Done Deal: Helix TCS And BioTrackTHC

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.

MJ Freeway And Cannabase Announce Exclusive Integration Partnership

COLORADO: Online wholesale cannabis exchange Cannabase has formed a strategic integration partnership with seed-to-sale software giant MJ Freeway.  The partnership paves the way for a live cannabis exchange marketplace powered by MJ Freeway’s seed-to-sale – specifically price and inventory – data. Cannabis retailers and cultivators will find key challenges solved in the integration of MJ Freeway’s live data, including:

  • Streamlined buying and selling transactions to deliver real-time instantaneous execution and real settlement
  • Improved product and price transparency
  • Increased opportunities and prospects for sourcing and selling

Today, user-generated listings limit the thoroughness, accuracy, and traceability of listings in wholesale cannabis markets. However, with this partnership, MJ Freeway will exclusively provide Cannabase real-time confirmation of live inventory data to support the execution of exchange transactions for their joint customers. Cannabase’s feature-rich, proprietary platform will utilize this data in a live exchange format that will continue leading the evolution of the cannabis wholesale market.

“This partnership will greatly enhance the capabilities of MJ Freeway and Cannabase users nationwide,” explains Jennifer Beck, Cannabase’s co-founder and Managing Director. “Our mission is to provide the most cutting edge, compliant technology solutions in the market, and look forward to partnering with MJ Freeway in this next iteration of the wholesale marketplace.”

With MJ Freeway’s market representation over 40% in 23 states nationwide, this partnership is poised to vastly accelerate the flow of wholesale product for cultivators, infused product manufacturers, and retailers nationwide.

Amy Poinsett, the Co-founder and CEO of MJ Freeway stated, “Our goal is to improve the performance and profitability of cannabis businesses. MJ Freeway’s integration with Cannabase will bring solutions that automate the cannabis wholesale exchange improving the speed and transparency of transactions today and creating a national network of buyers and sellers that can be quickly and compliantly united when the federal landscape changes.”

Zachary L. Venegas, CEO of Helix TCS, the parent company of Cannabase, echoed Poinsett’s comments, stating that “As we further unveil the technologies, partnerships, and business lines that we have built, we will continue to provide our clients, partners, and investors with the real benefits that accrue from our focus on strategic innovation realized by rapid, disciplined execution.”