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TrustBIX and Food2China announce a Memorandum of Understanding to guide future collaboration
Post Time:2020-03-31Author:TrustBIX

TrustBIX (TSX-V:TBIX) and the Guangzhou Food2China Network Technology Co., Ltd. ("F2C") have signed a Memorandum of Understanding (“MoU") March 27, 2020 in which both Parties announce their intent to explore ways to enter into a long-term strategic alliance.


TBX shake hands F2C bigger.png

 

For the last ten years, China (+Hong Kong) has consistently been Canada’s second largest export market for manufactured food products (NAICS code 311), with trade totalling $US 2.63 billion in 2019.  Overall, China’s appetite for imported food products grew at an annualized rate of 13.9% per year between 2010 and 2018 (WITS data).


TrustBIX will look to position premium Canadian AgriFood products attractive to the Chinese market through F2C’s network and on-line trading platform.  TrustBIX will use its Business Info Exchange (BIX) platform to outline supply quantities, verify attractive inventory attributes, and validate claims made about the products being sold.


F2C agrees to promote the TrustBIX brand through publicity and to jointly organize events with TrustBIX in China.  TrustBIX agrees to promote F2C in a similar way.


“This Agreement is a first step in opening export market opportunities for Canadian producers.  Powered by TrustBIX’s BIX platform, independence as a third-party validator of marketing claims, and network of business connections, producers will be able to sell premium, high-quality products through F2C into the Chinese market, and to advertise at major events like the Food2China Expo to be held in Guangzhou in September 2020”, said Hubert Lau, CEO of TrustBIX.  “While we are in the midst of the COVID-19 outbreak in Canada, there are signs China is getting back to work, TrustBIX will continue to focus on creating opportunities for progressive Canadian producers.”

 

 

 

About TrustBIX

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 @BIXSCdn and Facebook at www.facebook.com/BIXSco.


About F2C

Guangzhou Food2China Network Technology Co., Ltd (F2C) is a subsidiary of SingEx Exhibitions Pte. Ltd., and owns an online platform (www.food2china.com) to facilitate one-stop cross-border business matching, by providing logistical and value-added services between international food exporters/suppliers and local food importers/distributors in China that are interested in imported food products and  trading.  F2C also organizes offline business-to-business carnivals across multiple cities in China, establishing a ready reach of end consumers for local food importers/distributors.

 

Guangzhou Food2China Network Technology Co., Ltd is entrusted by the Guangdong (China) Imported Food Association (GDIFA) to provide professional services such as trade matchmaking, overseas inspection and procurement, brand or product promotion, etc. for the members of GDIFA.


 

 

FOR MORE INFORMATION CONTACT: 

 

Mr. Hubert Lau

President and CEO

Telephone: (780) 456-2207

Email: info@trustbix.com

 

Mr. David Schuster

Investor Relations

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) accept responsibility for the adequacy or accuracy of this release.


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