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Challenges in Solution/Application Adaptability in a high demand, and extremely changing regulatory compliant industry – Legal Cannabis

 

As CIO of TheraCann International, I am acutely aware of the challenges of developing a world class, secure, web based ERP software system.  In our high compliance cannabis sector, being capable of accepting change as individuals and forever adapting to a new software requirements is the rule not the exception.  Current tech trends, cloud software (SaaS), cloud infra (IaaS), virtualized environments, IT and Information Security, compliance to regulation are just a few of the challenges CIO’s and their IT Teams face on daily basis.

SDLC towards a full functional release are measured in weeks not month or years as this sector’s regulatory requirements and advancement of automation and integration travel at the speed of light.  Each day requires a change in work processes, changes in the team or office staff, training requirements or software access levels, adapting to new interpretations of legal or regulatory compliance in terms of record keeping, traceability, scope of KYM and AML documentation, implementation of new methods or technology, or in some cases requests to redesign the whole thing. In the end, it all boils down to our ability to adapt quickly to an ever-changing cannabis sector software requirements list.

This ever-changing needs and requirements list demands a completely new type of software approach.    Long gone are the days of managing new requirements by relying on a robust and talented development team to conduct weekly sprints to customize the existing software functionality.  Gone are the days of trying to second-guess the market’s future requirements by adding multiple modules to turn on / turn off as required.  Today’s challenge for robust cannabis software solutions is to develop a software that is at its core fully configurable and easily able to permit the user to adapt to its current requirements.  Enabling the Client User to design their own original cannabis process workflows, their own reports, and their own cannabis tracking modules is the only way to ensure every gram and every penny is accounted for today and tomorrow without question of data manipulation.  To achieve this, competent CIO’s together with talented Development Team’s needs to design the software solution with the appropriate architecture to give the Client user the necessary tools for that propose.

Needless to say, the proposed solution must then be properly tested to ensure this highly dynamic solution will satisfy these new requirements.

To further explain the critical nature of this requirement, consider this, the entire supply chain for industrial high quality legal cannabis has accomplished in less than 6 years what the industrial automotive sector has accomplished in 100 years. In an industry where legal requirements are still in the making and that is moving as fast as it can go to reach consumer markets, both regulators and service provider have the challenge to deliver high standard requirements and adaptable solutions.

As the regulations continue to tune and adjust, delivering consistency, traceability, security in the handling and tracking of all records, seed to sale was the tip of the iceberg.  This has forced large scale facility operations to integrate multiple data input sources, in-congruent data points while meeting and  or exceeding HIPPA, ISO 17025, ISO 31000, ISO2100 and ISO27001 compliance.  All the while having to consolidate this DataMart into a secure storage architecture that permitted the ability to provide dynamic analytics across yet to be determined referenced data.

However, without having such tools, organizations will invariably struggle and leave this responsibility to external vendors to provide that simply cannot code fast enough to meet their requirements.  In an industry, that produces a perishable product that requires a court defensible label before the product can be sold, long software development cycles are not advantageous and that is assuming that the vendor can take the time to understand the requirement and communicate the business use case properly.

Therefore, designing a Cannabis Supply Chain Software System, as TheraCann International has done, ensures that the Client user has the right set of tools that will allow flexibility without major intervention from an external team and in so doing can provide the Client user with a distinct competitive advantage.

Once you have the correct Cannabis ERP tools then create the knowledge in-house to further streamline your use of the application when changes are required. As the CIO of one of the World’s first cannabis ERP seed through sales and compliance (ERP-C) software  I am a firm believer that IT Drives value by thriving business through Technology Solutions, with clear understanding of the business and sound knowledge of solutions capabilities.

My team and I would be happy to work with you and your team to crystallize your vision and using TheraCannSYSTEM software realize that vision for today and through tomorrow!

 

By Oswaldo Bello – CIO – Chief Information Officer for TheraCann International.

For more information on TheraCannSYSTEM and its functionalities please contact Oswaldo Bello, CIO – Chief Information Office for TheraCann International, or reach out to our OS2 Customer Support team.

Changes to ACMPR Requirements

With the Canadian cannabis market traveling at the speed of light, there is to be expected a wide sweeping change related to both Federal and Provincial legislation governing the regulation of production, processing, distribution, analysis as well as how hemp will also be included / managed under these new regulations.

