solo sciences and 14th Round Team Up to Protect Consumers from Counterfeit Products

Date : 12/09/2019 @ 2:39PM
Source : GlobeNewswire Inc.
Stock : Akerna Corporation (KERN)
Quote : 7.28  0.22 (3.12%) @ 11:30PM

solo sciences and 14th Round Team Up to Protect Consumers from Counterfeit Products

Akerna (NASDAQ:KERN)
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solo sciences, an Akerna company (Nasdaq: KERN), the world’s first cryptographically-secured product authentication system, has entered into an agreement with leading cannabis design and technology firm, 14th Round to add its solo*CODE authentication tag to its vaporizer brands. The deal further advances solo’s efforts to address regulatory compliance throughout the entire supply chain, enhancing product safety for consumers.

Thanks to this collaboration, solo sciences trust mark authentication will be a default feature for 14th Round’s high-profile cannabis vaporizer brands. 14th Round creates and supplies custom hardware and packaging for an estimated 40 plus percent of California’s vaporizer market, the largest in the world. 14th Round is also the number one vaporizer and packaging supplier in North America.

“Through this collaboration, we intend to set a standard the whole industry can embrace,” said 14th Round CEO, Trent Overholt. “It became clear to both of us that anti-counterfeiting wasn’t a nice-to-have, but rather a necessity for consumer safety, much like how seatbelts and airbags became default features in properly designed and engineered cars.”

The legal cannabis industry has grown substantially in recent years, yet dangerous counterfeit products remain a threat to the safety of both recreational and medicinal users. solo sciences’ technology solves this by restricting counterfeiters’ ability to create fake packaging. Unlike other authentication technologies, the solo*CODE™ — a unique identifying mark — can be applied to any pre-existing product without the need for packaging redesign. Consumers scan the solo*CODE with a proprietary app that decrypts it to verify product authenticity and provide consumers with detailed product information. The app also provides discount opportunities and the ability to discover new products available in stores.

“To support this nascent legal industry's continued growth, companies must collaborate with one another and government regulators to implement solutions that put customer safety first,” said solo sciences Founder and CEO, Ashesh (Alex) Shah. “We are proud to be working with the leading platform 14th Round, who, like us at solo sciences, find product quality, consistency, and safety to be paramount.”

On November 26, Akerna, a leading cannabis compliance technology provider and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), announced it has taken a majority stake in solo sciences. The investment in solo and the deal with 14th Round strengthen Akerna’s efforts to create the pre-eminent global technology to address the entire supply chain and its regulatory bodies through accountability and transparency.

To learn more about how solo sciences groundbreaking technology enables consumer safety from counterfeit cannabis products, visit: solosciences.com.

About Akerna

Akerna is a global regulatory compliance technology company in the cannabis space. Akerna’s service offerings include MJ Platform®, Leaf Data Systems®, and solo sciences tech platform. Since its establishment in 2010, the company has tracked more than $16 billion in cannabis sales. As part of its business strategy, Akerna intends to grow through targeted, strategic acquisitions that are complementary to its current business and organically by accelerating its product development efforts. Akerna is based in Denver. For more information, please visit www.akerna.com.

About solo sciences

solo sciences, an Akerna company, provides next-generation anti-counterfeiting technology fused with a direct communication system between brands and consumers via solo*, its proprietary technology offerings, comprised of solo*TAG™ for supply-chain validation, a consumer-facing solo*CODE™ cryptographically secure trust mark, patented solo* mobile-first app, solo*ID®, and AI-driven backend system. The solo sciences mission is to build confidence and establish trust among consumers while enabling retailers and distributors to close the loop with creators and producers. For more information, visit solosciences.com.

About 14th Round

14th Round Inc. is the design and technology company that’s building the best brands in cannabis. With a full suite of services including custom vaporizer technology design and manufacturing, branding, and retail packaging solutions that are certified child-resistant, their client roster of brands leads the industry in the United States and Canada. For more information, please visit www.14thrnd.com.

Forward-Looking Statements

Certain statements made in this release and in any accompanying statements by management are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Akerna’s control, that could cause actual results or outcomes (including, without limitation, the results of Akerna’s contracts, strategic initiatives, and business plans as described herein) to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include (i) Akerna’s ability to recognize the anticipated benefits of being a public company, (ii) competition, (iii) Akerna’s ability to grow and manage growth profitably, (iv) Akerna’s ability to maintain relationships with customers and suppliers and retain its management and key employees, (v) costs related to being a public company, (vi) changes in applicable laws or regulations, (vii) Akerna’s ability to identify and integrate acquisitions and achieve expected synergies and operating efficiencies in connection with acquired businesses, (viii) and other risks and uncertainties disclosed from time to time in Akerna’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.  Actual results, performance, or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those vary from forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial and other information, are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond Akerna’s control. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna’s industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

Contacts:

Media Contact:Investor Contact:
D. Nikki WheelerJason Assad
303-514-2012678-570-6791
Nikki.Wheeler@Akerna.ComJassad@Akerna.Com

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