Initiative to set the standards for cannabis laboratory testing
VANCOUVER, British Columbia, April 25, 2019 /PRNewswire/ -- Trackloop Analytics Corp. ("Trackloop" or the "Company") (Canadian Securities Exchange: TOOL) (FRANKFURT: B2IP) (OTCQB: TLOOF), in collaboration with Sigma Analytical Services Inc, is pleased to announce an LOI to jointly develop and demonstrate the first fully integrated hardware/software track & trace platform for Cannabis bioanalytical chemistry testing. This collaborative initiative is the first pilot-scale effort in Canada for testing Trackloop's traceability module in a lab environment for the Cannabis industry. The project builds on Trackloop's existing platform which supports full functionalities for tracking and traceability of goods and enterprises along the supply-chain, from seed to sale. The platform is rapidly becoming a reliable source for end-to-end monitoring of urban delivery operations for temperature sensitive products, including Cannabis. Built on Trackloop's recent integration with METRC and their extended network of Cannabis processors and distributors in California, this joint development will generate customized traceability and documentation modules for the Cannabis industry. This initiative will set the requirements for tracking and traceability for other Cannabis testing labs to follow.
The Cannabis industry is currently demanding a system to address the complexities of testing for cannabinoid & terpene potency, which includes trace microbial & chemical contaminants, such as pesticides, heavy metals and residual solvents. This system will assist in establishing standards maintaining traceability and staying ahead of increasing regulatory requirements. Traceability of inventory for mandatory testing limits, quality assurance & control, is the critical challenge involved in bringing products through the testing and reporting cycle to compliance under the Canadian Cannabis Act.
"Quality testing is an important step in the process for both producers and consumers of cannabis. Sigma are leaders in cannabis science and we are excited to be working with them to develop what will be, the standard for the transparent tracking of cannabis throughout the testing process," said Trackloop CTO, Zayn Kalyan.
Sigma has several existing strategic partnerships with major analytical instrument providers and testing labs in California and Oregon, USA. Sigma is also expanding internationally and is about to start more cannabis labs in other countries When completed, this project has extensive channels to roll out from the pilot-scale to full adaptation by major players in the Cannabis as well as a wider analytical testing industry.
About Sigma Analytical Services Inc.
Sigma Analytical Services Inc. was founded in 2017 in Canada as a complete cannabis and hemp compliance lab to offer comprehensive testing and analytical services, as well as research and product development consulting in cannabis and hemp science. Sigma has emerged as a thought leader in advancing the understanding of cannabis chemistry and is establishing a global scientific network of pioneers to facilitate research and knowledge sharing in this new and promising field of science. Sigma Analytical Services is growing and expanding internationally and is exploring new global opportunities.
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.