BLOCKStrain announces Letter of Intent with NXT Water
January 29th, 2019
News, Top News
VANCOUVER, Jan. 29, 2019 /CNW/ – BLOCKStrain Technology Corp. (TSX:V: DNAX.V) (OTC: BKKSF) (“BLOCKStrain“), creator of the first Blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, and NXT Water LLC (“NXT Water“), the fastest-growing entrant in the Hemp-Derived Beverage category, has established itself as a turn-key manufacturing solution for the burgeoning CBD industry, with its core focus on its most effective absorption modality, water. BLOCKStrain and NXT have entered into a letter of intent dated Jan. 10, 2019, to integrate the BLOCKStrain technology into NXT’s launch. The partnership will develop and launch AKESO Functional Fitness Water, a hemp-derived CBD beverage which will serve as the new benchmark brand for NXT Water. The LOI will be superseded by a formal agreement and the transactions contemplated therein are subject to the approval of the TSX Venture Exchange.
“We look forward to working with NXT Water on this venture to be able to provide verification and a new level of accountability to the hemp-derived beverage category,” stated BLOCKStrain CEO, Robert Galarza. “It also provides further validation of the value that our technology provides to the cannabis industry, and to the brands seeking to provide customers with insight and clarity into their products.”
“There are many brands in the hemp-derived beverage space making unsubstantiated claims regarding the ingredients, potency and overall quality of their products,” said Todd Waks, CEO of NXT Water. “Leveraging BLOCKStrain’s technology, AKESO will offer its customers a new form of trust in the product they ingest.”
“Access to AKESO’s core ingredients is purposely quick and easy. Customers simply use an internet-enabled device to scan the QR code on the side of the bottle, offering real-time access to a dashboard of ingredients, all verified using the Blockchain.” said Waks. “Data will be secured and authenticated via certificates of analysis (COA) for both the hemp oil and purified water.”
“We source only the best organically-grown hemp oil, supplemented with oxygenated electrolytes, and loaded with vitamins and minerals,” said Waks. “We then use our proprietary homogenization/infusion process to create the finest odourless, colourless and cleanest-tasting water ever.”
About BLOCKStrain: BLOCKStrain has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. BLOCKStrain’s technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. BLOCKStrain’s technology is proprietary, immutable and cryptographically secure, thereby establishing a single-source, accurate, validated, and permanent account for cannabis strains from ownership to market.
About NXT Water: Formed by seasoned executives from the beverage, entertainment, and digital marketing verticals, NXT Water has created AKESO, the finest functional fitness water intended to significantly disrupt the functional beverage industry and the burgeoning CBD industry, projected to be valued more than $20 billion by 2024.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Disclaimer for Forward-Looking Information
This news release contains statements with respect to NXT Water and its AKESO water product, and BLOCKStrain has not independently verified any of these statements. Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to: the ability of BLOCKStrain’s technology to provide full transparency and quality assurance for consumers of AKESO water; the expected operation of BLOCKStrain’s technology with respect to AKESO water; the quality and taste of AKESO water; and the intent to change the way people approach their workouts to hydrate and recover. Such statements are based on management’s current assumptions with respect to the expected application and performance of BLOCKStrain’s technology; the assumed content of the products of AKESO water; and other factors, and are subject to various risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including that: BLOCKStrain’s platform may not operate as expected; the quality of the products included in AKESO water may not be as expected; legislative changes may occur that negatively impact BLOCKStrain’s business or the ability of NXT Water to produce and/or sell AKESO water; and other factors beyond BLOCKStrain’s. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits BLOCKSTRAIN will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and BLOCKStrain disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE BLOCKStrain Technology Corp.
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