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by Stockwatch Business Reporter
The TSX Venture Exchange dropped 7.92 points to 888.27Tuesday. Joshua Bleak's halted Scorpion Resources Inc. (SR) has more information about its qualifying transaction to acquire Cameron Chell's Blockstrain Technology Corp. (see Shell Summary for Jan. 5, 2018). Blockstrain is a private British Columbia company that says it is using blockchain to develop a cannabis registration and licensing platform. Last month, it was unclear as to what stage the target was at in its software development process. Now, Blockstrain says it has signed a letter of intent to license software from Robert Galarza's Spark Digital Technologies Inc. Spark Digital is a private company that specializes in "cannabis solutions." It has two offices, one in Gastown and another in Seattle. Spark says its platform can track, quantify and link cannabis all along its supply chain. It makes no mention of blockchain technology. In exchange for the software, Blockstrain has agreed to pay $500,000 as an initial licensing fee, as well as an annual fee that has yet to be negotiated. Blockstrain has lent Spark $100,000 for working capital so far. The money can be applied to the initial licensing fee.
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