DENVER, May 05, 2020 (GLOBE NEWSWIRE) — Akerna (Nasdaq: KERN), a global regulatory compliance technology company in the cannabis space, is one of the first companies to build and launch functionality that integrates with Metrc API enabling single entry of the information necessary to initiate facility license transfers. The new capability is available through both Trellis and MJ Platform, the signature seed to sale tracking solution provided by MJ Freeway, an Akerna company. MJ Freeway adopted the technology after Akerna acquired Trellis, which built the initial integration.
“While serving as CEO of Trellis, one of the things I heard most often was how time-consuming and inefficient it is for operators to have to enter the same information into two systems. It was clear to me technology could provide a solution,” said Pranav Sood, Vice President, Akerna. “Management software may not be the most exciting part of anyone’s business, but it’s vital. We set out to solve the duplication problem and leveraged the limited scope of Metrc’s API, providing a streamlined process and creating a more efficient management process. Now, as part of the Akerna family, a broader client base can benefit from the tech through both Trellis and MJ Platform.”Metrc is a regulatory compliance tracking and management solution used by 15 states. The solution does not include ERP or MRP, which is why technology integration with Trellis and MJ Platform is critical to operators in Metrc states.“In considering the API, we took a customer-centric approach and evaluated how we could help our clients achieve the greatest efficiency for their business,” said Sood. “Now, with Akerna products, clients have a complete backend solution that helps them achieve operational efficiencies no other solution can provide.”To enable the new functionality, clients can expect to receive a product enhancement notification with instructions on using the integration feature, as well as how to use other new features and workflows provided with the update. Clients will receive the notification on a rolling basis throughout May. About AkernaAkerna is a global regulatory compliance technology company in the cannabis space. Akerna’s service offerings include MJ Platform®, Leaf Data Systems®, solo sciences tech platform and Trellis. Since its establishment in 2010, the company has tracked more than $18 billion in cannabis sales. As part of its business strategy, Akerna intends to grow through targeted, strategic acquisitions that are complementary to its current business and organically by accelerating its product development efforts. Akerna is based in Denver. For more information please visit akerna.com.Forward-Looking StatementsCertain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the timing and results of integration with Metrc API for Trellis and MJ Platform customers. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna’s ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein. You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna’s industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
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