- Dotz Nano has partnered with Slalom Capital for the development of BioDotz technology on hemp plants
- Slalom will pay a non-refundable payment of $296,000 to Dotz
- Dotz will grant Slalom exclusive rights to sell BioDotz in Canada
Dotz Nano has partnered with Slalom Capital for the development of BioDotz technology on hemp plants.
BioDotz is a carbon-based marker and is the first in-plant security solution for supply chain monitoring of plants with value such as hemp and tobacco.
As opposed to other conventional solutions, BioDotz can’t be moved from the plant.
Slalom will pay a non-refundable payment of $296,000 to Dotz. The payment will be made within 60 days.
Dotz will grant Slalom exclusive rights to sell BioDotz in Canada, assuming the annual wholesale targets are reached.
The first annual wholesales target is $370,000 and will be income for Dotz. The companies will then negotiate annual sales targets.
Dotz is a technology leader in research, production and marketing of anticounterfeiting, authentication and tracking solutions.
It has strong, established distributors in North America, Europe, Japan and Australia as well as scientific collaborations and partnerships with leading academic institutes.
Dotz CEO Uzi Breier is happy with the agreement and looks forward to finalising its technology.
“This is the logical next step in us commercialising our pending patent for the use of BioDotz as a direct taggant of cannabis and other high-value or restricted plants, and our work with Israeli medicinal cannabis producer Seach,” he said.
Slalom is a Canadian private equity firm with extensive interests in the cannabis sector.
Slalom Managing Partner Sukhmonhan Athwal is excited to bring the product to Canada.
“We are excited to be partnering with Dotz to help finalise BioDot for cannabis and be their exclusive distributor in Canada. Growers will be very keen to ensure they can protect their brands throughout their supply chain,” he said.
Canada is the largest country in the world to have legalised medicinal and recreational cannabis.
“In Canada, there are strict general rules regarding promotion, packaging, advertising and supply, which mean licensed producers in that country need to ensure they can track-and-trace cannabis to prevent illegal cannabis from being introduced into the legal market as well as legal cannabis from being diverted to the illegal market,” Uzi said.
The Canada cannabis market is set to grow from US$569 million to US$5.2 billion by 2024.