DENVER, May 15, 2019 /PRNewswire/ -- BioTrackTHC, a Helix TCS, Inc. (OTCQB: HLIX) company (the "Company"), has been announced as the conditional winner of the Marijuana Seed-to-Sale Tracking System government contract (the "Contract") for the State of Maine, pending final approval by the State Procurement Review Committee and the successful negotiation of the contract. Upon execution of this Contract, BioTrackTHC would partner with the State of Maine to provide software for the tracking of medical and adult use marijuana products from immature marijuana plant to the point of retail sale, disposal, or destruction. The Contract has a maximum life of six (6) years, through 2025. The Company will hold nine (9) government cannabis tracking contracts across eight (8) U.S. states and Puerto Rico after the successful execution of the Maine Contract.
"We are excited to be working with the State of Maine and are grateful for their vote of confidence in our team's ability to execute upon state-level tracking contracts and rapidly deploy a sound and secure technology solution," said Patrick Vo, CEO of BioTrackTHC.
"As states and countries begin to rollout or expand legal cannabis programs, our technology continues to lead as demonstrated by this Intent to Award and our multiple recent contract extensions with our partners," said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc. "We look forward to playing a vital role in shaping the global cannabis industry and ensuring that it is able to operate efficiently and transparently."
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 us at www.biotrack.com. For more information on Helix TCS and to sign up for investor updates, visit us at www.helixtcs.com.
Forward-Looking Statements 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.