To keep you posted and up to date TheraCann International has provided a quick summary as to what to expect in October 2018.  This summary highlights how these changes may impact existing applications that currently in review and future applications. See: TheraCann Summary of Health Canada Proposed Changes_July19_2018(1)

To learn more about the current status of cannabis law in Canada, the Task Force on cannabis regulations and how cannabis will be regulated in the provinces and territories of Canada please Click Here.

For more information on Canadian regulations please contact Mimi Busk-Downey, Director of Regulatory Compliance for TheraCann International.

TheraCann Launches ETCH BIOTRACE™ Technology

Panama Pacifico, Panama, July 31st, 2018 – TheraCann International Benchmark Corporation (“TheraCann”), a leading full service international cannabis business and “seed to sale” technology firm in conjunction with Applied DNA Sciences, Inc., (NASDAQ: APDN), the leader in molecular technologies for supply chain transparency, announced the successful launch of their breakthrough ETCH biotrace™ technology. The  molecular “tag and trace” system will be included with TheraCann’s BenchmarkSOLUTION of licensing, project management, security, cultivation, and analysis services.

TheraCann’s ETCH biotrace™ platform is poised to further refine and transform the cannabis regulatory environment by adding capabilities that allow for the forensic tracking of cannabis and cannabis derivatives across the supply chain. Whether it is introduced at the cultivator, processor or manufacturer level, ETCH biotrace links a unique molecular tag to the cannabis plant that will survive conversion or extraction. Using a simple hand-held device, molecular testing can be performed at any point in the supply chain to verify compliance. The technology also has the potential to drive a sea change in the way brands catalog, manage and track their intellectual property.

The rapid global adoption of cannabis legislation has accelerated the need to secure and truly validate cannabis supply chains from seed-to- sale. Current systems, many of which rely on RFID or bar code technologies, are capable of accurately tacking cannabis supply chains through the cultivation stage but cannot forensically track cannabis and/or cannabis derivative products back to a specific source once the physical tags and packaging are removed.

“TheraCann is excited to fully introduce this  breakthrough molecular tag and trace technology. Global regulatory bodies and cannabis brands have been limited by their reliance on traditional RFID  and stickering systems,” said Jason Warnock, Chief Executive Officer of TheraCann International Benchmark Corporation. “The combination of TheraCann’s integration software and EPCIS Standardized blockchain systems through Multichain Ventures (dba the Tokes Platform), with Applied DNA Science’s proven CertainT® platform creates a safe and secure way to manage the legal supply chain.”

“The molecular tags used in the ETCH biotrace system are considered GRAS (Generally Recognized as Safe), they are non GMO,” said Dr. James Hayward, President and CEO of Applied DNA Sciences. “The typical daily diet includes about 100 parts DNA per million parts of food. Orally ingested DNA is hydrolyzed by the pH in the stomach. Our molecular tags are very small; too small to function as genes. Typical tagging levels of use are in parts per billion, levels too small to have any impact on form or function, or the biological properties of cannabis.”

The ETCH biotrace patented technology provides true traceability including the ability to track products from cultivation, extraction and derivative processing into edibles or other forms that will provide a clear method to eliminate black and grey market products from entering the regulated marketplace worldwide.

TheraCann’s ETCH biotrace technology is currently in beta testing with multiple cultivators but will be available to clients, regulatory bodies and cannabis brands in legal municipalities throughout the world.

More information about ETCH biotrace is available at www.etchbiotrace.com

About TheraCann International Benchmark Corporation
Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. Integrating nearly 3.5 million square feet of cannabis operations  and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements.

 

More information about TheraCann is available at www.theracanncorp.com. Follow us on Twitter or Linkedin

 

About Applied DNA Sciences

Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics.

Applied DNA makes life real and safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. The proprietary DNA-molecular based “CertainT®” platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products. SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopyable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, BackTrac™ and DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track-and-trace. All provide a forensic chain of evidence and can be used to prosecute perpetrators. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.

Visit adnas.com for more information. Follow us on Twitter and LinkedIn.

Integrated Compliance Solutions Partners With TheraCann International and TKS Ventures

SAN DIEGO, April 13, 2018 (GLOBE NEWSWIRE) —

Integrated Compliance Solutions, LLC. (ICS) is pleased to announce that it has completed a Strategic Partnership with TheraCann International Benchmark Corporation. (“TheraCann”), a leading full service international cannabis business and “Seed to Sale” technology firm and TKS Ventures (dba Tokes Platform) a provider of point of sale and inventory tracking services and solutions for the multi-billion-dollar retail cannabis industry.

