Pilot Program designed to increase
transparency, interoperability and product identification within
the medical cannabis industry
TORONTO and LEAMINGTON, ON, Sept.
5, 2019 /CNW/ - Aphria Inc. ("Aphria") (TSX:
APHA and NYSE: APHA) and TruTrace Technologies Inc. (CSE:
TTT; OTCQB: TTTSF) ("TruTrace") today announced
that Aphria has joined Phase 2 of the Shoppers Drug Mart
("Shoppers") medical cannabis verification pilot program (the
"Pilot Program"). The blockchain-secured Pilot Program is
specifically designed to increase transparency, interoperability
and product identification within the medical cannabis
industry.
The Pilot Program uses TruTrace's StrainSecure™ technology as a
central hub for identity management, asset tracking, validation,
and product authentication. StrainSecure also serves as a master
registry for standardized testing, product verification, and
quality assurance.
First announced by Shoppers in June at the second annual World
Cannabis Congress in Saint John, New
Brunswick, the Pilot Program is expected to help researchers
and clinicians match therapeutic outcomes to specific genetic and
chemical profiles, and provide physicians, pharmacists, and
patients with greater confidence in the products they prescribe or
consume.
"We are thrilled to partner with Shoppers Drug Mart and TruTrace
Technologies to increase transparency within the medical cannabis
industry," said Irwin D. Simon. "At
Aphria Inc., we take responsibility to heart and recognize the
importance of standardized testing and quality assurance. This
program reflects our ongoing commitment to protecting the health
and safety of our patients."
Shoppers recently announced the successful completion of Phase 1
of the Pilot Program and the addition of Deloitte Canada LLP in a
project management and advisory role to execute Phase 2. Full
production and implementation is targeted for late November 2019.
"The participation of a major licensed producer like Aphria,
with their expertise and dedication to medical patients, is
essential to the success of the Pilot Program," said TruTrace
Technologies CEO Robert Galarza.
"Together we are working to develop a unified approach to medical
cannabis standards that will help ensure full traceability and
consistent patient outcomes."
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.
About Aphria
Aphria Inc. is a leading global cannabis company driven by an
unrelenting commitment to our people, the planet, product quality
and innovation. Headquartered in Leamington, Ontario – the greenhouse capital
of Canada – Aphria Inc. has been a
leader in low-cost production of high-quality cannabis at scale,
grown in natural conditions. Focusing on untapped opportunities and
backed by the latest technologies, Aphria Inc. is committed to
bringing breakthrough innovation to the global cannabis market. The
Company's portfolio of brands is grounded in expertly-researched
consumer insights designed to meet the needs of every consumer
segment. Aphria Inc. drives sustainable long-term shareholder value
through a diversified approach to innovation, strategic
partnerships and global expansion, with a presence in more than 10
countries across 5 continents. For more information, visit:
aphriainc.com
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated
blockchain platform to register and track intellectual property in
the cannabis industry. TruTrace's technology allows cannabis
growers and breeders to identify and secure rights to their
intellectual property. It also streamlines the administrative
process and reduces the costs of genetic and mandatory
quality-control testing for legal cannabis. TruTrace's technology
is proprietary, immutable and cryptographically secure, thereby
establishing an accurate and permanent account for cannabis strains
from ownership to market.
Disclaimer for Forward-Looking Information
This news release includes forward-looking information within
the meaning of Canadian and U.S. securities legislation, concerning
the business of TruTrace and Aphria's participation in the Pilot
Program, including statements regarding: the Pilot Program,
including its intended scope, characteristics, and perceived
benefits; the ability of TruTrace Technologies' platform to
increase transparency, interoperability and product identification
within the medical cannabis industry; that the initiative should
allow researchers and clinicians to match therapeutic outcomes to
specific genetic and chemical profiles, and provide physicians,
pharmacists, and patients with greater confidence in the products
they prescribe or consume; and that Phase 2 of the Pilot Program is
expected to be completed by November
2019, followed by full production and implementation.
Although the Company believes that the expectations and assumptions
on which such forward-looking information is based are reasonable,
undue reliance should not be placed on the forward-looking
information because the Company can give no assurance that it will
prove to be correct and actual results and future events could
differ materially from those anticipated in such information.
Forward-looking information necessarily involves known and unknown
risks, including, without limitation, risks associated with:
general economic conditions; adverse industry events; loss of
markets; future legislative and regulatory developments in
Canada, the United States, and elsewhere; inability to
access sufficient capital from internal and external sources,
and/or inability to access sufficient capital on favourable terms;
and other risks beyond the Company's control. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties and other factors, many of which are beyond the
control of the Company. Readers are cautioned not to place undue
reliance on any forward-looking information contained in this news
release. Forward-looking information contained in this news release
is provided as of the date of this news release. The Company
disclaims any intent or obligation to update publicly any
forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE TruTrace Technologies Inc.