Wednesday, 17 July 2019 08:25 GMT

Trackloop Signs LOI With Sigma Analytical to Develop Tracking Platform for Cannabis Testing


Initiative to set the standards for cannabis laboratory testing

Vancouver British Columbia basedTrackloop Analytics Corp. (CSE: 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

Zayn Kalyan

Chief Technology Officer

Forward-Looking Information

Forward-Looking Information This news release contains forward-looking information based on current expectations. Statements about the Company's plans and intentions, signing contracts, potential revenues, expansion into the U.S. market, other potential transactions, product development, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for products; security threats; relationships with its customers, distributors and business partners; the ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. TrackLoop may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward looking statements.

Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, the impact of technology changes on the industry, competition, security threats, consumer sentiment towards TrackLoop's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, lack of demand for TrackLoop's products and services, increase in labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

The CSE has not reviewed, approved or disapproved the content of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information about the company please contact us at 1-778-938-3367.

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Trackloop Signs LOI With Sigma Analytical to Develop Tracking Platform for Cannabis Testing


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