ICS (ICSLV.com), a leader in the Cannabis Banking solutions space, has continuously strived to integrate with Leaders in the S2S (Seed to Sale) space. TheraCann and TKS Ventures have brought to market a full-service enterprise software ecosystem for inventory control, POS, financial services management, genetic traceability and other ancillary services that truly redefine the traditional S2S framework. This new partnership allows ICS and TheraCann to expand service offerings that redefine compliance support by increasing their client’s operational efficiencies, thereby increasing their profit margins.

Said TheraCann COO, Chris Bolton: “With the real risk of black and grey market product entering the legal supply chain, the ability to provide best in class anti-money laundering (AMT) and know your customer (KYC) protocols is a primary concern for TheraCann. This strategic partnership with ICS will allow TheraCann and TKS Ventures to build compliant products and solutions for our clients, helping them to mitigate risk and preventing them from being overwhelmed by strict regulatory requirements.”

Said TKS Ventures CEO, Michael Wagner: “By incorporating the sophisticated compliance, reporting, and banking feature set of ICS into the ecosystem developed by TheraCann and Tokes, we’re able to provide one of the most robust solutions for tracking and traceability. In an industry that requires the highest levels of transparency and accountability, it is imperative that we deliver a complete system capable of storing and distributing incorruptible data to those in a position of oversight, and this partnership with ICS is instrumental in accomplishing that objective.”

Said ICS CEO, Christopher Johnson: “In this highly regulated industry, we at Integrated Compliance Solutions are constantly on the lookout for key partnerships in the S2S space. TheraCann and TKS Venture’s unique framework and services offering is truly a game changer in the market today. Easy to use workflows partnered with strong technology enables this unique product.”

About Integrated Compliance Solutions

ICS is the industry leader in compliance software and innovative, cost effective merchant payment solutions. Their experience in financial services and payments technology allows them to apply the heightened federal requirements to preferred providers that meet strict requirements. The result: a competitive, complete, and stable set of services that complement the merchant’s goals. As a Seed to Bank compliance partner, ICS has simply been used by more banks, for longer, and more CRB businesses than any one of their competitors in the space. Their services are proven and well respected in the industry.

About TheraCann International Benchmark Corporation

Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology to help clients design, build and run their cannabis businesses. With nearly 3.5 million square feet of cannabis operations under management and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. More information about TheraCann is available at www.theracanncorp.com.

About TKS Ventures (dba Tokes Platform)

The TKS Ventures is a digital currency and software development company focused on the legal cannabis industry. TKS’s core initiatives include a blockchain-based e-payment solutions, industry agnostic point-of-sale software, as well as compliance and provenance management through a dedicated ERP seed-to-sale application. The ERP enables external developer integration through a modular design and improves regulatory compliance through transparency of payments and supply chain management.  More details about the company available at www.tokesplatform.org

Global Cannabis Applications Corp (GCAC) signs MOU with TheraCann/TKS Ventures Joint Venture

Vancouver, British Columbia, Canada, April 9, 2018 – Global Cannabis Applications Corp. (“GCAC” or the “Company”) (CSE:APP, FSE:2FA, OTCQB:FUAPF), a leading developer of innovative data technologies for the cannabis industry, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with One System One Solution (“OS2”) a joint venture of TheraCann International Benchmark Corporation (“TheraCann”) and TKS Ventures dba The Tokes Platform (“TKS”),  to establish the infrastructure, technology and services required to create a sustainable supply chain and ecosystem for the cannabis industry. The parties will combine resources to provide software and services comprising a total solution for cultivators, distributors, medical patients & practitioners and regulators.

 

OS2 is building the world’s first fully integrated genetics-to-patient (fully seed-to-sale) Enterprise Relational Software Program (“ERP”), market place, commodity exchange & financial transaction compliance suite fully integrated with a blockchain. The ERP, previously known as the TheraCannSYSTEM, has been deployed as a Web based solution to support vertically integrated industrial cannabis cultivation, processing, packaging, quality assurance, and secure facilities around the world for over 5 years. Current client engagements include locations in Europe, North and South America and Australia. TKS Ventures owns and operates the Tokes Platform, a crypto-asset built on the WAVES blockchain that serves as a means for cannabis businesses to conduct commercial transactions.

