Former Mexican President Vicente Fox Joins Helix TCS Board

Helix TCS Inc HLIX, one of the top providers of ancillary services to the U.S. cannabis industry, announced the addition of former Mexican President Vicente Fox to its board of directors. This is the second time Fox has joined the board of a cannabis company.  

What Happened

As a member of Helix's board of directors, Fox will act as a strategic advisor, helping the company expand into international cannabis markets. Helix TCS has operations in 33 U.S. states and five countries. The company's BioTrack Point-of-Sale system is the most widely used among dispensaries in the U.S. 

Fox was the 55th president of Mexico; prior to that, he was the CEO of The Coca-Cola Co KO's Latin American operations. Aside from Helix TCS, Mr. Fox is also on the board of Khiron Life Sciences Corp. KHRNF. 

"Khiron is a socially responsible company," Fox told Benzinga in an interview last year. "They are very ethical. It's why we are together."

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Why It's Important

Fox is a longtime advocate for cannabis legalization and is one of the most prominent figures in the industry. 

"His addition is a significant multiplier in our further expansion into key production markets that we expect to become dominant cannabis export hubs that will require our full suite of services," Zachary Venegas, executive chairman and CEO of Helix TCS, said in a statement. 

What's Next

As more countries and U.S. states consider legalization, Helix TCS is preparing to enter new markets.

In January, the company said it was positioned to see significant growth from the legalization of recreational use of cannabis in New York. The company's BioTrack holds a government contract to track and trace New York's medical cannabis supply chain.

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Photo by Dustin Blitchok.