Trackloop Achieves METRC Approval in California, Giving it an Advantage in the Booming Cannabis Logistics Industry
VANCOUVER, Jan. 23, 2019 /CNW/ - Trackloop Analytics Corp. ("Trackloop" or the "Company") (Canadian Securities Exchange: TOOL), (FRANKFURT: B2IP), (OTCPK: TLOOF) is pleased to announce that it has become a verified California METRC software vendor, with its fully functional API integrated with the State mandated compliance platform. Trackloop is the first company with a cold chain tracking solution to be approved by METRC. The Company's platform enables the instant and automated recording of all transactions, quality control, deliveries and movement of products. In addition, Trackloop's solution offers native scheduling and API integration with other scheduling platforms, alongside its flagship cold chain module. No other METRC approved vendor in California has these capabilities in a single, integrated solution.
METRC is the State of California's 'track-and-trace' system used to track commercial cannabis activity and movement across the distribution chain ("seed-to-sale"). Reporting to METRC is major requirement of licensed producers and distributors in the State and is mandated by the California Department of Food & Agriculture, alongside the California Bureau of Cannabis Control and the Manufactured Cannabis Safety Branch. METRC compliance and reporting is required by every stakeholder along the supply chain including cultivators, manufacturers, retailers, distributors, testing laboratories and microbusinesses.
Trackloop is looking beyond Cannabis industry, expanding its existing business in the food and perishables industry. The Company is currently looking at building its sales channels in California and working with other end-user vendors in the vehicle retrofitting space. At the same time, Trackloop is in the process of METRC approval in multiple other jurisdictions in the US.
"We look forward to expanding our footprint in California, delivering innovative and integrated solutions to a highly regulated market. California is a leader in logistics regulation, and we are excited to be working in a progressive jurisdiction paving the way for the rest of the world," said Trackloop CTO Zayn Kalyan.
The approval comes on the heels of California's Track-and-Trace (Resolution 3702) program announced last week, which according to their website will "Record the movement of cannabis and cannabis products through the state's supply chain from cultivation to sale." Any individual seeking a cannabis license, for cultivation or retail purposes, must complete a training session for the track-and-trace system within 10 days of receiving notice that their complete application has been received and approved by the California Department of Tax and Fee Administration (CDFA).
About TrackLoop Analytics Inc.
TrackLoop Analytics (TOOL) is an analytics software company that is leveraging digital asset technology to transform and modernize multiple industries. TrackLoop is taking a diversified approach to the analytics and technology space, delivering practical solutions in the finance, logistics, cannabis, and pharmaceutical industries. The Company's turnkey real-time tracking solutions offer the very latest in IoT and AI, providing valuable data and business intelligence to some of the world's leading brands.
TrackLoop is a publicly-traded company listed on the Canadian Securities Exchange (CSE); trading symbol TOOL (C.TOOL or TOOL.CN).
Chief Technology Officer
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SOURCE Trackloop Analytics Corp
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