 

OS2 will contribute the ERP (ISO 17025, 2005) and Safe Quality Food compliant Web based software. TKS will contribute expertise and talent related to cryptocurrency economic modeling, and access to the TKS Payment Gateway. TheraCann International will also contribute access and utilization of its patented Bio-Tagging tracking technology. GCAC will contribute its strain specific user and patient feedback, registry database, mobile applications, digital reward system for collecting user and clinical data and artificial intelligence algorithms.

 

“TheraCann has been providing our ERP solution to Cannabis cultivators around the world for 5 years, helping them improve return on investment, streamline cultivation and processing, improve quality and comply with local regulations, we partnered with TKS to add a cryptocurrency payment solution and full blockchain integration and are now developing a biometric  tracking technology,” said Richard Goodman, President of OS2. “This MOU with GCAC adds the critical expertise and technology in collecting and using clinical and patient data with a cryptocurrency reward system.”

 

“Working with OS2 will accelerate the development of the Citizen Green Community. Together we will establish competitive advantages that position us to be the leader in providing a total solution to the growing global cannabis industry,” said Brad Moore, CEO of GCAC. “The MOU combined with our recently closed financing and addition of partners in the cryptocurrency space, provides GCAC with critical resources to implement our plans.”

 

About TheraCann International Benchmark Corporation

Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. With nearly 3.5 million square feet of cannabis operations under management by 2019 and the successful launch of ground-breaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. More information about TheraCann is available at www.theracanncorp.com.

 

About Tokes Platform

The Tokes Platform is a digital currency and software development company focused on the legal cannabis industry. Tokes’ core initiatives include a blockchain-based e-payment solutions, industry agnostic point-of-sale software, as well as compliance and provenance management through a dedicated ERP seed-to-sale application. The ERP enables external developer integration through a modular design and improves regulatory compliance through transparency of payments and supply chain management. More details about the company available at www.tokesplatform.org

 

About Global Cannabis Applications Corp.

Global Cannabis Applications Corp. is a global leader in designing, developing, marketing and acquiring innovative data technologies for the cannabis industry. The Citizen Green platform is the world’s first end-to-end – from patient to regulator – medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, regtech, smart databases, blockchain and digital reward tokens, to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Managed by digital and cannabis industry experts, GCAC is focused on viral global expansion by providing the best digital experience in the cannabis market.
For more information about the Company, please visit online at www.cannappscorp.com, or review its profiles www.sedar.com and on the Canadian Securities Exchange’s website (www.thecse.com).

 

TheraCann International announces patent license agreement covering cannabis tracking and traceability

Panama City, Panama – February 15th, 2018 – TheraCann International Benchmark Corporation, a leading full service international cannabis business and technology firm (“TheraCann”) is pleased to announce they have obtained exclusive license to the patent covering the company’s cannabis tracking and product diversion pipeline. Included as part of TheraCann’s new tracking division, the patent includes claims covering the attachment, detection and traceability of cannabis and includes an ongoing collaboration agreement with Dr. Dan Weinthal, Ph.D. in Plant science from Tel Aviv University in association with the ARO Volcani center, Israel.

“This is an exciting time for this industry,” Dr. Weinthal says “the ability to partner with a leading technology firm like TheraCann allows this science to innovate faster to deliver new products and solutions to protect legal cannabis markets worldwide.”

The global legal cannabis economy is expected to reach $140 Billion within 10 years with many Countries expanding medical and recreational usage restrictions in 2018. Australia, Canada, the United States, Columbia and Uruguay have already seen dramatic growth in their cannabis sectors, however the prospect of illegal products entering the legal supply chain remains a serious concern in each case. A new report by Arcview Market Research asserts that even though legal North American cannabis sales rose to $6.9 Billion in 2016, 87% of all cannabis sales still come from black or grey market sources.

Chris Bolton, Chief Operating Officer of TheraCann International, says “The future of the cannabis marketplace is in transforming the black-market system to legal and regulated sources. True traceability including the ability to track products from cultivation, extraction and derivative processing in to edibles or other forms, will provide a clear method to eliminate black market products from entering the regulated marketplace.”

