Denver, CO, Sept. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- PRESS RELEASE -- Helix TCS, Inc., a provider of critical infrastructure services to the legal cannabis industry, finalized its previously announced acquisition of Amercanex, a B2B wholesale marketplace that leverages blockchain technology and is capable of facilitating wholesale cannabis and hemp transactions between licensed businesses on a global scale. Upon the closing of the transaction, the company 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 Zachary L. Venegas, executive chairman and CEO of Helix TCS, Inc."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."
"It's very exciting," said Amercanex CEO Steve Janjic. "The Helix ecosystem is precisely the place for this platform to have maximum impact on the industry."
In 2016, the company also acquired Cannabase, the largest and oldest B2B wholesale marketplace in Colorado, which will play a critical role in the company's strategic initiatives. By incorporating a wholesale B2B marketplace into BioTrackTHC's vertically integrated seed to sale tracking and dispensary point of sale software, the company will be in a unique position to collect data points from the entire cannabis supply chain. Currently, the company holds government cannabis technology contracts in 10 U.S. states and territories, operates in over 2,000 locations across the full-vertical, and was identified by a third party as the largest provider of dispensary point of sale software based on sheer market share.