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Harvest One Announces Completion of Phase I of the Shoppers Drug Mart & TruTrace Technologies Pilot Program for Validation of Medical Cannabis
VANCOUVER, Aug. 14, 2019
VANCOUVER, Aug. 14, 2019 /PRNewswire/ - Harvest One Cannabis Inc. ("Harvest One" or the "Company")(TSX-V: HVT; OTCQX: HRVOF) is pleased to announce that the Company's wholly-owned subsidiary, United Greeneries Ltd. ("United Greeneries"), has completed Phase I of a pilot program (the "Pilot Program") in conjunction with Shoppers Drug Mart ("Shoppers") and TruTrace Technologies Inc. ("TruTrace")(CSE: TTT; OTCQB: TTTSF) designed to increase the transparency and validation of products within the medical cannabis industry.
The Pilot Program uses the StrainSecure™ technology as a master registry for standardized testing, product verification, and quality assurance. Under StrainSecure™, plant testing data and genomic verification for each plant batch is utilized for intellectual property protection and strain validation.
As recently announced by Shoppers, Phase 1 of the Pilot Program has been completed and United Greeneries successfully met all of the requirements of Phase 1 due in part to their early adoption of TruTrace's StrainSecure™ platform and implementation of the Master Genome Strain and Clone Registration Program. Phase 2 is expected to run until late November, followed by full production and implementation.
"Now that we have completed Phase 1 of the Pilot Project, medically-registered patients can have an increased level of confidence in the consumption of our Satipharm branded cannabis through Shoppers" said Grant Froese, CEO of Harvest One. "We are delighted to be a part of this groundbreaking effort that is leading the way towards transparency and traceability within the medical cannabis industry."
"Harvest One has been a strong supporter of our mission and an early adopter of our technology for quite some time," said Robert Galarza, CEO of TruTrace Technologies. "Their entire team views the medical cannabis industry with a great deal of sophistication and foresight; TruTrace is very excited to be working with Harvest One on this program."
In February 2019, Harvest One joined TruTrace's Master Genome Strain and Clone Registration Program. In the following months, DNA was collected from United Greeneries cannabis strains and registered with StrainSecure™. Following the registration of its strains, an initial set of Harvest One products were provisioned to carry TruTrace's Seal of Authenticity. This process provides an independent means for Harvest One to guarantee the origin of its products, thereby offering its consumers increased transparency and quality assurance.
Through its early participation in the StrainSecure™ system, Harvest One was ideally positioned for the Shoppers Pilot Program, which is founded on the same technology. Harvest One is evaluating further opportunities to exploit the detailed, genetic-level knowledge of its various strains.
About Harvest One Cannabis Inc.
Harvest One is a global consumer packaged goods company that develops and distributes premium health, wellness, and lifestyle products to patients and consumers in regulated markets around the world. The Company's portfolio of premium products is designed to enhance the quality of life. Shareholders have significant exposure to the entire cannabis value chain through four wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); Dream Water Global and Delivra (consumer products with an emphasis on sleep, pain, and anxiety), and a minority interest in Burb Cannabis (retail operations). For more information, please visit www.harvestone.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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE Harvest One Cannabis Inc.