Abattis Bioceuticals Corp (OTCMKTS:ATTBF) and BLOCKSTRAINTECHNOLOGY CORP are coming together to sign a letter of intent. The company has been eyeing the proprietary technology of BLOCKStrain and is looking forward to integrate it into its product and services ecosystem.
Market observers closely following on the recent developments have made a joint statement outlining that the collaboration was one of the best moves. The recent collaboration is a progressive move because clients will be in a position to arrange for analysis, testing, shipping as well as the sales of the wide range of products.
Robert Galarza, CEO of BLOCKStrain, while addressing several journalists said that testing labs and the licensed producers could count on their services. He termed the agreement with Abattis a major step for them in terms of business progress. This company is one of the most advanced players in the segment of cannabis testing and analysis and through their cooperation there was quite much to look forward to in future.
Negotiating the terms of the definitive technology development agreement
Pursuant to the LOI,the two business gurus have expressed their willingness to negotiate the terms of a definitive technology development agreement and one of the officials has said that the two parties want the terms of their partnership respected no matter what happens.
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Since its establishment, the BLOCKStrain’s platform has stored all its testing data in a blockchain-protected database and the good thing about such a resolution lies in the fact that it is possible to cut down on the workload in a rather significant way aside from bringing lower the costs associated with genetic and product testing.
We are heading into a new era where producers will be able to have their strains tested genetically and also registered with BLOCKStrain in order to establish immutable ownership of the strains developed so far.
The reduction in costs and workload involved with testing is not all that BLOCKStrain does since it moves a step further to provide full visibility of testing results for consumers, government regulators and producers as well.
Definitive investment agreement with XLABS Therapeutics
The other move by the company is the entry into another definitive investment agreement with XLABS Therapeutics (ONT) Inc. (“XLABS”).
The two are hoping to unveil a new Cannabis laboratory which according to sources will be situated in Belleville, Ontario. Itwill see the two business giants succeed in their quest to service Ontario’s growing cannabis sector.