Helix TCS (OTCQB: HLIX) has acquired Amercanex International Exchange, a cannabis electronic trading platform.
The trading platform is designed for new and already operating cannabis businesses, as well as ancillaries and governments, to manage mission critical infrastructure in their supply chain, inventory, and compliance functions.
Financial terms of the deal were not disclosed.
The online marketplace enables compliant wholesale product transaction capabilities in over a dozen legal cannabis markets within the U.S. and internationally, including the key markets of Canada, California, Washington, Colorado, Nevada, Oregon, New York, Illinois, and more.
Amercanex’s blockchain-powered technology, built to be SEC/CFTC compliant, provides participants with real-time electronic transaction notifications and audit systems, QA lab results, and dispensary loyalty programs for repeat buyers. It is currently available in the following regulated cannabis markets: Canada, California, Washington, Oregon, Nevada, Montana, New Mexico, Arizona, Minnesota, Illinois, Michigan, Georgia, New York, Vermont, New Hampshire, Maine, Massachusetts and Maryland.
Helix said that the acquisition provides it with an electronic communications network that can integrate blockchain technology to facilitate real-time transactions of wholesale cannabis product between licensed operators in regulated markets.
“Helix TCS now possesses the unique technology suite needed to scale the industry’s first compliant wholesale cannabis exchange worldwide,” Helix TCS CEO Zachary Venegas said in a statement. “Clients of BioTrackTHC, Amercanex, and Cannabase, which is likely the largest network of licensed cannabis operators in the industry, will be the first to enjoy the competitive advantages and benefits of our industry-leading Critical Infrastructure Services Platform.”
