TORONTO, January 14, 2020 – TruTrace Technologies Inc. (CSE: TTT) (OTCQB: TTTSF) (“TruTrace” or the “Company“), creator of a fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, today provided an updated outlook for its corporate strategy and priorities for 2020. Highlights include a targeted expansion of the Company’s StrainSecuretm traceability platform into the pharmaceutical and nutraceutical verticals, as well as entry into several international markets.
“The success of the medical cannabis verification pilot program has been tremendously important for us. It has validated our technology and begun to establish the StrainSecure platform as a potential de facto standard for quality assurance and traceability in the Canadian cannabis industry,” said TruTrace Technologies CEO Robert Galarza. “We are currently focused and investing additional resources on transition of our platform into a fully operational ecosystem that could provide a revenue stream and in turn enable us to achieve cash-flow positive operations by the end of calendar year 2020, while also allowing us to pursue other exciting opportunities.”
Mr. Galarza continued: “The technology we initially deployed in the medical cannabis sector is highly applicable in other verticals such as pharmaceuticals, nutraceuticals and even food safety, where it is equally important to have complete transparency on the origin and authenticity of products. In the next year we are aiming to establish a foothold in these sectors, as well as extend our footprint in cannabis traceability into several markets outside of Canada.”