Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move:
Interview with Robert Galarza, Director and CEO of TruTrace Technologies (CSE: $TTT.C)
(OTC: $TTTSF)
Delta, Kelowna, BC –October 1, 2019 (Investorideas.com Newswire)
(Investorideas.com Newswire) www.Investorideas.com, a
global news source covering leading sectors including marijuana and hemp stocks
and its potcast site, www.potcasts.ca release today’s edition of Investorideas.com
potcastsCM - cannabis news and stocks to watch plus insight from
thought leaders and experts.
Listen to the podcast:
Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/10011Interview-RobertGalarza-CSETTT.asp
In today’s podcast I
interview Robert
Galarza, Director and CEO of TruTrace
Technologies Inc. (CSE:
TTT) (OTC:
TTTSF), where we discussed
the company’s pilot program with Shoppers Drug mart and future of the cannabis
industry.
TruTrae’s “Pilot
Program” recently completed Phase 1 and is moving into Phase 2, where the
company is beginning to gain real traction with industry names such as it’s
recent partnership with Deloitte as well as having one of the larger LP’s
Aphria join the pilot progam
as well.
Robert commented on the
completion of Phase 1 and moving into Phase 2, saying, “In our years in the
industry, we really started to understand that the most important data point on
the product, in terms of medical efficacy, or trust, or product integrity was
the identification of the product. You can’t really track/trace anything else
unless you really know what it is. Genetic and chemistry testing, associated
with these products really held the key. There’s a lot of great chemistry out
there, but genetics is the one thing that can’t change on a product line in a
clone based propagation, if you have a consistent and visible supply chain. In
this world of buying and selling inventory from different LP’s, I think
everyone is wanting a really strong level set on exactly what this product is.”
Robert continued, “It’s
a really amazing thing when you get introduced to the largest pharmacy in
Canada (Shoppers Drugmart). They’re the Walgreens and CVS combined in Canada.
What blew us away was their knowledge of cannabis. They had been in this
industry for six years quietly behind the scenes, and they understood all of
it. They understood the black market, the grey market, the MMAR, the MNPR, the
designated cultivators, the growers, everything associated with this industry
they understood at a deep level, and they were running into a consistent
challenge, which was: as a medical practitioner there’s no romance about
cannabis. Everything is about facts and medicine and research and information.
They were running into the same problem that we saw which was there’s no
integrity and standardization behind these products. Our platform at its core
really resonated with them. Phase 1 was initial stage implementation of the
core platform into the Shoppers ecosystem and into an initial LP WeedMD, who
was out first client, and getting that through line to show that it could all
work. Phase 2 has been about onboarding the other suppliers and having Deloitte
to come in and help us manage the scope of the project. Even with seven large
licensed producers, it’s a lot of moving parts. What’s been amazing is once
we’ve built the system where we’ve validated that product, and we’ve got the
security and visibility at the core of our information, it’s amazing who wants
access to that information. That’s where the physician networks and hospital
networks have popped up.”
When asked about the
different approach TruTrace has taken in the U.S. market versus the Canadian
market Robert commented, “In the U.S. we’ve taken a little bit of a different
approach. Because of the federal landscape here, we’re kind of planting the
seed as we don’t know exactly what the future is going to hold for the United
States. Those of us that have lived here and been involved in the marketplace
are of the belief that we will see medical legalization occur in the next
couple of years. What that allows, is it allows patients to access safe
medicine in all jurisdictions across the country and it allows the FDA to come
in and implement the kind of standards and practices around testing so people
are getting safe product. Safe product is the key. You can’t just open the
thing up to open market capitalism.”
Robert continued to talk
about the potential of TruTrace moving forward and the possibilities for
collaborations in the future as well as trends being noticed in the cannabis
market.
If you enjoyed this
podcast we recommend listening to our interview with Andrew Muroff from
StrainPrint Technologies
here.
https://www.investorideas.com/news/2019/cannabis-potcasts/09201Interview-StrainprintTechnologies.asp
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