Collaboration will create first Blockchain-backed
hemp-derived fitness water—AKESO
VANCOUVER, Jan. 29, 2019 /CNW/ - BLOCKStrain Technology
Corp. (TSX:V: DNAX.V) (OTC: BKKSF) ("BLOCKStrain"),
creator of the first Blockchain-secured, fully-integrated IP
tracking platform for the cannabis industry, and NXT Water
LLC ("NXT Water"), the fastest-growing entrant in the
Hemp-Derived Beverage category, has established itself as a
turn-key manufacturing solution for the burgeoning CBD industry,
with its core focus on its most effective absorption modality,
water. BLOCKStrain and NXT have entered into a letter of
intent dated Jan. 10, 2019, to
integrate the BLOCKStrain technology into NXT's launch. The
partnership will develop and launch AKESO Functional Fitness Water,
a hemp-derived CBD beverage which will serve as the new benchmark
brand for NXT Water. The LOI will be superseded by a formal
agreement and the transactions contemplated therein are subject to
the approval of the TSX Venture Exchange.
"We look forward to working with NXT Water on this venture to be
able to provide verification and a new level of accountability to
the hemp-derived beverage category," stated BLOCKStrain CEO,
Robert Galarza. "It also provides
further validation of the value that our technology provides to the
cannabis industry, and to the brands seeking to provide customers
with insight and clarity into their products."
"There are many brands in the hemp-derived beverage space
making unsubstantiated claims regarding the ingredients, potency
and overall quality of their products," said Todd Waks, CEO of NXT Water. "Leveraging
BLOCKStrain's technology, AKESO will offer its customers a new
form of trust in the product they ingest."
"Access to AKESO's core ingredients is purposely quick and easy.
Customers simply use an internet-enabled device to scan the QR
code on the side of the bottle, offering real-time access to a
dashboard of ingredients, all verified using the Blockchain."
said Waks. "Data will be secured and authenticated via certificates
of analysis (COA) for both the hemp oil and purified water."
"We source only the best organically-grown hemp
oil, supplemented with oxygenated electrolytes, and loaded
with vitamins and minerals," said Waks. "We then use our
proprietary homogenization/infusion process to create the finest
odourless, colourless and cleanest-tasting water ever."
About BLOCKStrain: BLOCKStrain has developed the first
integrated blockchain platform to register and track intellectual
property in the cannabis industry. BLOCKStrain'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. BLOCKStrain's
technology is proprietary, immutable and cryptographically secure,
thereby establishing a single-source, accurate, validated, and
permanent account for cannabis strains from ownership to
market.
About NXT Water: Formed by seasoned executives from
the beverage, entertainment, and digital marketing
verticals, NXT Water has created AKESO, the finest functional
fitness water intended to significantly disrupt the functional
beverage industry and the burgeoning CBD industry, projected to be
valued more than $20 billion by
2024.
www.akesowater.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE
Disclaimer for Forward-Looking Information
This news release contains statements with respect to NXT
Water and its AKESO water product, and BLOCKStrain has not
independently verified any of these statements. Certain statements
in this release are forward-looking statements, which reflect the
expectations of management regarding the matters described herein.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Forward
looking statements in this news release include statements relating
to: the ability of BLOCKStrain's technology to provide full
transparency and quality assurance for consumers of AKESO water;
the expected operation of BLOCKStrain's technology with respect to
AKESO water; the quality and taste of AKESO water; and the intent
to change the way people approach their workouts to hydrate and
recover. Such statements are based on management's current
assumptions with respect to the expected application and
performance of BLOCKStrain's technology; the assumed content of the
products of AKESO water; and other factors, and are subject to
various risks and uncertainties that may cause actual results,
performance or developments to differ materially from those
contained in the statements, including that: BLOCKStrain's platform
may not operate as expected; the quality of the products included
in AKESO water may not be as expected; legislative changes may
occur that negatively impact BLOCKStrain's business or the ability
of NXT Water to produce and/or sell AKESO water; and other factors
beyond BLOCKStrain's. No assurance can be given that any of the
events anticipated by the forward-looking statements will occur or,
if they do occur, what benefits BLOCKSTRAIN will obtain from them.
Readers are urged to consider these factors carefully in evaluating
the forward-looking statements contained in this news release and
are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these
cautionary statements. These forward-looking statements are made as
of the date hereof and BLOCKStrain disclaims any intent or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or results or
otherwise, except as required by applicable securities
laws.
SOURCE BLOCKStrain Technology Corp.