Helix TCS Inc and BioTrackTHC Sign Merger Agreement
Helix TCS, Inc. (OTCQB: HLIX) has signed a merger agreement with Bio-Tech Medical Software, Inc. dba BioTrackTHC. The combined company will trade under the Helix stock symbol, HLIX, on the OTC QB. Both firms will continue to operate independently, but will rationalize common business functions. Patrick Vo will continue as CEO of BioTrack, and Zachary L. Venegas will continue as the CEO of Helix, with the additional duty as the board Executive Chairman.
“After a very lengthy and competitive process, we have agreed terms with the company and major shareholders, and have signed a definitive agreement, creating the largest ancillary cannabis company in the industry. The combined firm will offer industry-leading services to clients, improving their ability to serve their customers while increasing efficiency and profitability,” stated Mr. Venegas.
Since its founding in 2015, Helix continues to progress towards becoming a market leader in the legal cannabis industry, operating in the security, transportation, and compliance sectors. In 2016, it acquired Cannabase, the industry’s oldest electronic wholesale marketplace.
Venegas further added: “The synergies between Cannabase and BioTrack are significant, and we will use them as a starting point for an industry defining platform. The combined firm’s increased scope, linked with our focus on execution, will continue to set the standard for M&A in the industry”.
As one of the largest software providers in the legal cannabis industry, BioTrackTHC has secured nine (9) government contracts for its government seed-to-sale traceability software and provides commercial inventory management and point-of-sale solutions to over 2,200 licensed cannabis operations across 29 states and 5 countries.
“We are confident that this merger will enable the combined companies to accelerate growth and thereby enhance the value of our products and services to the customers who rely on us,” said Patrick Vo, President and CEO of BioTrackTHC. “With the continued expansion and maturation of the cannabis industry, we are in an ideal position to rapidly adapt with the evolving needs of our clients.”