Denver, CO, Nov. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Helix TCS, Inc. (OTCQB: HLIX) (the “Company”), the leading provider of critical infrastructure services to the legal cannabis industry, announced it has launched the nation’s first integrated hemp tracking module. The hemp module for the BiotrackTHC Government Traceability system will allow the State of Delaware to track all hemp and CBD products imported into the system ensuring transparency and consumer safety. The system enforces a series of mandated controls, requiring testing before the hemp can be unlocked within the system and proceed to manufacturing of CBD and mixed THC-CBD products.
This development is a result of ongoing efforts by Helix TCS and the State of Delaware to remain on the forefront of technology and transparency in the emerging hemp sector. “This is a significant breakthrough for the industry and is the gold standard for managing emerging hemp markets,” said Dr. Moe Afaneh, COO of the BiotrackTHC business line. “As regulatory frameworks around hemp evolve, we are blazing a trail and continue to deliver industry-leading solutions.”
“It is our job to solve the problems and provide solutions to the challenges that face the cannabis industry,” said Helix TCS CEO and Executive Chairman Zachary L. Venegas. “This new technology is a perfect example of how we continue to innovate and focus on the needs of this rapidly growing space.”
The system is currently live, allowing cannabis operators in Delaware to maintain an auditable record of all hemp products in the supply chain, ensuring that all products sold in the state are tested for potency and purity. Any operators wishing to register to transact in Delaware can email hemp@BioTrackTHC.com.
About Helix TCS, Inc.
Helix TCS, Inc. (OTCQB: HLIX) is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. While Helix provides services to the Cannabis and Hemp Industries, the Company does not deal directly with the plant or any derivative products. Helix TCS’ products reach over 2,000 customer locations in 38 states and 6 countries and has processed over $18 billion in cannabis sales. For more information on Helix TCS and to sign up for investor updates, visit us at www.helixtcs.com.
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.