Helix TCS, Inc., a leading provider of ancillary services for the legal cannabis industry, announced this Wednesday that it has acquired cannabis electronic trading platform Amercanex International Exchange (AIE).
By acquiring the AIE, Helix TCS gains an Electronic Communications Network (ECN) which can integrate blockchain technology in order to enable real-time transactions of the wholesale cannabis product.
“We are extremely excited to become a part of Helix TCS, which is known throughout the industry as a leading innovator in technology and security offerings,” said Steve Janjic, CEO of Amercanex. “This acquisition further strengthens Helix’s position at the forefront of the cannabis market.”
AIE Acquisition to Expand the Critical Infrastructure Services Platform of Helix TCS
In addition, the deal will further expand Helix TCS’ Critical Infrastructure Services Platform, which allows cannabis businesses, along with ancillaries and governments, to manage their critical infrastructure in their supply chain, inventory and compliance operations.
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The AIE is an electronic marketplace that provides compliant wholesale product transaction capabilities within numerous cannabis markets, both within the United States and internationally. This includes key markets such as Canada, California, Washington, Colorado, Nevada, Oregon, New York, Illinois, the statement said.
Commenting on the merger, Zachary Venegas, Executive Chairman and CEO of Helix TCS, Inc noted: “Helix TCS now possesses the unique technology suite needed to scale the industry’s first compliant wholesale cannabis exchange worldwide.”
“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.”
The acquisition comes only a few months after ICC International Cannabis Corp. announced that it had teamed up with GreenTree International Inc (GTI), the parent company of Amercanex. Under the agreement, the two companies are working towards creating the first completely electronic cannabis market platform in the world.