VANCOUVER, May 23, 2018 /CNW/ - On behalf of BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX) (formerly Scorpion Resources Inc.) (NEX:SR.H) (the "Company"), we're pleased to announce that trading began today in shares of our company on the TSX Venture Exchange ("TSXV") under the stock symbol 'DNAX.'
This is a big day for our team, and is the culmination of many years of preparation and dedication to building a software company designed exclusively to meet the unique needs and challenges of the emerging cannabis industry. We have combined the best of enterprise and decentralized ledger technology to launch the first integrated blockchain platform that registers and tracks intellectual property for the cannabis sector.
BLOCKStrain offers a comprehensive, community-driven cannabis genetics registration and licensing archive platform dedicated to making it safe and comfortable for breeders and growers, large and small, to protect and release their cannabis varieties into the public domain. Our software is designed to provide verification and transparency in the marketplace in order to ensure a safe and legal pipeline of inventory between the producers and consumers.
Additionally, we designed our platform to streamline and automate the testing process for cannabis, a regulatory requirement that we expect will become more onerous once recreational marijuana becomes legal in the Canadian market. Our mission is to support the growth of this industry by providing tools that maximize efficiency and eliminate redundancies. By combining our platform with some of the largest testing labs in North America, we aim to cut administrative time and costs in half.
If you are a grower, cultivator or producer of legal cannabis, and you want to protect your intellectual property or have your product tested, we want to hear from you. We also want to hear from any and all technology companies that are interested in working with us to further innovate technology for the evolving needs of the growing cannabis industry.
To investors, we promise to work tirelessly on your behalf and for the long-term growth of BLOCKStrain, ensuring this is the best tech company in the sector, and one that provides you with a solid and sound long-term investment.
Stay tuned for more news. Today's announcement is the first of many great things to come.
Chief Executive Officer and Director
Chief Technology Officer
About BLOCKStrain Technology Corp.
BLOCKStrain Technology Corp. (TSX-V: DNAX.V) 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
Neither 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, the cannabis industry as a result of BLOCKStrain's technology; other statements regarding the business of BLOCKStrain; that BLOCKStrain will support the growth of the cannabis industry; that its platform will be able to cut administrative time and costs in half; and management's goals with respect to making BLOCKStrain the best technology company in the cannabis sector that provides a solid long-term investment. Such statements are based on management's current assumptions with respect to the regulatory environment for cannabis, the expected applications of its technology and other factors, and are subject to various 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; the cannabis industry may not use the BLOCKStrain platform once it is built; legislative changes may occur that negatively impact BLOCKStrain's business; BLOCKStrain's platform may not adequately protect users' intellectual property; 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.
For further information: Paula Arab at (403) 889-9128 or email@example.com