TrustBIX Inc. (TSXV:TBIX) (OTCQB:TBIXF) announces a non-brokered private placement to raise up to $500,000 with share offering priced at $0.035. The company provides onsite and remote traceability and chain of custody supply-chain technologies, which they have termed from Gate to Plate®, to the Agri-Food industry.
Its proprietary platform, BIX (Business InfoXchange System), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data.
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TrustBIX Inc. (TSXV:TBIX) (OTCQB:TBIXF) has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 14,285,714 shares priced at $0.035 per share.
The net proceeds will be used for general working capital purposes with a focus on growing the business.
The shares are currently trading at $0.035.
The company provides onsite and remote traceability and chain of custody supply-chain technologies, which they have termed from Gate to Plate®, to the Agri-Food industry.
Its proprietary platform, BIX (Business InfoXchange System), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data.
The demand for high-quality, affordable food that is sustainably sourced is behind the growth of the Food Traceability market, which is forecast to grow from $18 billion in 2021 to $35 billion by 2029.
While the company’s focus is primarily on the development of its BIX products and markets, current revenue is generated largely from the ViewTrak products, provided by its wholly owned ViewTrak subsidiary, which has developed solutions for many agricultural technology challenges, with an emphasis on feedlots, auctions and processors.
For example, ViewTrak’s pork probe technology is used by the largest pork processor in China and by major pork processors in Canada and Mexico to grade and price pork carcasses.
In March 2022 the company completed the acquisition of Insight, an early stage company providing solutions to track, protect and identify the movement of high-value moveable equipment used in agriculture and other industries.
TrusBix’ clients include JBS Food Canada.
Internationally, JBS is one of the world’s largest food companies with customers in approximately 100 countries on six continents.
In February 2022, TrustBIX announced the continued strengthening of the relationship with Cargill through the signing of an Innovation Agreement.
Cargill Limited is one of Canada’s largest food merchandisers and processors and globally, Cargill has customers in 70 countries/regions.
For more information, please visit the company’s website at www.TrustBIX.com, contact Hubert Lau, President and CEO, at 780-456-2207 or by email at info@TrustBIX.com. For investor relations email IR@TrustBIX.com
