Helix TCS Strengthens Ties with BioTrackTHC
Helix TCS began in security, transport, and compliance services, where it has built a large client base over time. After acquiring Cannabase, a leading wholesale cannabis marketplace, the company has been simultaneously focused on building out a data-driven platform that connects businesses, consumers, and regulators. Its recent co-investment in BioTrackTHC underscores management’s commitment to growing this data business over the coming months.
Security, Transport & Compliance
Helix TCS is a premier provider of integrated operating environment solutions for the legal cannabis industry. In particular, the company provides high standard security operations, including transportation, armed and unarmed guarding, training, investigation, and special services. These products and services are designed to help legal cannabis businesses remain in compliance with state regulations and protect their assets.
In addition to these services, the company has developed a proprietary software suite and partnership platform designed to help clients integrate inventory and supply operations. Cannabase is the oldest electronic wholesale platform in the cannabis industry and will become a critical component of the company’s technology initiatives, enhancing its data, security, and compliance offerings with an industry-leading platform for businesses, advertisers, and consumers.
Boosting Its BioTrackTHC Partnership
Helix TCS and its investment partner Rose Capital recently announced that they acquired all of the outstanding preferred stock of BioTrackTHC. If it were converted to common stock, the preferred stock would represent approximately 18.5 percent of BioTrackTHC’s total outstanding capital stock. Helix TCS CEO Zachary L. Venegas also joined the company’s Board of Directors, which marks a further strengthening of its relationship.
“We are impressed by BioTrackTHC’s growth and geographic footprint for seed-to-sale systems,” said Mr. Venegas in a recent press release announcing the investment. “Furthering our relationship with BioTrackTHC is an important step in our finding ways to support the technology and data capabilities of all of our business lines, including Cannabase.”
BioTrackTHC was founded in 2010 to bring cannabis out of prohibition by providing the industry with transparency, accountability, and accessibility, to enable a safe and growing market. Since then, the company successfully implemented the Washington State Traceability System and won additional contracts in Delaware, New Mexico, Illinois, New York, and Hawaii, and has been selected as winner apparent for the government contract in Puerto Rico with over 2,000 clients.
Helix TCS Inc. (OTCQB: HLIX) represents a compelling investment opportunity in the growing cannabis industry. With its recent investment in BioTrackTHC, management has underscored its focus on developing the technology/wholesale aspects of its business to keep them on par with Helix’s position as a leading provider of transportation, security, and compliance.
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