Helix TCS Inc (OTCMKTS:HLIX) announced Thursday it has finalized its acquisition of Amercanex, a B2B wholesale marketplace that leverages blockchain technology and can facilitate wholesale cannabis and hemp transactions between licensed businesses on a global scale.
Upon the closing of the deal, Helix said in a statement that it has already made significant progress towards integrating the technology with its leading seed-to-sale, dispensary point of sale, and government traceability technology, via subsidiary BioTrackTHC.
“We believe that our government and commercial clients will benefit from a real-time B2B wholesale exchange marketplace that integrates directly with their required government traceability system at the regulatory level, and with their seed-to-sale tracking software at the business level,” said Helix CEO Zachary Venegas.
“As legal cannabis and hemp industries take shape, the potential for an integrated platform of critical infrastructure services will be massive, and we have the perfect vehicle to deploy that platform via our dominant market share.”
Amercanex CEO Steve Janjic noted that “the Helix ecosystem is precisely the place for this platform to have maximum impact on the industry.”
Denver-based Helix said Amercanex isn’t the first B2B wholesale marketplace it has acquired.
In 2016, the company also acquired Cannabase, the largest and oldest B2B wholesale marketplace in Colorado, which will play a critical role in its strategic initiatives.
By incorporating a wholesale B2B marketplace into BioTrackTHC’s vertically integrated seed-to-sale tracking and dispensary point of sale software, Helix said it will be in a unique position to collect data points from the entire cannabis supply chain.
Currently, the company said it holds government cannabis technology contracts in 10 US states and territories, operates in over 2,000 locations, and was identified by a third party as the largest provider of dispensary point of sale software based on market share.
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