Executive hire brings deep industry insight and expertise
VANCOUVER, March 21, 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, today announced it has appointed Dr. James LaValle as it Chief Medical Manager. In this new role, Dr. LaValle will provide leadership and direction with respect to scientific and medical aspects of the core software of the company, as well as areas of additional product and business development.
Dr. James LaValle has more than 40 years of experience in the natural products industry as a clinician, industry consultant and educator. He has dedicated his professional career to becoming a voice for the emerging value of the natural product industry, with particular emphasis on the need for quality standards and transparency of ingredients in order to ensure consumer safety and efficacy.
"While Cannabidiol from hemp and cannabis products are taking the consumer and medical markets by storm, to date, this market segment has been fraught with quality and contamination issues that have tarnished the enormous value that these compounds can provide consumers. The BLOCKStrain technology represents a necessary evolution in ensuring product quality by tracking and reporting CBD and Cannabis ingredients starting from the soil all the way to the products on the store shelf", stated Dr. LaValle. "The CBD/Cannabis industry must deliver quality finished goods to a level that inspires consumer confidence and provides them with safe products. Verification of the level and type of active ingredients as well as absence of impurities should be simple, but the industry is riddled with inconsistent and in some cases dangerous final products. I firmly believe BLOCKStrain has the potential to become a new standard for testing and reporting purity and content safety of not just cannabis, but other natural products as well."
"Dr. LaValle's immense expertise in the nutraceutical industry, and his dedication to ensuring high quality product standards is directly in line with BLOCKStrain's mission of bringing transparency and integrity to the cannabis industry. With our technology, licensed producers, craft growers, other industry participants and most importantly patients and customers, can take affirmative action to ensure their products are as advertised." said Robert Galarza, CEO of BLOCKStrain. "Dr. LaValle's valued insight and well-established brand presence in the nutraceutical industry is unquestioned, and we are excited to have him as a key part of our growth strategy in cannabis and beyond."
Dr. LaValle is the recipient of many prestigious awards. He was one of nine Americans chosen for the Inaugural Dietary Supplement Information Bureau Board, and was also awarded the Clinician of the Year Award from the Natural Products Association. He has authored 4 databases on natural products and teaches application of natural compounds in clinical practice to health care professionals around the world. In addition, he has 35 years of clinical practice in integrative medicine.
In connection with this appointment BLOCKStrain has agreed to grant Dr. LaValle stock options to acquire up to 250,000 common shares in the capital of BLOCKStrain, subject to the terms of a stock option agreement to be entered into by the parties.
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.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking statements in this news release include statements regarding: the Chief Medical Manager's anticipated role with BLOCKStrain and that his expertise will benefit BLOCKStrain; the statement with respect to the emerging value of the natural products industry, including compounds containing cannabidiol from hemp and cannabis; that BLOCKStrain technology has the potential to become a new standard for testing and reporting purity and content safety for cannabis and other natural products; and statements regarding the business of the Company. Forward-looking information necessarily involves known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; changes to the growth and size of the natural product industry; consumer acceptance and adoption of natural products, including compounds containing cannabidiol from hemp and cannabis as compared to other products; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of BLOCKStrain to implement its business strategies; competition; and other risks. 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.
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SOURCE BLOCKStrain Technology Corp.
For further information: BLOCKStrain Technology Corp. Robert Galarza, Chief Executive Officer and Director; Investor Inquiries: Crystal Quast Bullseye Corporate, 1-844-656-3629, [email protected]; Media Inquiries: Corey Herscu, 416-410-0404, [email protected]