BLOCKStrain announces Letter of Intent with NXT Water

Published: January 30, 2019

BLOCKStrain announces Letter of Intent with NXT Water

BLOCKStrain Technology Corp., creator of the first Blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, and NXT Water LLC, the fastest-growing entrant in the Hemp-Derived Beverage category, has established itself as a turn-key manufacturing solution for the burgeoning CBD industry, with its core focus on its most effective absorption modality, water. BLOCKStrain and NXT have entered into a letter of intent dated Jan. 10, 2019, to integrate the BLOCKStrain technology into NXT’s launch. The partnership will develop and launch AKESO Functional Fitness Water, a hemp-derived CBD beverage which will serve as the new benchmark brand for NXT Water. The LOI will be superseded by a formal agreement and the transactions contemplated therein are subject to the approval of the TSX Venture Exchange.

“We look forward to working with NXT Water on this venture to be able to provide verification and a new level of accountability to the hemp-derived beverage category,” stated BLOCKStrain CEO, Robert Galarza. “It also provides further validation of the value that our technology provides to the cannabis industry, and to the brands seeking to provide customers with insight and clarity into their products.”

“There are many brands in the hemp-derived beverage space making unsubstantiated claims regarding the ingredients, potency and overall quality of their products,” said Todd Waks, CEO of NXT Water. “Leveraging BLOCKStrain’s technology, AKESO will offer its customers a new form of trust in the product they ingest.”

“Access to AKESO’s core ingredients is purposely quick and easy. Customers simply use an internet-enabled device to scan the QR code on the side of the bottle, offering real-time access to a dashboard of ingredients, all verified using the Blockchain.” said Waks. “Data will be secured and authenticated via certificates of analysis (COA) for both the hemp oil and purified water.”

“We source only the best organically-grown hemp oil, supplemented with oxygenated electrolytes, and loaded with vitamins and minerals,” said Waks. “We then use our proprietary homogenization/infusion process to create the finest odourless, colourless and cleanest-tasting water ever.”

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