October 6, 2022 (Source) – TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) (“TrustBIX” or the “Company”) is pleased to announce that a Letter of Intent with Dubois Dairy Group (“DDG”) joint venture, of Vermont, USA, was signed October 3, 2022. TrustBIX and DDG will be entering into a project using the BIX Origin and BIX Impact platforms to provide full traceability of their dairy products and the practices related to the production of same.
North American dairy products are among the safest and most nutritious in the world. However, consumers and export markets seek better transparency on products like infant formula, nutritional supplements, and milk powder in all its forms. The Letter of Intent proposes traceability of DDG product lines using BIX Origin starting at the farm of origin tracking right through to the consumer; creating date and time-stamped records of movement of raw milk as it moves from the farm, through the transformation and packaging process to the time it is on the retail shelf. This traceability will be supported by BIX Impact tracking of on-farm production practices of raw milk such as animal feed sources, animal welfare and third-party audits. Even though North American dairy products are among the safest and most nutritious in the world, the consumers and ultimately export markets are looking for more transparency on products like infant formula, nutritional supplements, and milk powder in all its forms.
“This project to use BIX Origin and Impact is exciting for the Dubois Dairy Group. It is one of the most advanced systems we have seen for the path we want to take for traceability and transparency. Food safety and food fraud has become a global issue for the consumer, and we want to address it,” says George Clair, CEO of the Dubois Dairy Group. “Not only will we be providing the highest quality New England produced milk to consumers but will add to dairy processing infrastructure giving Vermont and area dairy farmers the opportunity to increase revenues due to our increased demand for volume. We are supporting local dairy farmers while helping to enhance our economy at the same time.”
“This project will build on TrustBIX’s extensive experience with chain of custody value solutions for all levels of the supply chain, from producers to consumers and our goal to become a global leader for traceability in the agri-food business,” says TrustBIX Chief Industry Engagement officer, Deborah Wilson.
About Dubois Dairy Group
Dubois Dairy Group is in the business of manufacturing or processing whole milk powder in all its forms for export to milk deficit countries. The intent is to give small dairy farmers the opportunity to increase production which will increase revenues for them and along the entire supply chain. Dubois Dairy Group is engaging key systems engineers to deliver world class equipment and services along with financial and operational performance system. The core team members have a lifelong track record in the industry with experience in these types of projects. These systems will provide quality assurance and product traceability measures to exceed world class food safety standards and provide increased customer confidence. Market research indicates the fortified milk powder market demand will see global growth of 5.9% annually for the next 10 years. Global demand and supply chain interruptions have motivated Dubois Dairy group to accelerate the business growth of this project to supply the various segments of the milk powder industry globally. The global market is expanding, and the products are a necessity therefore there is a need to secure supply long-term.
About TrustBIX (TSXV: TBIX) (OTCQB: TBIXF)
As an innovative leader, TrustBIX provides agri-food traceability and chain of custody value solutions. The Company’s goal is to create a world where we trust more, waste less and reward sustainable behaviour by addressing consumer and agri-food business demands. The proprietary platform, BIX (Business InfoXchange system), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data. By leveraging BIX and its unique use of incentive solutions, TrustBIX delivers independent validation of food provenance and sustainable production practices within the supply chain – Gate to Plate®.
ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, United States, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes.
The Company’s Insight technology offers an edge-to-enterprise supply chain solution that brings asset situational awareness to dealers, equipment fleets, and civil construction managers. The platform allows for the tracking, protection, and identification of movement of assets using self-powered and self-reporting cellular tags and cloud-based suite of tools.
This press release contains certain forward-looking information and reflects the Company’s present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “propose”, “anticipate”, “believe”, “forecast”, “estimate”, “expect” and similar expressions used by any of the Company’s management, are intended to identify forward-looking statements. Such statements reflect the Company’s internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company’s current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
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