This latest patent agreement fits with TheraCann’s recent joint venture announcement with TKS Ventures (dba Tokes Platform) and multi-year agreement with Applied DNA Sciences Inc (NASDAQ: APDN) to provide an immutable link between the authenticity of goods and the authenticity of digital transactions to create a unique and forensic identifier throughout the cannabis supply chain.

“Beyond the obvious cost savings in enforcement and diversion control,” says Bolton, “The consumer should be protected from harmful or even dangerous products entering the market, the retailer should be protected in the event of recall or product deficiencies, and the government or regulatory body should have the confidence to know, with certainty, that a product produced from a licensed facility is the same product that is ultimately sold to consumers.”

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About TheraCann International Benchmark Corporation
Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. With nearly 3.5 million square feet of cannabis operations under management and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. More information about TheraCann is available at www.theracanncorp.com.

Press Contacts:
Jason Warnock
Managing Director, TheraCann Capital, TheraCann International
Email: jwarnock@theracanncorp.com

DEVELOPING THE BLUEPRINT FOR THE DIGITAL CANNABIS ECONOMY

TheraCann International and Tokes Platform to provide blockchain based “provenance” features into seed-to-sale ERP and Merchant Gateway

Calgary, Alberta Canada – February 8th, 2018 – TheraCann International Benchmark Corporation, a leading full service international cannabis business and technology firm (“TheraCann”) and Tokes Platform (“Tokes”), a leader in providing blockchain solutions for the cannabis industry, released this week they have begun the full-scale development of adding blockchain based “provenance” features into the FinCEN compliant cannabis seed-to-sale Enterprise Resource Platform (ERP), TheraCannSYSTEM™. This ERP blockchain development includes integration of cryptocurrency payment features via the Tokes Platform merchant gateway and integration with TheraCann’s molecular tagging system to create an immutable link between the authenticity of goods and the authenticity of digital transactions throughout the supply chain.

“This is groundbreaking,” Gabriel Allred, co-founder of Tokes Platform, says “For the first time a cryptocurrency blockchain has been integrated within a piece of functional resource management software. Being integrated up the verticals and across businesses will revolutionize how cannabis businesses transact.”
The global cannabis economy is expected to reach $140 Billion in the next 10 years with new legal medicinal and recreational legislation introduced seemingly each month. Combining blockchain, manufacturing control and molecular traceability within an existing seed to sale system provides provincial, state and international lawmakers a new blueprint to build and develop comprehensive guidelines, now and in the future.

Chris Bolton, Chief Operating Officer of TheraCann International, says “The ability to provide a platform for cannabis producers, processors, distributors, retailers, laboratories, government, law enforcement and all ancillary verticals along the supply chain with both batch and forensic origination control, all the while ensuring the veracity within a distributed ledger, was basically science fiction only a few years ago. Our partnership with the Tokes Platform allows TheraCann to develop these solutions for the global cannabis market today.”

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About TheraCann International Benchmark Corporation
Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. With nearly 3.5 million square feet of cannabis operations under management and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. More information about TheraCann is available at www.theracanncorp.com.

About Tokes Platform
The Tokes Platform is a digital currency and software development company focused on the legal cannabis industry. Tokes’ core initiatives include a blockchain-based e-payment solutions, industry agnostic point-of-sale software, as well as compliance and provenance management through a dedicated ERP seed-to-sale application. The ERP enables external developer integration through a modular design and improves regulatory compliance through transparency of payments and supply chain management. More details about the company available at www.tokesplatform.org

TheraCann International and Applied DNA Sciences Complete Cannabis Tracking Trial

STONY BROOK, N.Y.–(BUSINESS WIRE)–Applied DNA Sciences, Inc. (NASDAQ: APDN, “Applied DNA,” “the Company”) announced today that in conjunction with TheraCann International Benchmark Corporation, it has had early success in the tagging and authentication of legal cannabis and its derivatives in a laboratory pilot. The pilot demonstrated that after a single application of Applied DNA’s molecular taggants to cannabis plants during their growth stage, the taggants are detectable in processed trimmed cannabis, extracted cannabis oils and derivative products later produced from the tagged cannabis plants.

“These early pilot results provide us confidence that our combined expertise will produce a seed-to-sale solution that will provide an unparalleled level of transparency for growers, processors and dispensaries,” said Richard Goodman, President of TheraCann’s Tracking Technology Division. “Our solution will enable all members of the cannabis supply chain to conduct their own testing and prove, with scientific certainty, that their products are originating from their facilities or other legal sources.”

