TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) (“TruTrace“), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, today announced that it has signed a letter of intent (“LOI“) to establish a strategic working relationship with Anandia Laboratories Inc. (“Anandia“). The two companies intend to collaborate on an integrated testing solution in relation to TruTrace’s development of a blockchain-secured traceability ecosystem for the cannabis industry.
Anandia is considered an industry leader in science, genetics, and independent cannabis product testing. Pursuant to the LOI, Anandia will serve as a primary analytical and genetic testing partner in the TruTrace ecosystem. The parties will also explore ways to work together on rapidly expediting and optimizing the testing processes under the Cannabis Act (Canada) as set forth by Health Canada, as well as evolving genetic testing practices in the cannabis industry.
Anandia is also expected to be one of the featured testing facilities in the Shoppers Drug Mart (“Shoppers”) and TruTrace Technologies medical cannabis verification pilot program (the “Pilot Program”). As announced by Shoppers at the second annual World Cannabis Congress, the Pilot Program is built on TruTrace’s proprietary StrainSecure™ platform, which focuses on testing and verification to confirm the origin, authenticity and quality assurance of cannabis products.
“We are very excited to have Anandia join us as a testing partner in the StrainSecure ecosystem,” said TruTrace Technologies CEO Robert Galarza. “Its genetic testing expertise and capabilities combined with its full range of analytical testing makes it a ‘one-stop shop’ that we expect will play an important role in our traceability program.”
“Establishing a comprehensive traceability program is an important step for the cannabis industry in offering full transparency and verification for patients and consumers,” said Dr. John Coleman, Anandia President and Co-Founder. “We are supportive of these objectives and look forward to working with TruTrace, Shoppers and others in the Pilot Program.”
Under the StrainSecure program, the TruTrace team 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.