Metrc Enters Into New Track-And-Trace Government Contract With The State Of Rhode Island

Metrc, provider of cannabis regulatory systems in the U.S., has entered into a contract with the State of Rhode Island to support the State’s regulation of medical cannabis, the company’s 22nd government contract to date and fifth so far in 2022.

As the only track-and-trace company to have successfully taken over a government contract from another vendor, Metrc will replace the State’s current partner and implement its robust track-and-trace platform to help facilitate the Rhode Island Medical Cannabis Program’s data collection and regulatory oversight. Rhode Island is the third state in which Metrc is replacing the incumbent vendor.

The company’s RFID tag model combined with a configured software-as-a-service system will enable licensed operators to easily view and track all information and activities impacting the status of a plant or the creation of cannabis-based products, including origin, testing results, handling, and chain-of-custody information. This seamless data tracking helps operators optimize inventory control, accurately report sales data, and improve cultivation management. And this same tracking information is accessible to state regulators, providing the ultimate transparency to ensure regulatory compliance, help combat the illicit market, and safeguard the health and well-being of Rhode Island medical marijuana patients.

“As the Rhode Island Medical Cannabis Program continues to grow, we are excited to support and enhance the program through our state-of-the-art track-and-trace platform, which will enable state regulators to conveniently and securely track, store, and retrieve millions of data points from operators around the state,” stated Michael Johnson, CEO at Metrc. “Our team at Metrc is looking forward to working side-by-side with Rhode Island’s Office of Cannabis Regulation and both existing and new licensees within the state to establish a safe and well-regulated medical marketplace.”

Rhode Island was an early adopter of medical marijuana, legalizing the program in 2006. Since last October, the state has awarded six new medical marijuana licenses to business owners through a lottery, which increases the number of dispensaries from three to nine, significantly expanding access to the state’s thousands of medical patients.

Metrc now holds exclusive government contracts in every region of the U.S and has a particularly strong presence in the northeast, having contracts with Maine; Massachusetts; New Jersey; Maryland; Washington, D.C.; and now Rhode Island.

Photo by Tim Foster on Unsplash

Related News

Metrc Strengthens Executive Leadership - Appoints New CEO, Here Are The Details

Metrc Announces New Track-And-Trace Contract With Mississippi

Metrc Enters Government Contract With The State Of South Dakota

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsMarketsMetrcMichael Johnson
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.