TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF), the cannabis-focused blockchain group, has welcomed Cesare Fazari as a director of the board with effect from March 9.
Fazari is a founding partner of Northwood Developments and specializes in commercial retail rollout, having completed thousands of turnkey projects for major commercial franchises, including Shoppers Drug Mart, Marshalls, Trade Secrets and Public Mobile, said the firm in a statement.
He has been the seed venture capital investor in many successful public companies such as Hydropothacary Corp., Ianthus, Drone Delivery Services, the firm added.
Also in Tuesday's statement, TruTrace revealed that Swapan Kakumanu had resigned as director but he continues to serve as the finance chief and secretary of the company. This change is also with effect from March 9.
TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property (IP).
The firm says it also streamlines the admin process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis.
A targeted expansion
In January this year, the Vancouver-based company said it was planning a targeted expansion of its proprietary platform (StrainSecure) into the pharmaceutical and nutraceutical verticals in 2020.
It is also planning to enter several international markets, it said in a statement.
The firm had a banner year in 2019 with its StrainSecure technology being deployed in a medical cannabis verification program run by major Canadian pharmacy chain Shoppers Drug Mart.
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