Applied DNA and Old Port Oil to Conduct First Pilot to Tag CBD Oil
December 11 2019 - 9:15AM
Business Wire
CertainT® Platform Protects IP and Proves
Product Origins
Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA”), a
leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing
for product authenticity, traceability solutions and nucleic
acid-based biotherapeutic development, announced today it will
conduct a funded pre-commercial pilot to tag cannabidiol (CBD) oil
for Old Port Oil, Company (“Old Port Oil”) using its CertainT®
platform to tag, test and track the CBD oil product. Newly formed
Old Port Oil, a cannabis processor company, will soon launch its
first CBD product and turned to Applied DNA’s CertainT platform to
ensure its brand and IP protection and prove the origin of its CBD
product proudly produced in Maine. Upon successful completion of
the pilot project, Old Port Oil expects to ramp up commercial
production in January and anticipates it will tag 100% of its
inaugural product over the course of 2020.
Scott Keeler, Founder Old Port Oil, stated, “We are very
impressed with the CertainT platform which allows us to provide our
customers with uncontestable proof of product origin and, at the
same time, protects our brand from counterfeits and misuse in the
market place.”
John Shearman, Vice President of Marketing and Cannabis Business
Lead at Applied DNA, said, “We are very excited to have the
opportunity to work with Scott and the team at Old Port Oil to
implement our CertainT platform as a strategic component to their
business plan and go-to-market strategy. As the cannabis industry
continues to mature and go through growing pains just like any
other emerging industry, it will require an ecosystem of
technologies, processes and procedures and compliance frameworks to
remove the uncertainty over time. Companies like Old Port Oil, who
recognize this need out-of-the-gate and implement innovative
solutions, will lead the market and create successful
companies.”
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping and pre-clinical nucleic acid-based
therapeutic drug candidates.
Applied DNA makes life real and safe by providing innovative,
molecular-based technology solutions and services that can help
protect products, brands, entire supply chains, and intellectual
property of companies, governments and consumers from theft,
counterfeiting, fraud and diversion.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
Common stock listed on NASDAQ under the symbol APDN, and
warrants are listed under the symbol APDNW.
About Old Port Oil
Old Port Oil Co is a wholesale CBD oil manufacturer and
processor based in Maine. We locally source our products from
tested and certified ingredients and use state-of-the-art equipment
and techniques to produce oils, blends, and isolates of the highest
quality. We are proud to be the first company in the country to
utilize CertainT technology to produce the industry's first
molecular tagged and traceable CBD products that allows us to track
product from seed to store.
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 substantial
doubt relating to Applied DNA’s ability to continue as a going
concern, the possibility of failure to make timely payment on its
outstanding secured convertible notes and resulting enforcement by
noteholders of remedies on collateral which includes substantially
all of Applied DNA’s assets, its history of net losses, limited
financial resources, limited market acceptance, its ability to
penetrate key markets, including its ability to successfully enter
into commercial contracts for the implementation of its CertainT®
platform, shifting enforcement priorities of US federal laws
relating to cannabis, 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 18, 2018, as amended,
our subsequent quarterly reports on Form 10-Q filed on February 7,
2019, May 9, 2019 and August 13, 2019, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20191211005540/en/
investors: Sanjay M. Hurry, LHA Investor Relations,
212-838-3777, shurry@lhai.com program: John Shearman,
631-240-8838, john.shearman@adnas.com web: www.adnas.com
twitter: @APDN
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