DENVER and VANCOUVER, British Columbia, Feb. 03, 2022 (GLOBE NEWSWIRE) -- SPOTLITE360 IOT SOLUTIONS, INC. (“SpotLite360” or the “Company”) (CSE: LITE) (OTC: SPLTF) (Frankfurt: 87A) is pleased to announce that it has entered into an agreement with Control Union (“Control Union”) in which the parties will produce, develop, market and deliver an exclusive global hemp supply chain certification. The initial certification will leverage partnerships with seed genetic companies, hemp farmers and hemp extraction/processing companies to develop a seed, to product, to consumer supply chain best practices. Control Union, a Peterson Control Union Company, will help author the standard and will audit companies against this standard to guarantee consistent product quality, chain of custody, proof of origin, environmentally sound practices, sustainable sourcing and prove of ESG (“Environmental, Social, Governance”) initiatives. The standard will leverage SpotLite360 Technologies and its unique supply chain focused tracing and tracking capabilities, leveraging RFID and IoT (“Internet of Things”) technologies to ensure real time data and visibility throughout the entire partner ecosystem.
Peterson Control Union has operations in 85+ countries. They have more than 6 thousand employees and contractors that have audited commodities of all types for over 100 years and are delighted to add plant-based hemp products to their portfolio. “In Control Union we are always finding new ways and areas to innovate, and we believe that hemp has the potential to be a key product in the near future. We are pleased to be working with SpotLite360, frontrunners in the sector, by providing our certification services,” stated Malcolm Graham, Managing Director for Control Union Canada.
Peterson Control Union boasts many of the largest corporations in the world as their customers. They have a significant history supporting and auditing commodities certifications and process standards for biofuels, sugar, palm oil, soy, and many other commodities.
See https://www.petersoncontrolunion.com/en for references.
It is important that hemp and hemp derived products be certified to the level of other mass scale commodities such as coffee, bananas, palm oil and cacao. This is what ICCert and Control Union are now set to develop together in 2022.
SpotLite360 has incorporated ICCert, Inc. as a wholly owned subsidiary to exclusively operate this new global initiative called “The C Standard”. This seed-to-sale, plant-based hemp supply chain certification will leverage SpotLite360’s technology platforms across the entire partner ecosystem of companies to ensure compliance and successfully pass the Control Union audits. James Greenwell, President and CEO SpotLite360 said “This new C standard will bring the hemp industry in line with globally recognized GAP (“Good Agricultural Practices”). Global industries can now have visibility to and proof of product origin, authenticity, quality, sustainability practices and ESG compliance of hemp-based products as they traverse the supply chain. We are already seeing products from the hemp plant as ingredients in cosmetics, consumer goods, food and beverages, construction materials, plastics, pharmaceuticals and textiles. This standard along with SpotLite360’s technology platform will ensure that consumers can trust where the products they purchase come from and that they are sustainably sourced and produced.”
On behalf of the Board of Directors of the Company,
SpotLite360 IOT Solutions, Inc.
“James Greenwell”
James Greenwell, President and CEO
For more information about SpotLite360, please visit: http://spotlite360.com
Charles Lee
Investor Relations and Media Inquiries
+1 (720) 830-6120
ir@spotlite360.com
THE CANADIAN SECURITIES EXCH (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About Control Union
From its roots in agricultural inspections, Peterson and Control Union have been operating for 100 years in the field of logistics, quality, certifications, and risk management. Their in-depth knowledge and experience cover all aspects of the supply chain in many industries including agriculture, energy, forestry, sustainability, and textiles. Rotterdam based, Peterson and Control Union have now more than 6000 employees and are present in 85+ countries.
About SpotLite360 IOT Solutions, Inc.
SpotLite360 is a logistics technologies solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain. Building upon existing applications of IoT technologies, distributed ledgers, and machine learning, SpotLite360 endeavours to set new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries. As regulators across the globe begin to impose new tracing and accountability requirements for the protection of consumers (e.g., DSCSA and FSMA from the U.S. Food and Drug Administration), the need for reliable, cost-effective, and versatile tracking technology is expected to grow considerably. SpotLite360’s flagship SaaS solution has been engineered to seamlessly track the movement of a product by integrating with systems of all major stakeholders in a supply chain ranging from the raw materials to the hands of the end consumer. With a primary objective of onboarding new clients in 2021, SpotLite360 plans to explore innovative use cases for its proprietary stack of technologies which could transform logistics workflows in some of the world’s largest industries.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts, but rather on the expectations of the Company’s management regarding the future growth of the Resulting Issuer, its results of operations, performance, business prospects, and opportunities. This news release uses words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company’s management, based on information currently available to them.
This forward-looking information includes, among other things, statements relating to: the intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; anticipated developments in operations of the Company; market position, ability to compete, and future financial or operating performance of the Company; the timing and amount of funding required to execute the business plans of the Company; capital expenditures of the Company; the effect on the Company, of any changes to existing or new legislation or policy or government regulation; the length of time required to obtain permits, certifications and approvals; the availability of labour; estimated budgets; currency fluctuations; requirements for additional capital; limitations on insurance coverage; the timing and possible outcome of regulatory and permitting matters; goals; strategies; future growth; the adequacy of financial resources; our expectations regarding revenues, expenses and anticipated cash needs.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties, and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance, or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions, and other factors, including those listed in the Company's non-offering prospectus dated May 26, 2021.
If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements, or the information contained in those statements.
All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by SpotLite360 IOT Solutions, Inc. can be found under the Company's profile on http://sedar.com.
