Materia Ventures Chief Executive Brings Deep Government Expertise
TORONTO, June 11, 2019 /CNW/ - TruTrace Technologies Inc. (TSXV: TTT; OTC: BKKSF) ("TruTrace" or the "Company") today announced Deepak Anand, CEO and Co-Founder of Materia Ventures, will become an advisor to the Company. Mr. Anand brings significant experience having worked closely with senior government officials, politicians, policy makers, health professional organizations, clinical practitioners, educators and investors. Mr. Anand can provide business development leadership and direction, particularly with respect to engagement with governmental bodies and regulatory agencies in jurisdictions in Canada, Europe and South America. Additionally, as Materia Ventures ("Materia") continues to build out its infrastructure and technology assets across Europe, there will be opportunities for expanding the partnership and strategic opportunities between Materia and the Company.
Mr. Anand has held several roles of importance within the global cannabis sector. Currently, Mr. Anand is the CEO of Materia, a European-focused medical cannabis distribution and supply company. Deepak also has served on the boards of the Center for Medicinal Cannabis in the UK and he is also on the board of CFAMM (Canadians for Fair Access to Medical Marijuana) and the National Association of Cannabis Professionals.
"Mr. Anand's prolific expertise liaising with government and other regulatory bodies in the cannabis industry is of great benefit to TruTrace Technologies," said TruTrace Technologies CEO Robert Galarza. "As Deepak continues to build out the footprint for Materia throughout Europe, we see increasing opportunities for collaboration and partnership. Deepak's valuable insights and established connections with a wide range of government and regulatory bodies will further enable us to develop and market our products with these critical agencies in mind."
In connection with this appointment TruTrace has agreed to grant Mr. Anand stock options to acquire up to 150,000 common shares in the capital of TruTrace under the Company's 2018 Stock Option Plan.
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.
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Disclaimer for Forward-Looking Information
This release contains "forward-looking statements", which are based upon the current internal expectations, estimates, projections, assumptions and beliefs, and views of future events, of TruTrace and its management. Forward-looking statements can be identified by the use of terms such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words. Forward-looking statements in this news release are based upon the expectations, estimates, projections, assumptions and views of future events which management of the Company believe to be reasonable in the circumstances. Forward-looking statements necessarily involve known and unknown risks, including risks associated with the failure of the parties to agree on terms of a Formal Agreement; the ability of the parties to create technologies that make the cannabis industry more transparent and viable; general economic conditions; adverse industry events; loss of markets; 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 ability of the parties to implement their respective business strategies; competition; and other risks. Such forward-looking statements are provided as of the date hereof and the Company disclaims any intent or obligation to update 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 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]