Waiting for updates coming soon Calyx Provides Update on Development of Blockchain-Based Canadian Cannabis Marketplace Platform
Monday, February 26, 2018, 8:00 AM ET
Calyx Provides Update on Development of Blockchain-Based Canadian Cannabis Marketplace Platform
VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Calyx Ventures Inc. (TSX.V:CYX) ("Calyx" or the "Company") is pleased to provide an update on the development status of its Canadian Cannabis Exchange Platform. Calyx's wholly-owned subsidiary, Cannigistics Agri-Solutions Corp. is both on schedule and on budget in building out its commercial platform which when completed will facilitate mass commercial cannabis and derivative transactions in an orderly market-based fashion.
"As the cannabis landscape matures, the necessity for an independent fluid marketplace is becoming increasingly more apparent," explained Roger Forde, Chief Executive Officer of Calyx. "To this end we are building an infrastructure to allow for current and future Licensed Producers to get their product to both foreign and domestic markets quickly, efficiently and affordably."
The marketplace and quotation system is modelled after a proven and functional technology currently in service in the Canadian agricultural marketplace. The Company's extensive development and customization of the system will use a distributed ledger to handle and track contracts and transactions.
"Blockchain technology is naturally suited to marketplace applications. This particular market has a need for transaction verification and transparency, so we feel that building the platform around a blockchain ledger will give it traction with both market participants and regulatory authorities," Forde said.
"We see great opportunity in the cannabis market's needs for efficiency, liquidity and accountability, and intend to provide these through our platform in time for the advent of the recreational market this summer" stated Roger Forde, Chief Executive Officer of Calyx.
About Calyx
Calyx operates a software development business which produces custom software for enterprises and innovative, well-financed startups. Calyx operates through two wholly-owned subsidiaries, Cannigistics Agri-Solutions Corp., a software development business that has created a software platform originally designed for advanced indoor agriculture, has now evolved to serve a wider range of industries and Canada Blockchain Holdings Corp., a company operating in the blockchain technology and cryptocurrency sector. Calyx also owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
Roger Forde
President and Chief Executive Officer
Calyx Ventures Inc.
Tel: 604.880.8822
Email: rogerf@calyxbio.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.
(END) Dow Jones Newswires
February 26, 2018 08:00 ET (13:00 GMT)