TORONTO, June 5, 2019 /CNW/ - TruTrace Technologies Inc. (TSXV: TTT; OTC: BKKSF) ("TruTrace" or the "Company"), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, is pleased to announce that it has received conditional approval to list its common shares on the Canadian Securities Exchange (the "CSE"), and anticipates to voluntarily delist its common shares from the TSX Venture Exchange (the "TSXV"). To ensure continued trading of the Company's common shares, the Company intends to seamlessly arrange for the simultaneous delisting of its common shares from the TSXV and subsequent commencement of trading on the CSE.
"This is a significant milestone for TruTrace Technologies and a reflection of our strategic growth initiatives to pursue opportunities in markets outside of Canada, including those within the United States," said TruTrace CEO Robert Galarza. "After careful consideration, management has determined that expanding our business into the cannabis and hemp-derived CBD markets of the US is in the best interest of the company. We look forward to the increased scope of opportunities this listing presents and the greater market potential for our technology and offerings."
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace'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. TruTrace'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.
Disclaimer for Forward-Looking Information
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including the statements regarding: (i) the delisting of the Company's common shares from the TSXV; (ii) the expected listing of the Company's common shares on the CSE; and (iii) the Company's future business plans following the expected listing of the Company's common shares on the CSE. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States, and elsewhere; 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 and other risks Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.
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 news release.
SOURCE TruTrace Technologies Inc
For further information: TruTrace Technologies Inc: Robert Galarza, Chief Executive Officer and Director; Media Relations: Corey Herscu, RNMKR Agency, 416-300-3030, [email protected]; Investor Inquiries: Crystal Quast, Bullseye Corporate, 1-844-656-3629, [email protected]