Product Could Be Commercially Available in 2019
LAS VEGAS, July 29, 2019 /PRNewswire/ -- Digipath, Inc. (DIGP) ("DIGP" or the "Company"), a service-oriented independent testing laboratory, data analytics and formulation firm focused on the developing cannabis and hemp markets, is pleased to announce that the Company's GroSciences subsidiary has made significant progress in developing its Tru-Hemp ID project, with commercial availability targeted for late 2019/early 2020. GroSciences is Digipath's wholly owned subsidiary which combines years of testing data and proprietary research to create "The Science to Succeed" for clients wanting expert guidance on formulations, identification, and more.
As previously reported, Digipath, via GroSciences, has been developing a field testing kit for hemp, cannabis and other related products with a myriad of applications from law enforcement to growers. GroSciences has now successfully completed the in-house testing of its prototype Tru-Hemp ID DNA-based assay kits at two separate laboratories. Tru-Hemp ID distinguishes industrial hemp which is legal under the 2018 Farm Bill, from drug-type cannabis. The kit is expected to serve a growing need in the burgeoning hemp industry, since legal hemp is not visually distinguishable from high-THC marijuana, a Schedule I Controlled Substance.
Currently, GroSciences plans to beta-test Tru-Hemp ID in August in Vermont, New York and North Carolina, with talks underway with hemp growers and regulators in Oregon, Colorado and California.
"We have made significant progress in developing GroSciences' molecular assay, Tru-Hemp ID," stated Chief Science Officer for Digipath, Dr. Cindy Orser. "In addition to developing the technology for the Tru-Hemp ID testing kit, we are partnering with leading hemp growers to conduct independent testing using our technology, which we expect to help accelerate our path to market and commercial acceptance of our testing kit."
"The deployment of Tru-Hemp ID in the commercial marketplace will provide Digipath with a new revenue stream," added Todd Denkin, CEO, Digipath. "Our goal is to not just be a leading testing lab, but a leading canna-tech company."
About Digipath, Inc. (DIGP)
Digipath, Inc., is a cannabis data company and independent cannabis-testing firm that supports the cannabis industry's best practices for reliable testing, data acquisition and analysis.
Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its client's products through analysis, research, development, and standardization.
Information about Forward-Looking Statements
This press release contains "forward-looking statements" that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company's need for additional funding, the demand for the Company's products, governmental regulation of the cannabis industry, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other risks that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Digipath, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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