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Trutrace Technologies Inc
Symbol TTT
Shares Issued 110,061,732
Close 2021-09-14 C$ 0.06
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Trutrace releases StrainSecure 2.0 software

2021-09-14 11:45 ET - News Release

Mr. Robert Galarza reports

TRUTRACE LAUNCHES STRAINSECURE 2.0 WITH NEW FEATURES THAT STREAMLINE CANNABIS AND CBD CULTIVATORS' PRODUCTION, SAFETY STANDARDS, AND TRACEABILITY WHILE INCREASING BRAND RECOGNITION

Trutrace Technologies Inc. has launched its transformational StrainSecure 2.0 platform. This groundbreaking software-as-a-service (SaaS) platform, designed specifically for the cannabis industry, 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. This launch adds a significant number of new features for collaboration, engagement, marketing and mobile integration, which will drive long-term value for business within the hemp and cannabis industries.

Trutrace chief executive officer Robert Galarza says: "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."

Most software systems utilized in the industry are fragmented and are built to simply manage internal operations, with very little interoperability into secondary systems. This leads to increased administrative costs, reduced revenue and increased risks for stakeholders. To tackle 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, including:

  • Real-time collaboration module: providing customers with a way to engage with business-to-business clients and partners about the details of every batch/lot produced or manufactured;
  • Inventory management system: a detailed inventory management system designed to interconnect required data and documentation -- whether at a company, location or batch/lot level;
  • Risk mitigation, recall prevention and management: providing each and every third party, collaborator and system connected to the product with details regarding a recall in real-time, mitigating potentially catastrophic losses;
  • Expanded digital documentation system: to help meet and ensure compliance with good manufacturing practices (GMP), and other commercial and industry standards;
  • Updated and enhanced product scan page: fully customizable solution provides companies with the ability to showcase product quality to consumers and further market their brand directly from a scan of their packaging;
  • Expanded API capabilities: providing easy interoperability amongst varying technology stacks, allowing clients to better access and use their data;
  • Blockchain and Internet of Things (IoT): giving customers the ability to easily integrate blockchain and IoT into their businesses.

"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," says Tony Antillon, chief operating officer of Riviera Beverages. "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. Implementing this technology could reduce or even prevent recalls keeping a company from taking crippling losses."

StrainSecure 2.0 includes a significant number of new features that facilitate higher standards and fuels business growth. One of which is the enhanced scan page, which serves as a marketing tool for brands, allowing them to:

  • Showcase their products' quality;
  • Provide valuable educational insights to customers;
  • Obtain analytics, such as how many times their product was scanned;
  • Age gating for cannabis and cannabidiol-related products, or products that require age verification prior to viewing;
  • Control over insights and the experience their customer has when purchasing their product;
  • Give customers the power to narrow their search and review details on the exact batch/lot in their hands;
  • Fully program the scan experience to support promotions, custom links, URLs -- putting their product details to good use.

"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," said Mr. Galarza, chief executive officer of Trutrace.

About Trutrace Technologies Inc.

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.

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