25 Mar, 2019, 08:30 ET
DENVER, March 25, 2019 /PRNewswire/ -- Helix TCS, Inc. (OTCQB: HLIX) (the "Company"), through its leading seed to sale software and cannabis point of sale subsidiary, BioTrackTHC, has been awarded a one-year contract extension with the State of Hawaii to continue providing the state's medical cannabis traceability system through June 30, 2020. BioTrackTHC was awarded the Hawaii traceability contract in November of 2016 and launched Hawaii's cannabis traceability system 72 days later, the first known government cannabis tracking system to be deployed in a FedRAMP authorized cloud-hosting environment. BioTrackTHC currently operates 9 government cannabis tracking systems across 7 states, Puerto Rico, and the city of Arcata, California. Last week, the company announced a 2-year extension for the state of Delaware's government tracking contract.
"The BioTrackTHC system and team have been outstanding partners and we are pleased to continue working with them to ensure the success of our state's growing cannabis program," said Michele Nakata, Supervisor of the Hawaii Department of Health Medical Cannabis Dispensary Licensing Program.
"This is our second government contract extension within the last month and third in total. We are pleased that our clients remain confident in our team, our product, and our service," said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc. "Our goal is to ensure that our government clients' cannabis programs operate efficiently, compliantly, and without interruption, and these extensions are a testament to our ability to achieve that goal. We are proud to be a part of the Hawaii cannabis industry and thank the Department for their continued support."
About Helix TCS, Inc.
BioTrackTHC is a wholly-owned subsidiary of Helix TCS, Inc. Helix TCS, Inc. (OTCQB: HLIX) is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. Helix TCS' products reach over 2,000 customer locations in 34 states and 6 countries and has processed over $18 billion in cannabis sales. For more information on BioTrackTHC, visit www.biotrack.com. For more information on Helix TCS and to sign up for investor updates, visit us at www.helixtcs.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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