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Vericann™ receives first round funding

After discussions local investors, Vericann™ is pleased to announce that it’s seed round funding has been approved which will see the company formally established.

Funds secured will also be utilised to fund production IT infrastructure required, marketing and legal frameworks which are required for the continued successful operation of the business.

Managing Director, Andrew Heath was very positive about the developments.  “The investment provided will see the business established for growth and sets a solid foundation for that growth,” Mr Heath said.

Initially working with cannabis quality testing laboratories in Australia, Vericann™ is immediately looking to work with international partners in Canada and the USA, and will launch in Europe in early 2019.

“The information framework which Vericann™ provides, from seed to shelf is the only framework that provides a core information set based purely on quality and scientific analysis.  The ability then for end users to use a One Step Quality Verification for the cannabis products is key.”

End users of cannabis products both in the medicinal cannabis market and the regulated recreational markets for marijuana which are emerging in Canada and the USA want more readily accessible information about the products they are using.

“We have already seen product recalls due to quality concerns, and we know that there is a huge gap between the information that people want about cannabis and marijuana products which they are using.  By using Vericann™ Certified Products, end users can be assured of quality at the outset, but moreover if there is a recall on a specific product it can be quickly and easily disseminated to the general public. Being based on scientific quality testing principles and standards, a Vericann™ Certified Product not only provides end user information from testing, but also the ability for the end user to report any issues in terms of quality should there be any.”

Reports of quality issues, or indeed any other issues with retailers or distribution of product can be made anonymously by Vericann™ registered users. Reports are sent back through the value chain immediately the concerns are raised allowing for product manufacturers, cultivators, retailers and distributors to instantly deal with the issues.

The first Vericann™ Certified Laboratories are expected to be provisionally certified by the end of December 2018 in Australia and in Canada / US in early 2019.  The first Vericann™ Certified Products are expected to be available also by the end of the Year.

For more information

Contact Vericann™ via email to info@vericann.cc or use the contact form available on the website.