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Trutrace Technologies Inc
Symbol TTT
Shares Issued 110,061,732
Close 2021-07-29 C$ 0.055
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Trutrace signs LOI with LeafWorks for pot blockchain

2021-07-29 11:37 ET - News Release

Partnership will providesignificant value for cultivators and manufacturers by enabling them to scale their businesses with supply-chain validation

TORONTO -- (Business Wire)

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.”

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 LeafWorks Inc.

LeafWorks Inc. is an AgTech genomics company co-founded by CEO Eleanor Kuntz, PhD, and CSO Kerin Law, PhD, specializing in plant identification, research, and development to protect and advance the cannabis, hemp, and herbal industries. LeafWorks Inc. helps cultivators continue to be leaders in their industry by providing plant DNA testing services to help preserve genetic IP, improve efficiency, and ultimately optimize their grow. Comprised of a diverse leadership team of specialized plant geneticists trained in next-generation genomics and phenomics, LeafWorks is the first AgTech genomics company to offer a comprehensive DNA validation system in the cannabis industry. Learn more about LeafWorks Inc. at www.leafworks.com, and connect on Facebook, Instagram, Twitter, and LinkedIn.


Corey Herscu for TruTrace Technologies

Rishi Masalia for LeafWorks

Source: TruTrace Technologies

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