from competitors as they can rest assured regarding the immutable journey these products traversed.
"In today's globalized market, supply chain provenance is becoming an increasingly important component for every major international CPG company. This is particularly true for the cannabis industry, where concerns over the sale and distribution of products from the illicit market persist for businesses," commented Jason Warnock, Flora Growth's Chief Revenue Officer. "Flora anticipates that the added assurance, efficiency, and transparency brought by these technologies will optimize our value proposition to customers, differentiate us from peers, and increase our sales opportunities."
"Agriculture is one of the oldest industries known to man, yet the technology necessary to support the cannabis industry continues to lag behind many others. This solution will empower Flora and its trading partners with tools needed to report and rapidly search through records in real-time," said Robert Galarza, CEO of TruTrace. "Today's cannabis industry is desperately seeking legitimacy as it gains global acceptance, moving from the underworld of the illicit drug trade into a transparent and highly regulated emerging industry. The immutable power of big data is the key to that trust, and we applaud Flora Growth for launching this cutting-edge initiative to lead the charge in setting a new global standard for cannabis distribution."
"We are pleased for the opportunity to empower Flora's global supply chain strategy with our CertainT platform," stated Dr. James Hayward, President and CEO of Applied DNA. "Through our integration with TruTrace, we are injecting an unprecedented level of transparency, traceability, and trust into cannabis supply chains reflective of Flora's commitment to its global customer base."
Boredoftv
3 years ago
TruTrace Technologies (CSE: TTT; OTCQB: TTTSF), a developer of a fully-integrated blockchain platform for the legal cannabis, food, and pharmaceutical industries, today announced that it has signed a letter of intent with LeafWorks Inc., a female-founded AgTech genomics company specializing in plant identification, research and development initially for the cannabis industry, to create a blockchain-secured platform for supply chain validation in order to meet growing standards within the cannabis industry.
LeafWorks' proprietary supply chain certification service is a DNA-based testing method that tracks and verifies a client's cannabis material as it moves across the supply chain. LeafWorks' third-party verification service tracks samples, assesses batch consistency, incorporates DNA-level quality control measures, and mitigates fraud both in and out of a client's supply chain. With TruTrace providing the means to secure this information via blockchain and providing traceability throughout the supply chain, cannabis cultivators will soon have a critical tool for incorporating validation testing into their operations to meet FDA and cGMP level compliance.
"As the cannabis and hemp industries continue to evolve, it will be absolutely vital for manufacturers and cultivators to provide validation within the supply chain," says LeafWorks Inc.'s Co-Founder and Chief Scientific Officer, Kerin Law, PhD. "Whether via the implementation of regulations or commercial standards, we are leading the market with data-driven solutions to meet the demands of a maturing marketplace."
"The days of cannabis prohibition are numbered, and the roles of cannabis in both medical and recreational settings will continue to gain acceptance. For cultivators, this means taking a mature approach to their supply chain in order to meet the growing demands of larger distribution partners," says Robert Galarza, CEO of TruTrace. "This partnership provides a foundation for continued advancement, as the extensive testing and profiling provided by LeafWorks will now be secured on the immutable ledger of the TruTrace blockchain."
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Golden Cross
4 years ago
Hot Features
Premium
