TruTrace Technologies Joins the APAC Provenance Alliance to Expand Use of Blockchain Technology to Protect and Authenticate Products

Rhea-AI Summary

TruTrace Technologies (CSE: TTT; OTCQB: TTTSF) has joined APAC Provenance, an alliance focusing on enhancing provenance, traceability, and authenticity in global supply chains. This partnership combines technology and research with industry standards to address increasing demand for transparency in exports. TruTrace aims to provide integrated blockchain solutions to ensure product integrity and enhance customer engagement. The collaboration includes industry leaders like Fresh Supply Co and VeChain, emphasizing the importance of a cooperative approach in overcoming supply chain challenges.

Positive

• Joining APAC Provenance enhances TruTrace's industry collaborations.
• Partnership focuses on addressing global supply chain challenges.
• Aims to increase product transparency and customer engagement.

Negative

• None.

North American company joins a consortium of technology and service providers within the global food supply chain industry

TORONTO--(BUSINESS WIRE)-- TruTrace Technologies (CSE: TTT; OTCQB: TTTSF), developer of a fully-integrated blockchain platform for the legal cannabis, food, and pharmaceutical industries, is proud to announce that it has recently joined APAC (Asia Pacific) Provenance, which is an industry alliance that helps exporters digitally enable and scientifically prove the provenance, traceability and authenticity of their products.

APAC Provenance combines technology and research with established industry solutions, suppliers, and standards, to deliver practical solutions that strengthen the integrity of export supply chains. Members include industry leaders such as Fresh Supply Co, Source Certain International, Matthews Australasia, Opal Packaging, Escavox and Laava; as well as blockchain leader VeChain and many specialized marketing and packaging service providers.

“Over the past several years we have seen a change in the way that we engage with products and how interconnected we are throughout the world,” stated Robert Galarza, CEO of TruTrace. “To tackle the challenges of the complex global supply chain we must take a collaborative and cooperative approach and we are honoured to join such a remarkable group of companies and are excited to bring our value to the overall mission of APAC Provenance.”

As supply chains continue to be stressed throughout the world, particularly within international exports, there has been a push for collaboration and innovation to mitigate these challenges. The alliance aims to directly meet these needs, as well as the ever-changing habits of customers who are demanding greater access to healthy, nutritious, and high-quality food and beverages. By combining the resources of all members, the alliance aims to bring together best in class technologies and services to support a blockchain-enabled and consumer verifiable supply chain. With transparency and provenance being a cornerstone of the alliance, there is significant value to high quality producers and manufacturers who want to engage directly with customers and share a genuine and engaging story about their products.

APAC Provenance Co-Founder and Laava ID Joint-CEO Gavin Ger said, “On behalf of APAC Provenance, I’m thrilled to see TruTrace join the alliance. Our fellow members and customers in the region are always striving to improve their track and trace and supply chain automation capabilities. TruTrace delivers these capabilities, as well as an incredible depth of capability in product assurance and lab/test report management, plus traceability of strains and cultivars – to create a truly end-to-end solution for APAC Provenance clients. We look forward to exploring joint opportunities together for the benefit of industry and consumers.”

About TruTrace Technologies
TruTrace Technologies is the developer of fully integrated software, secured on a blockchain infrastructure, that gives clients’ the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation. For more information, please visit www.trutrace.co.

About APAC Provenance
Asia Pacific Provenance is an industry alliance which helps exporters digitally enable and scientifically prove the provenance, traceability and authenticity of their products, and tell the stories behind their brands. By combining the best capabilities of a range of key technologies, products and services, APAC Provenance offers exporters an integrated, yet modular suite of technology capabilities across the traceability, provenance, brand protection, marketing and packaging ecosystem.

Follow TruTrace:

LinkedIn: https://www.linkedin.com/company/trutracetech
Twitter: https://twitter.com/trutracetech
Instagram: https://www.instagram.com/trutracetechnologies

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon TruTrace current internal expectations, estimates, projections, assumptions and beliefs and views of future events. 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, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.

The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future capacity for growth and the completion of any capital project or expansions. 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; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the Asia-Pacific market generally; the global food industry generally; the ability of TruTrace to implement its business strategies; the COVID-19 pandemic; competition; and other risks.

Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, TruTrace does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for TruTrace to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in TruTrace’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211108005273/en/

Media Contacts:



Corey Herscu for TruTrace Technologies

corey@verbfactory.com

+1 416-300-3030 (North America)



Gavin Ger for APAC Provenance

gavin@laava.id

+61 (0)402-023-703 (ANZ)

LinkedIn: https://www.linkedin.com/company/apacprovenance

Source: TruTrace Technologies

FAQ

What is the significance of TruTrace joining APAC Provenance?

TruTrace's membership in APAC Provenance enhances its ability to provide blockchain solutions for traceability and product authenticity in global supply chains, aligning with increasing market demands.

How does the alliance with APAC Provenance benefit TruTrace Technologies?

The alliance allows TruTrace to leverage shared technology and market leadership to strengthen supply chain integrity and enhance product transparency.

What are TruTrace's stock symbols?

TruTrace Technologies is listed as CSE: TTT and OTCQB: TTTSF.

Who are the key members of the APAC Provenance alliance?

Key members include industry leaders like Fresh Supply Co, Source Certain International, and VeChain, among others.