“The ability for our molecular taggants to be detected throughout all points in the legal cannabis supply chain, and for the tagged product(s) to be forensically analyzed, is an important strategic advantage for our platform,” said Gordon Hope, Director of Cannabis Markets at Applied DNA. “We are encouraged by these initial pilot study results, as we expect that our taggants will serve as a unique forensic identifier that becomes part of a blockchain transaction throughout the legal cannabis supply chain.”

In January 2018, Applied DNA and TheraCann announced an initial two-year, $1 million contract for the integration of the Applied DNA’s SigNature® molecular tagging and testing technology into TheraCann’s blockchain-based, seed-to-sale Enterprise Resource Platform (ERP) for legal cannabis operations. Applied DNA will develop the technologies necessary to tag and authenticate legal cannabis throughout the supply chain and seamlessly integrate tagging and authentication data into TheraCann’s ERP and blockchain platform.

This new platform is expected to be the first system of its kind to include molecular track-and-trace built on a powerful blockchain backbone for the management and tracking of legal cannabis and derivative products within the industry. Whereas broader and expanded testing is still to be performed, this is a significant milestone toward the eventual commercialization of the combined cannabis system.

About Applied DNA Sciences

Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics. The Company makes life real and safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.

The proprietary DNA-based CertainT® platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products. SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopyable, security and authentication solutions such as SigNature®T and fiberTyping®, targeted towards textiles and apparel, BackTrac® and DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track-and-trace. All provide a forensic chain of evidence and can be used to prosecute perpetrators. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.

Visit adnas.com for more information. Follow us on Twitter and LinkedIn. Join our mailing list.

About TheraCann International Benchmark Corporation

Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. With nearly 5 million square feet of cannabis operations under management and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements.

More information about TheraCann is available at www.theracanncorp.com. Follow TheraCann on Twitter and LinkedIn.

Forward-Looking Statements

The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe Applied DNA’s future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, shifting enforcement priorities of US federal laws relating to cannabis, market competition and various other factors detailed from time to time in Applied DNA’s SEC reports and filings, including our Annual Report on Form 10-K filed on December 28, 2017, which is available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.

Security Updates from the Health Canada for existing and potential Licenced Producers

On January 25, 2018, Health Canada updated the security requirements for Licenced Producers under the Access to Cannabis for Medical Purposes Regulations (ACMPR). This amendment to the regulations makes substantive changes to the storage area(s) for current licensed producers and applicants, including re-classification of which was previously the ‘vault’.  As per the Security Directive the vault is now generically defined to be a ‘secure rooms or areas’. There are also impacts on the requirement for cameras within controlled areas such as grow rooms.

For the “secure room” the minimum requirements are as follows:

  • The security that was previously required for the VAULT by way of intrusion system and sensors is to be maintained. This includes full and detailed video surveillance that works in all conditions, and access control for all entry/exit points that logs and records all person(s).
  • The secure room is no longer required to have ‘free and clear’ space on all sides and ceiling as per the regulations but needs to be physically built to prevent unauthorized entry through the entry/exit points and walls/ceiling/floor, as well as allow ‘good production practices’ for a clean zone.
  • The secure room must be constructed in a manner that allows for ‘good business practices’ for the cleanliness and ability to sterilize the area.
  • Either the RPIC or A/RPIC must be present when work is conducted in secure areas. Only person(s) required to be in the storage area(s) for their work are allowed.
  • The new regulations specifically removes the requirement for 24/7 visual monitoring/recording.

Although HC has reduced the requirement for security, there are additional considerations that must be reviewed at time of construction:

  • Insurance underwriters have strongly signalled that they will adopt the model used for the jewellery industry. This means the higher the value or risk area or history of the site/business, the higher the insurance premiums will be. Premium are, in part, linked to the sophistication of the security system and the ability of the business to protect itself against disruption or theft.

HC has yet to determine the “standard” physical requirements of the storage room(s), but it is clear that the materials used must prevent unauthorized entry through the doors, walls, ceiling or floor. This will require the room(s) to be constructed of a hardened material and the doors and door frames of commercial grade steel at a minimum.

