Liberty Leaf Holdings and Blox Labs To Develop Blockchain-Based Smart Contracts Ledger For The Legalized Cannabis Industry
Vancouver, British Columbia and Toronto, Ontario – December 12, 2017 – Blox Labs Inc. (“BLOX” or the “Company”) (CSE: BLOX) (FSE: BR1B) is pleased to announce that, in partnership with Liberty Leaf Holdings Ltd. (“LIB”) (CSE: LIB) (OTC: LIBFF) (FSE: HN3P), it has commenced development of “cannaBLOX“, a Blockchain-based smart contract supply chain management platform for the legalized Cannabis industry.
The cannaBLOX Blockchain software will aim to ease and obliterate logistical bottlenecks, ensure product safety and quality of supply, minimize fraud and potential criminal activity, and assist with taxation and regulatory compliance across various levels of government within the legalized Cannabis marketplace. Phase 1 development of cannaBLOX has begun and will include, among other things, refining project scope and modelling itemization, an environmental scan of the Canadian Cannabis landscape, cannaBLOX branding, and the completion of a Blockchain Whitepaper. Instrumental to the development of cannaBLOX and the integration of a workable logistics framework will be Jeff Zanini, Director and Senior Advisor to BLOX, who has over 25 years of experience as an accomplished Senior Executive in Canada’s logistics sector, along with his BLOX team of industry and technical experts.
Liberty Leaf’s wholly-owned subsidiary, North Road Ventures, is a late-stage Access to Cannabis for Medical Purposes Regulations (ACMPR) applicant, focused on the value-added side of the medicinal and legalized cannabis market – product processing, sales and supply chain management. Specifically, North Road aims to be the interface between artisan Cannabis cultivators and licensed retailers, ensuring an efficient and seamless supply of quality dried cannabis, cannabis oils and other related products containing THC and CBD. Will Rascan, President and CEO of LIB, commented, “A vital component of not only our sales and distribution focused model at North Road, but of a nationwide recreational and medical Cannabis landscape, will be the transparent traceability and documentation of Cannabis products across the supply chain.” He continued, “As with any pharmaceutical or food grade product, consumers deserve to know that the product they are consuming is of the utmost in quality. We are very excited to be amongst the first movers in applying Blockchain technology to the Cannabis sector as I believe that seed-to-sale provenance verification will quickly become the industry norm.”
In a recent request for public feedback from the Government of British Columbia, IBM submitted a proposal suggesting the use of Blockchain technology as a means by which to track and document transactions across the Cannabis supply chain. In a November article from Bloomberg, IBM stated: “This type of transparency would bring a new level of visibility and control to the provincial regulators.”
“The use of Blockchain and decentralized application technologies is a natural fit to address the potential pain points that are presented in a complex marketplace such as recreational and medical cannabis,” noted Harald Seemann, CEO and Director of BLOX. “Our objective as a technology company is to develop commercial software solutions utilizing emerging trends in Blockchain, Smart Contracts and Decentralized Application Technologies. This partnership with Liberty Leaf on the development of cannaBLOX provides us with an exciting opportunity to be at the forefront of two burgeoning and intersecting sectors, Cannabis and Blockchain.”
About BLOX Labs
Blox Labs Inc. (CSE: BLOX) (FSE: BR1B) is a boutique technology development company that is focused on creating best-in-class software solutions that are driven by emerging trends in Blockchain, Smart Contracts and Decentralized Application Technologies. BLOX is actively targeting strategic acquisitions of high growth companies in the technology sector and is open to partnerships.
Liberty Leaf Holdings Ltd. is a Canadian-based public company whose focus is to build and support a diversified portfolio of cannabis-sector businesses, including cultivation, processing, value-added CBD/THC pet products, and supply chain management.
Liberty Leaf also owns 100% of North Road Ventures, a late-stage applicant under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), a company focused on product processing, sales and complementary distribution – the value-added spectrum of the business. Furthermore, Liberty Leaf recently announced a 60% interest stake in Just Kush, a late-stage ACMPR applicant and owns complete control over a current Medical Marijuana Access Regulations (MMAR)-licensed production facility.
Chief Executive Officer
On behalf of the Board
Will Rascan, President & CEO
Liberty Leaf Holdings Ltd.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The company disclaims any intention or obligation to revise or update such statements.