Edmonton, Alberta--(Newsfile Corp. - November 30, 2020) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX") is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with KML Meat Processors Ltd. ("KML") for KML to process cattle destined for TrustBIX customers in China and Hong Kong.
In the arrangement, TrustBIX will use its existing relationships in the Canadian beef industry to arrange for the sourcing of cattle from select producers in Western Canada. KML will process these animals at its Westwold, British Columbia facility, and arrange for shipping to a port of entry chosen by TrustBIX's customers.
This deal follows an earlier arrangement TrustBIX announced on November 19, 2020 with GBI Global Inc.
"We continue to build strong links to supply premium beef products to customers in China and Hong Kong," said Hubert Lau, CEO of TrustBIX. "We are building a funnel of customers for premium imported beef products with GBI Global Inc, and are able to source beef with the desirable attributes these customers want. With KML, we now have the processing and shipping expertise to get the product to our customers. TrustBIX oversees the entire value chain, and the chain of custody is tracked by the BIX system."
"The premium beef market in China and Hong Kong is growing very fast and this is really a great opportunity for KML to partner up with TrustBIX to achieve our goal together," said Howard Yong, President of KML.
About KML Meat Processors Ltd.
KML Meat Processors is the only federally inspected slaughter and processing establishment in BC which can export to China and Hong Kong, with 16,000 square feet of processing and packing space on 28 acres in Westwold, BC, 400 kilometers north of Vancouver. KML Meat Processors will focus sales efforts on beef exports to China, Hong Kong, and other markets. Primary products will include primal cuts, boxed beef, custom slaughter, offal, and hide sales.
About TrustBIX (TSXV: TBIX)
As an innovative leader, TrustBIX provides agri-food traceability. By addressing consumer and agri-food business demands, the Company has a goal to become the most trusted and largest source of third-party food traceability and sustainability information globally - Gate to Plate®. TrustBIX Inc.'s focus is to create a world where we trust more, waste less and reward sustainable behaviour. The Company's proprietary platform, BIX (Business infoXchange System), is designed to create trust without compromising privacy through innovative use of data and technology. Extensive R&D has allowed TrustBIX to create a new blockchain-derived technology to complement its mature and proven traceability systems. By leveraging BIX and its unique use of incentive solutions, the Company can deliver independent validation of food provenance and sustainable production practices within the supply chain. 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. For more information, visit www.trustbix.com, or follow us on Twitter @TrustBIX_Inc and Facebook at www.facebook.com/BIXSco.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69202