Applied DNA Sciences together with TheraCann International Will Create the First Seed-to-Sale Cannabis Tracking System Combining Molecular Tagging and Blockchain Technologies

STONY BROOK N.Y. (January 25th, 2018)Applied DNA Sciences, Inc. (NASDAQ: APDN, “Applied DNA,” “the Company”) today announced the signing of an initial two-year, $1 million contract with TheraCann International Benchmark Corporation, (“TheraCann”), a leading full service cannabis consultancy with operations in the US, Canada, Australia, Europe and South America, for the integration of the Company’s SigNature® molecular tagging and testing technology into TheraCann’s blockchain-based, seed-to-sale Enterprise Resource Platform (ERP) for legal cannabis operations. Under the terms of the contract, the companies have entered into a development and marketing agreement whereby Applied DNA will develop the technologies necessary to tag and authenticate legal cannabis throughout the supply chain and seamlessly integrate tagging and authentication data into TheraCann’s ERP and Blockchain platform. Applied DNA will receive an initial payment under its contract with TheraCann in the current quarter.

 

The rapid global adoption of legal cannabis legislation has accelerated the need to secure and truly validate cannabis supply chains from seed-to-sale. Current systems, many of which rely on RFID or bar code technologies, are capable of accurately tacking cannabis supply chains through the cultivation stage, but cannot forensically track cannabis and/or cannabis derivative products back to a specific source once the physical tags and packaging are removed. This gap allows the opportunity for illegal diversion and the introduction of illegally-sourced cannabis into legal supply chains. Combining molecular tagging with digital tracking enhances existing seed to sale systems to a new level of capability and compliance with state, and international laws and guidelines.

 

In response to the known limitations of current seed-to-sale systems, the State of Colorado this month introduced a new bill (SB 18-029) that mandates the addition of physical-chemical identifiers (PCIDs), of which Applied DNA’s molecular tags comply, to all legal cannabis plants grown in the state for the purposes of tracking cannabis and cannabis derivative products back to their origin. As the industry matures, next generation platforms, such as the one under development by Applied DNA and TheraCann, will support collaboration between regulators, law enforcement and producers in shaping the future of the cannabis industry.

 

“Our molecular tag creates an immutable link between the authenticity of goods and the authenticity of digital transactions to serve as a unique and forensic identifier that becomes part of a blockchain transaction throughout the supply chain,” stated Dr. James A. Hayward, president and chief executive officer of Applied DNA. “We believe that all blockchain platforms require forensic origination to ensure the veracity of the subsequent distributed ledger. The legal global cannabis industry is a complex supply chain and, therefore, a natural fit for our proven technologies across all medical and consumer applications. We are excited to work with TheraCann to enhance traceability in the expanding legal cannabis market.”

 

According to a market report from Arcview Research, the North American legal cannabis market in 2017 was valued at $6.7 billion per year and is expected to grow to $20.1 billion per year by 2021. While cannabis remains illegal under US federal law, eight states plus Washington DC have legalized cannabis for recreational use, while twenty-nine states plus Washington DC have legalized cannabis for medical use. An additional seven states are expected to legalize cannabis in the coming year[1]. 15 countries outside the USA have permitted medical cannabis.  Canada has been operating a federal medical cannabis program since 2001 and is expected to federally legalize recreational cannabis by mid-2018[2].

 

Chris Bolton, Chief Operating Officer for TheraCann added, “The platform under development by TheraCann and Applied DNA will be uniquely suited to meet the growing demand for true forensic level seed-to-sale tracking and diversion control systems globally. As each new state or country legalizes medicinal or recreational cannabis, it creates an opportunity for the broad-scale adoption of our technologies.”

 

About Applied DNA Sciences

Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics. The Company makes life real and safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.

The proprietary DNA-based CertainT® platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products. SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopyable, security and authentication solutions such as SigNature®T and fiberTyping®, targeted towards textiles and apparel, BackTrac® and DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track-and-trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.

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About TheraCann International Benchmark Corporation

Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace including, government applications, planning, facility design, cultivation, marketing and communications. With nearly 5 million square feet of cannabis operations under management and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and integrated finCEN compliant blockchain solutions, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements.

 

More information about TheraCann is available at www.theracanncorp.com. Follow TheraCann on Twitter and Linkedin.

[1] https://www.forbes.com/sites/tomangell/2017/12/26/these-states-are-likely-to-legalize-marijuana-in-2018/2/#73b90f161b04

[2] https://globalnews.ca/news/3867467/marijuana-legalization-canada-progress/