Canada Markets open in 4 hrs 18 mins

Harvest One Cannabis Signs Validation Testing Program Agreement with BLOCKStrain Technology

All Harvest One Medicinal Products Sold Online to Begin Carrying
BLOCKStrain-Verified Seal of Authenticity 
 

VANCOUVER, Feb. 14, 2019 /CNW/ - BLOCKStrain Technology Corp. (TSX:V: DNAX) (OTC: BKKSF) ("BLOCKStrain"), creator of the first Blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, today announced that Harvest One Cannabis Inc. (TSX:V: HVT) (OTCQX:HRVOF - News) ("Harvest One"), a Canadian licensed producer of medical cannabis, will employ BLOCKStrain's proprietary genome tracking software to collect and register its cannabis plant DNA and strains.

BLOCKStrain Technology Corp. (CNW Group/BLOCKStrain Technology Corp.)

By incorporating BLOCKStrain's cannabis strain authenticity and tracking platform - the Master Genome Strain and Clone Registration Program - into its sales program, Harvest One is expected to be able to confirm its medical cannabis strains are as labelled, providing its consumers with increased transparency and confidence about its products. Upon completion of the collection and registration of its strains, an initial 30 Harvest One products will carry BLOCKStrain's Seal of Authenticity, guaranteeing their origin and providing quality assurance.

"This agreement with Harvest One is a testament to the growing traction of our proprietary genome-to-sale software, which we expect to increase as more companies recognize the inherent and significant value in protecting the genetics and IP of their various strains," said BLOCKStrain's Chief Executive Officer, Robert Galarza. "We believe our unique technology will enable Harvest One to guarantee its strains and provide consumers with unparalleled assuredness about the products they purchase. This is of particular importance for medical cannabis when patients with specific conditions are relying on products to be of consistent quality and provide consistent results."

"BLOCKStrain's technology is intended to enable us to guarantee that our strain origins and content are exactly as labelled, providing medical consumers with a level of certainty they could not expect with similar, unverified products," said Grant Froese, Chief Executive Officer of Harvest One. "This increased level of quality control is in keeping with our mission build a global house of brands, providing lifestyle and wellness health products to consumers and patients in regulated markets."

About BLOCKStrain's Master Genome Strain & Clone Registration Program:

Under its Master Genome Strain & Clone Registration Program (the "Program"), BLOCKStrain's team collects plant data and performs genomic sequencing in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. BLOCKStrain believes all information gathered from the plants, including their molecular and chemical makeup, can be tracked via the Program. Going forward, it is expected that a quick response (QR) barcode specific to each plant batch will be able to reveal, among other things, how a plant was cloned and cultivated, and its cannabinoid content. A video introducing the WeedMD and BLOCKStrain pilot project, representing the first example of commercial use of the Program, can be found here.

About BLOCKStrain:

BLOCKStrain has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. BLOCKStrain'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. BLOCKStrain'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.

About Harvest One:

Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world. Its range of lifestyle solutions is designed to enhance quality of life. Shareholders have significant exposure to the entire cannabis value chain through three wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); and  Dream Water Global (consumer), and a minority interest in Burb Cannabis (retail operations). For more information, please visit www.harvestone.com.

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 RELEASE

Disclaimer for Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon the current internal expectations, estimates, projections, assumptions and beliefs, and views of future events, of BLOCKStrain and Harvest One. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words. Forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management of BLOCKStrain and Harvest One believe to be reasonable in the circumstances and includes statements that: BLOCKStrain's technology is expected to provide consumers with increased transparency and confidence; that more companies will recognize the value of using the Program; and the expectation that Harvest One will be able to guarantee its strains are exactly as labelled and provide consumers with unparalleled assuredness about its products. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance and other statements that are not statements of fact. Forward-looking information necessarily involves known and unknown risks, including risks associated with the failure of the Program to work as expected; 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 cannabis industry in Canada generally; the ability of BLOCKStrain to implement its business strategies; competition; and other risks. Such forward-looking information is provided as of the date hereof and BLOCKStrain and Harvest One disclaim any intent or obligation to update publicly any such forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Harvest One (CNW Group/BLOCKStrain Technology Corp.)

SOURCE BLOCKStrain Technology Corp.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2019/14/c1947.html