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VANCOUVER, June 7, 2018 /CNW/ - BLOCKSTRAIN TECHNOLOGY
CORP. (the "Company" or "BLOCKStrain") (TSXV: DNAX) is pleased to announce that cannabis pioneer
Derek Pedro has agreed to join the Company's Advisory Board.
Mr. Pedro was a co-founder and Master Grower at Maricann Group Inc., an early Licensed Producer under the Access to Cannabis
for Medical Purposes Regulations (ACMPR), and is currently the Design, Cultivation and Production Partner at WeedMD Inc., where
he designed and supervised construction of that company's production facility in Ontario.
Mr. Pedro's experience in the legal Canadian cannabis industry extends back to 2003 when he first cultivated cannabis for
medical patients under the older Medical Marijuana Access Regulations, which he turned into a co-operative business with 14
locations, designed to provide low-cost medical cannabis to patients with lower incomes. Mr. Pedro later built the first
'hybridized' cannabis greenhouse in Canada, allowing growers to produce high quality cannabis in
a modified greenhouse setting.
As Canada shifted to the new, government controlled model of cannabis production under the
ACMPR, Mr. Pedro again played a pivotal role by bringing 54 live strains and 25,550 seeds into the legal cannabis system. Today,
many of those strains form a major part of Canada's genetic seed bank for cannabis. Mr. Pedro is
also heavily involved in research and development as one of Canada's premier breeders of new
cannabis strains, including Pedro's Wine Gums, the most popular strain currently sold by WeedMD.
Robert Galarza, CEO of BLOCKStrain, says having Pedro's deep expertise on the Advisory Board is
critical as the company develops its software for use in the evolving legal cannabis industry in Canada.
"There are very few people in the world who have the breadth and depth of knowledge of our industry as Derek Pedro," stated Galarza. "He is both a pioneer and a legend in this industry, and his knowledge of strain
genetics and production systems is incredibly beneficial to us as BLOCKStrain builds and adapts its platform for Licensed
Producers and other industry stakeholders in Canada."
Pedro says he is keen to join the Advisory Board, as he feels BLOCKStrain's proprietary software answers a core issue that has
plagued his own business since the beginning of the legal cannabis industry under the MMAR.
"A while ago I was asked by a colleague, 'how can you protect your intellectual property of the strains you develop in this
industry', and my answer was, 'right now, you can't," Pedro says. "But I had long thought it was very important that we develop
such a system, so when the team at BLOCKStrain explained what they were doing, and how they were doing it, I was very
excited."
Pedro says the key elements he wants to see developed are the ability to protect a grower's intellectual property and the
ability for governments to accurately 'track and trace' shipments of cannabis.
"BLOCKStrain's system addresses both those issues with a very elegant solution, and I have no doubt that this company and its
software will play a major role in the growth of the legal cannabis industry, not just in Canada, but around the world," Pedro said.
Mr. Pedro has been granted 500,000 stock options for his role on the BLOCKStrain Advisory Board.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert Galarza"
Robert Galarza
Chief Executive Officer and Director
About BLOCKStrain Technology Corp.
BLOCKStrain Technology Corp. (TSXV: DNAX) has developed the first integrated blockchain platform that registers and tracks
intellectual property for the cannabis industry. Strain protection and genetic identification are major issues for growers and
breeders, and this new technology allows them to identify and secure rights to their valuable intellectual property (IP). The
BLOCKStrain platform also streamlines the administrative process of genetic and mandatory quality-control testing for legal
cannabis, cutting the administrative time and expense in half.
BLOCKStrain's proprietary, immutable, cryptographically-secure blockchain-technology establishes a global 'single source of
truth' for cannabis strains, their ownership, potency and chemical makeup. In an industry where a popular strain can be worth
millions of dollars, it is crucial to the industry's future to quantify genetics, potency and equivalencies between cannabis
products. BLOCKStrain delivers needed transparency to growers, retailers, regulators, and consumers who have struggled to find
realistic solutions to these logistical challenges. The good news is that the blockchain technology implemented by BLOCKStrain is
ideally suited to solve these kinds of problems by implementing an immutable and non-corruptible record of transactions.
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
Certain statements in this release are forward-looking statements, which reflect the expectations of management
regarding the Company's future business plans. 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 expected benefits of, and impact on, WeedMD's business as a result of the
use of BLOCKStrain's technology; and the expected security and other benefits of BLOCKStrain's technology generally. Such
statements are subject to 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; WeedMD may not derive
the expected benefits from use of the BLOCKStrain platform; legislative changes may occur that negatively impact BLOCKStrain's
business; and other factors beyond the Company's control. 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 the Company 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 the Company 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.
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