COLORADO: Helix TCS, in conjunction with its strategic capital partner, Rose Capital, completed the closing of its merger with BioTrackTHC on June 1st. Zachary L. Venegas will continue as the CEO of Helix TCS, and will assume the role of Executive Chairman for the combined company. Patrick Vo will continue as CEO of BioTrack.
“The closing of this merger is a landmark event for Helix and BioTrack from a strategic and operational perspective. As a combined company, we are unique in the industry in serving virtually every segment of the market – whether it is compliance software through BioTrack, the wholesale marketplace through Cannabase, security, transport, or cash services through Helix, or the advisory that we can provide customers due to our data infrastructure. We continue to support our clients in whatever challenges they face in becoming safer, stronger, and more profitable, whether they operate in the U.S. or internationally. At the same time, investors will see margin improvement as reporting and administrative costs are spread across a much larger revenue base and costs are rationalized.
“As a combined company with $12MM in 2017 revenue, we will continue to generate greater value for clients and shareholders. Helix’s unrelenting focus on strategy and disciplined execution will allow Biotrack to further harness the spirit that made it a market pioneer, with significant market share in government, dispensary, and grow segments of the seed to sale market, and translate that spirit into renewed technological innovation and leadership.
“This transaction represents the next step in our evolution as a market leader. It is also another milestone achieved by using our team’s deep experience in strategy, entrepreneurship, M&A, and frontier markets to build a world-class company,” stated Mr. Venegas.