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Message: Applied BioSciences' Subsidiary, Trace Analytics, Receives Extension of Contract of Services from Washington State Department of Agriculture

Applied BioSciences' Subsidiary, Trace Analytics, Receives Extension of Contract of Services from Washington State Department of Agriculture

posted on Dec 18, 2019 08:15AM
  • Trace Analytics Inc. is a leading scalable analytics cannabis/cannabinoid laboratory poised to meet the demands for mandated regulatory cannabis/cannabinoid testing

  • WSDA contracted Trace Analytics for the purpose of doing cannabinoid profiling for the State's industrial hemp program to ensure the percentages of certain cannabinoids are below Federal limits

Applied BioSciences Corp. (OTCQB:APPB) ("Applied" or the "Company"), today announced that the Washington State Department of Agriculture (WSDA) has extended its contract for services with Applied's majority owned subsidiary, Trace Analytics Inc. ("Trace").

The WSDA contracted Trace beginning in July 2019 for the testing of Industrial Hemp samples and percentage testing for delta 9-tetrahydrocannabidiol (THC) and delta 9-tetrahydocannabinolic acid (THC-A) to ensure the percentages of certain cannabinoids are below Federal limits.

"We are grateful for our relationship with the WSDA and are pleased to continue cannabinoid profiling for the WSDA's Industrial Hemp program. The testing and reporting of results that we have conducted to date have demonstrated the quality of our analytics and our dedication to ensuring compliance with Federal limits," stated Jason Zitzer, Chief Operating Officer of Trace Analytics. "We provide expert consulting services to government entities at all levels around the world and are appreciative to WSDA to have been selected as the sole lab to conduct their testing. This contract extension provides another opportunity toward establishing a higher quality for cannabis and hemp testing."

Trace Analytics Inc. is a leading cannabis science and technology company with significant footprints in lab testing, research and development and licensing. Trace Analytics was started by a group of scientists who specialized in analytical chemistry, genetics and molecular biology, focused on ensuring compliance with public safety standards and end user safety. Trace Analytics is in the process of expanding throughout the United States, and globally with the goal of helping the rest of the world adopt "best practices" in cannabis and hemp testing. The Company also provides expert consulting services to legislators and regulators in many countries, states and municipalities around the world.

Based on Applied BioSciences' stated strategic corporate shift to focus on its BioPharma division and the development and commercialization of novel therapeutics that target the endocannabinoid system (ECS), the Company is currently evaluating a strategic transaction of Trace Analytics. Applied is currently in late-stage discussions and expects to close the transaction by year end.

About Applied BioSciences Corp.

Applied BioSciences is a vertically integrated company focused on the development and commercialization of novel, science-driven, synthetic cannabinoid therapeutics / biopharmaceuticals that target the endocannabinoid system to treat a wide-range of diseases across multiple therapeutic areas. We also deliver high-quality consumer and OTC THC-free CBD products that promote overall health and wellbeing as well as state-of-the-art testing and analytics capabilities to our customers. For more information, visit appliedbiocorp.com and connect with the Company on Twitter, Facebook and LinkedIn.

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