LAKELAND, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Metrc, the most trusted and experienced provider of cannabis regulatory technology systems in the U.S., announced a new contract with the Commonwealth of Virginia to support the regulation of its medical cannabis market.
"As Virginia continues to strengthen its medical cannabis market, we are excited to support and enhance its program through our state-of-the-art track-and-trace platform, which will enable regulators to conveniently and securely track, store, and retrieve critical data points from operators statewide,” said Michael Johnson, CEO of Metrc. "Our team at Metrc looks forward to working alongside the Virginia Cannabis Control Authority and state licensees to ensure a regulatory framework where patients are guaranteed safe consumption and licensees are provided an environment to thrive.”
Metrc's robust track-and-trace platform provides the ultimate transparency to ensure regulatory compliance, help combat the illicit market, and safeguard the health and well-being of Virginia's patients. This is accomplished by facilitating the data collection and regulatory insight for the state's medical cannabis market. The Metrc system enables licensed operators to track all activities impacting the status of a plant or the creation of cannabis-based products, including origin, testing results, handling, and chain-of-custody information, through the company's unique RFID tracking model and software-as-a-service (SaaS) system - this information is then easily accessible to state regulators. This robust data set is optimized for regulators through Metrc Insights™ which empowers regulatory agencies to quickly interpret data trends, make data-driven decisions, and implement effective strategies. Seamless data tracking in Metrc also helps operators optimize inventory control, accurately report sales data, and improve cultivation management.
Additionally, Virginia licensees will have access to the newly launched Metrc Retail ID™ functionality. This provides businesses with the option to generate compliant labels with QR codes for item-level identification and allows patients with a smartphone to scan and access product information such as lab results, product origin, and more.
Metrc holds exclusive government contracts in every region of the U.S., and while these areas have diverse regulatory frameworks, each jurisdiction shares the common goal of ensuring safe legal cannabis markets. The Company will continue to partner with these markets to provide a data solution that streamlines compliance, protects the public, and builds trust in the marketplace.
About Metrc
Metrc is the most trusted and experienced provider of cannabis regulatory technology systems in the United States. Our solution combines advanced software, radio-frequency identification (RFID), a dedicated customer support team, and a secure database to track cannabis from growth, harvest, and processing to testing, transport, and sale. Metrc is currently engaged in 27 government contracts and serves more than 500,000 users, including growers, testing facilities, dispensaries, state regulators, and law enforcement officials. We are proud to play a leading role in ensuring the safety and security of the nation's legal cannabis market.
Metrc Media Contact:
Mattio Communications
