Distribution Agreement Opens Major Sales Channels With Established Logistics Suppliers in California to Accelerate Growth
- Multi-year deal with key distribution channel
- Company is the only METRC approved cold chain vendor in California
- Major sales channel in California
- Accelerate the adoption of cold chain tracking software
VANCOUVER, British Columbia based TrackLoop Analytics Corp. (Canadian Securities Exchange: TOOL) (FRANKFURT: B2IP) (OTCQB: TLOOF) announced earlier today that it is signing a multi-year distribution agreement with Volta Air Technology and Thermobile, a Southern California based delivery vehicle retrofitter, focusing on refrigerated delivery vans for multiple use cases and industries, including Cannabis and Food. The agreement will open a strategic sales channel for the Company in California, enabling it to scale the delivery of logistics and cold chain tracking technology in a key target market. The California logistics market, alongside Europe and Canada, represents a US$6.2 billion opportunity for the Company.
TrackLoop's real-time supply chain platform monitors temperature-controlled and highly regulated food products (fresh & frozen) in real time, securely and cost effectively, providing an enterprise grade solution to both large and small organizations.
Thermobile specializes in insulated and refrigerated delivery vehicle systems for General Motors Company, Ford Motor Company and Nissan Motor Co Ltd. Volta Air Technology builds full electric & zero emission refrigeration units made for sustainable urban delivery vehicles. Through the partnership with Thermobile, Trackloop tracking technology is installed on delivery vehicles used by major processors and distirbuters within Cannabis value chain. Blackbird, an end user of the Trackloop platform, was recently acquired by TILT Holdings Inc. Blackbird supports more than 250 wholesale and retail cannabis operators in Nevada and California to transport an average of $30 million in wholesale cannabis products every 30 days.
"We look forward to working with new partners in California and building a solid footprint in a rapidly growing market. Our partnership with Volta Air and Thermobile will allow us to rapidly scale our recurring revenue while building our sales capacity across the industry," said TrackLoop CTO Zayn Kalyan.
The Company will provide further updates once the Distribution Agreement is formally signed.
The agreement gives the Company access to fleets of refrigerated delivery vehicles operating in the State and will accelerate the adoption rate of cold chain tracking software. The Company is a verified, California METRC software vendor, with its fully functional API integrated with the State mandated compliance platform. Trackloop is the first company with a cold chain tracking solution to be approved by METRC.
About TrackLoop Analytics Inc.
TrackLoop Analytics (TOOL) is an analytics software company that is leveraging digital asset technology to transform and modernize multiple industries. TrackLoop is taking a diversified approach to the analytics and technology space, delivering practical solutions in the finance, logistics, cannabis, and pharmaceutical industries. The Company's turnkey real-time tracking solutions offer the very latest in IoT and AI, providing valuable data and business intelligence to some of the world's leading brands.
TrackLoop is a publicly-traded company listed on the Canadian Securities Exchange (CSE); trading symbol TOOL (C.TOOL or TOOL.cn).
Chief Technology Officer
This news release contains forward-looking information based on current expectations. Statements about the Company's plans and intentions, signing contracts, potential revenues, expansion into the U.S. market, signing of the Development Agreement, other potential transactions, product development, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for products; security threats; relationships with its customers, distributors and business partners; the ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. TrackLoop may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward looking statements.
Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, the impact of technology changes on the industry, competition, security threats, consumer sentiment towards TrackLoop's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, lack of demand for TrackLoop's products and services, increase in labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE has not reviewed, approved or disapproved the content of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information about the company please contact us at +1-778-938-3367.
The assembled information disseminated by USA News Group is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. USA News Group does expect that investors will buy and sell securities based on information assembled and presented in Equity Insider. PLEASE always do your own due diligence, and consult your financial advisor.
All assembled information within Equity Insider is subject to change without notice. The assembled information within USA News Group is based on information supplied by the company, press releases, company filings, or from other sources believed to be reliable as of the date of the report on the featured companies, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Equity Insider and its affiliates and authors are not brokers, broker-dealers, market makers, investment bankers, analysts or underwriters.
Forward Looking Statements
Information in our emails and on Equity Insider will contain “forward looking statements” as defined under Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. An example of forward-looking information are statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These and similar forward statements are subject to a number of known and unknown risks and uncertainties outside our control that could cause actual operations or results to differ materially from those anticipated.
The cautionary statements made in this document should be read as being applicable to all related forward-looking statements wherever they appear on Financials Trend or in other communications.
In order to be in full compliance with the Securities Act of 1933, Section 17(b), Equity Insider and its management will fully disclose if they receive fees from profiled companies or agents representing the profiled companies. These fees may be paid in cash, securities of profiled companies, or both, and will be completely disclosed in each profile.
Since USA News Group receives compensation from the companies that it profiles or other third party agencies and its employees, affiliates, or members of their families could hold stock in the profiled companies, there is an inherent conflict of interest in the statements and opinions, and such statements and opinions are not independent.
Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Trackloop Analytics advertising and digital media from the company directly. There may be 3rd parties who may have shares of Trackloop Analytics, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Trackloop Analytics which were purchased as a part of a private placement. MIQ will not buy or sell shares of Trackloop Analytics for a minimum of 72 hours of the publication date (October 30, 2018), but reserve the right to buy and sell, and will buy and sell shares Trackloop Analytics at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.