WeedMD Inc (TSXV: WMD) announced this morning that it is the first licensed producer to be included in Shoppers Drug Mart medical cannabis strain verification pilot program with TruTrace Technologies. The firm began supplying Shoppers Drug Mart with medical cannabis back in February 2019.
Shoppers Drug Mart announced yesterday that it would be utilizing TruTrace’s technology at all of its 1,300 store locations as a means of verifying the genetics it is providing to its medical cannabis patients. The process will make the use of medical cannabis more akin to traditional treatment methods through an additional verification step to ensure the product is exactly what the client intends. TruTrace’s tech identifies, tracks, and verifies specific strain information as a means of standardizing data.
“We registered 40 of our proprietary cannabis strains with TruTrace last October, recognizing the importance of strain validation as cannabis products advance through the medical and pharmaceutical channels. We’re proud to be the first LP to be included in Shoppers and TruTrace’s recently announced pilot project. Patients and their medical practitioners expect traceability and origin assurance of their cannabis strains as it goes a long way to building continued trust and accountability in our industry.”Keith Merker, CEO of WeedMD
After collaborating with TruTrace who sequenced and registered WeedMD’s strain information, the firm became the first in the industry to use such data as a part of its sales program. Information down to the molecular level is able to be tracked utilizing TruTrace’s technology, enabling medical patients as well as MD’s to know exactly what is contained in the product they are using.
WeedMD closed yesterdays session at $1.51, closing flat on the day.
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