YPB is flying high with third cannabis deal in less than a month
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Special report: High-tech counterfeit-fighter YPB Group is on a high after signing its third cannabis deal in less than a month.
The company (ASX:YPB) today announced a deal to bring its authenticity and customer engagement solution to Totem Vaporizers.
Totem is a leading manufacturer in the cannabis industry.
It is expected to become the largest selling vaporiser for 21 to 30-year olds this year, with initial estimates of 10,000 units a month.
The brand is exclusively distributed by Namaste Technologies, which has partnered with YPB on the joint initiative called Cannabis Confirmed.
As part of that agreement, YPB offers its customer engagement platform to both Namaste’s hardware vendors and legal cannabis cultivators.
The technology helps stamp out fakes by empowering cannabis brand customers to confirm the authenticity of a product by scanning a unique serialised QR code – called ProtectCode – on the product packaging.
YPB chief executive John Houston says counterfeiting is prevalent in the cannabis industry and almost all major vaporiser brands have counterfeit versions out in the market.
More recently, he says there have even been fake cannabis oils and the proliferation of synthetic cannabinoids.
“We have identified a strong need for our technology in the cannabis industry.”
“While the Canadian market approaches federally legal recreational cannabis, YPB’s technology can provide the security and authentication requirements needed for customers to buy cannabis and cannabis-related products with great confidence.”
This special report is brought to you by YPB Group.
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