TrackLoop Analytics Announces Acquisition of Cannabis, Food and Pharma Logistics Tracking Technology

Published: September 26, 2018

TrackLoop Analytics Announces Acquisition of Cannabis, Food and Pharma Logistics Tracking Technology

TrackLoop Analytics Corp., an analytics software company, is pleased to announce the acquisition of ChainTrack Technologies Inc., a company providing Internet-of-Things (IoT) powered supply chain tracking solutions, including “cold chain” (refrigerated supply chain) tracking, for the food and pharmaceutical industries.

On September 25, 2018 (the “Closing Date”), the Company completed the transaction pursuant to a share exchange agreement made effective as of September 25, 2018 (the “Acquisition Agreement”) among the Company, ChainTrack and the shareholders of ChainTrack (the “Selling Shareholders”), whereby the Company acquired 100% of the common shares of ChainTrack from the Selling Shareholders, by issuing 16,500,000 common shares of the Company (the “Consideration Shares”) to the Selling Shareholders on a pro-rata basis, following the completion of which, ChainTrack is now a wholly-owned subsidiary of the Company.

The Consideration Shares are subject to resale restrictions, with 20% released on the Closing Date and 20% released every three months thereafter.